Advertisement

  1. ITV Report

Tonight: Bargains in the Sun

Early this year the European Central Bank declared the Eurozone is stabilising. With that the property markets reported renewed confidence amongst buyers.

But with recession still crippling many of the economies across Europe - is it really the right time for Brits to be investing overseas?

All across Europe prices have dropped considerably. In Croatia for example they’re down 25%, in Greece they’ve dropped 30% and in Bulgaria by almost 40%. Across Spain across the board they’re down by 30%, but if you look closely and do your homework, in areas like Malaga and Valencia they’re down by an incredible 50%.

A recent HSBC report found that 38% of retirees are considering a move abroad – that’s 5.4 million people.

In the Tonight programme, at 7.30pm on ITV, Jonathan Maitland investigates the current property market in Spain and asks - is now the time to buy our bargain in the sun?

THE BUYERS

Christine Walton has a budget of £200,000. She is on her first research trip to Spain and views 2 properties in the Costa Blanca Region.

Christine talks property with Tonight reporter Jonathan Maitland Credit: ITV / Tonight
Christine viewed a detached property on an Urbanisation just North of Murcia. It’s being marketed at just over £110,000. Credit: ITV / Tonight
She also a detached villa with 4 bedrooms, open-plan living space and a pool - all on a 10,000sq ft plot for £240,000. Credit: ITV / Tonight

For more information on these properties contact Property Repossessions.

George Kitching also has a budget of £200,000. Along with his wife and three children he’d like to start a new life in the North of Spain. As a tree surgeon he would work the land and develop a resort that would tempt others to sample the more rustic life.

George Kitching Credit: ITV / Tonight

He’s viewing an abandoned village in the Galicia region with 4 houses, three barns, a cattle shed and about 100 acres. All for £185,000.

Your own village for £185,000 Credit: ITV / Tonight

For more information click here.

OTHER PROPERTIES FEATURED ON THE PROGRAMME

In Spain at a resort south of Murcia there are nearly 200 apartments for sale:

These apartments near Murcia WERE £120,000 NOW £43,700 Credit: ITV / Tonight

Contact Polaris World for more details.

A 3 Bedroom Villa in Costa Blanca WAS £214,000 NOW £130,000 Credit: ITV / Tonight
A 2 bed apartment near Orihuela, Alicante WAS £76,000 NOW £37,500 Credit: ITV / Tonight
This 3 bed detached property with panoramic views in Bulgaria WAS £49,500 NOW £32,300 Credit: Yantra Homes

For more information click here.

In Greece this island retreat WAS £128,000 NOW £89,000 Credit: A Property In Greece

For more information click here.

And this incredible 16th century cottage in Normandy WAS £118,500 NOW £78,200 Credit: Leggett

For more information click here.

People who think about moving abroad, it's quite a big move, and lots of thought needs to be put in - think about the financial implications. It’s not just about ploughing all your money all your heard earned savings into your house, you also need to think about the exchange rate fluctuations, between the UK sterling and the Euro. And the other thing is really research. They talk about location, location, location. I say research research research because otherwise you’re never going to find that location anyway."

– Paul Rodwell – British Consul, Alicante

I would definitely buy today in Spain. I’m seeing some incredible opportunities and there’s a general feeling around that we’re at the bottom and that the worst is behind us, even though we’re not yet out of the woods."

– Mark Stucklin – Spanish Property insight

There have been changes recently to protect purchasers and there are still thousands if not hundreds of thousands of purchasers who have problems which have not been dealt with. You can’t always expect that it’s going to be a paradise – I don’t think paradises exist."

– Gerard M Vazquez, Lawyer – Abogado, VAZQUEZ ESTUDIO JURIDICO