Property in Spain.....

[TTmonkey]

My mum owns an apartment in Spain, near Salou about an hour south of Barca.
She wants to sell but the current market is terrible.

Over the next couple of years there will be massive investment in the local area though, with new resorts opening at the current big attraction, Port Aventura. Ferrari are building a European Ferrari world, their opening a huge new European gambling resort like Las Vegas in the area and building loads of new other attractions.

She wants to sell now but I think she should hold out for a couple of years until all this gets built.

With all this investment going on in the next two years, I think it's a good idea to wait to see the local property market recover.... Would you agree...? She doesn't need to sell immediately, she has the choice.

[Vixpy1]

Its going to be 10 or 20 years before the property market in spain recovers.

[Leedssurveyor]

Any rental demand? Can she rent it out as holiday lets in the interim if she is not constrained financially by holding the property? There is a lot of criticism of the planned development so its not 100% going ahead yet. And with all things Spain, will likely be 3-5 X longer than they are saying.

[gtidriver]

Or it'll get more than half built then just abandoned, just like a lot of spain.

[gtidriver]

Or it'll get more than half built then just abandoned, just like a lot of spain.

[MrBig]

Vixpy1 said:

Its going to be 10 or 20 years before the property market in spain recovers.

Very much this. She wil lose a fortune if she sells now. I would look at the rental possibilities and hold on to it for the time being.

It's been a very long time since I went to Salou but is there any possibility that there might be professionals who commute into Barcelona that want somewhere to rent 'out of town'?

[pork911]

How likely is it the build will remain legal?

[Zingari]

There was talk of a large theme park near Murcia that never materialised. Spain is on its arse property wise and has put me off with the annual 'on costs'.

Trouble is a lot of Brit sellers find it hard to accept they've lost money and are not realistic in pricing when trying to sell.

For the OP I'd hold out and try rental - even long term if you dont use it.

[marky1]

The casino resort you refer to has been cancelled.

[gtidriver]

Whilst I was out near Murcia last year I read in the local paper that one of Spain's tallest building the intempo had the plug pulled at around 90% completed. Something must of happened as it's complete now, I saw miles and miles of roads uncompleted,the airport featured in top gear and quite a few rail sections unfinished. Then there's the buildings that are just metal skeletons, so sad to see.

[mybrainhurts]

Vixpy1 said:

Its going to be 10 or 20 years before the property market in spain recovers.

That's down to you, running around with that purple bloody dildo like a demented monkey...