Parents Looking To Purchase Retirement Home in Spain

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spfeno

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I'm not sure if this is the right forum as the query doesn't relate to an investment per se - apologies MODS if its not.

My folks are interested in selling their Irish holiday home of 25 years and purchasing a retirement property in Spain. The area they are interested in is ALTEA in Alicante.

Bearing in mind the current property climate in both jurisdictions I was just wondering if anyone can give me any pointers re same - I've searched through recent threads but none relate to the Spanish side of things.

Secondly does anyone know what the Altea region/area is like?

Regards,

Spfeno
 
Tell them to go and rent in the area for 6 months first, and vist a good few spots.

I believe that the Costa Brava is the best area and Costa Tropical - south of Almeria airport = best value (almunecar, salobrena) or even Mojacar.
 
Hi Spfeno,

Don't think you necessarily have to rent for 6 months. After a couple of weeks you get the feel for the place. Altea is supposted to be lovely area. I have a place in Costa Blanca South - best advice above all buy near an airport. I have an apartment between Alicante and Murcia airport and it couldn't get any better than that - you can shop around for flights. First of all rather than decide on the apartment - ask your parents do they want golf or beach and then whittle it down from there. The nearer the coast the prices tend to go up. I did a good bit of research before buying. Altea tends to be a bit cooler in the winter as it is further north - something to be aware of. Further south it is warmer and flater and in the costa blanca area there is a mini microclimate because of the salt lakes - it tends to have very mild winters. www.spanishpropertyinsight.com is a useful website. I purchased my property from an irish agent of TM Torreblanca and they have properties in Altea - this company is very professional and has been in business 30 years. I have no affiliation but just a happy customer. Best of luck to your parents with their purchase
 
Be careful if they are looking at Torrevieja, La Zenia, totally still overvalued for what's on offer, offer 60% of asking.

Look at the sizes per square foot - some are smaller that mobile homes.

Around Carrefour there is subsidence, Around the lakes - mosquitos.
Some areas are Ghost Towns in off season.
Torreevieja Nueva is handy for Shopping, but the streets are either lonely (holiday homes) or grotty (local) and during Summer the Discos will keep you awake all night.
Dont buy near a bin pick up location or in town.
Check all the for sale signs.
La Zenia, if they want ex pats and Irish pubs, local, supermarket is Mercadona but difficult to walk to

Punta Prima - alright I suppose, main area with pubs/restaurants is a bit tacky.

Primary Rule: Select the general area first, local area second and then the house.
 
Hi Cerbros,

I have an apartment In Zeniamar - upmarket estate. Agreed with you on some on the things you are saying about Irish and English expats that's why I choose Zeniamar - my phase is 60% scandanavian and the rest is a good mix of people which I like. Didn't want to end up in an irish or english urbanisation. Mind you it is more location to shops, restaurants, beach, airport.
 
Angela, Zeniamar is nice and TM build well. Glad you are happy with everything. C
 
Spfeno,

If your parents wish to retire to Spain I'd suggest they go a little north of Altea to look at the area around Moraira and the Jalon Valley. Altea is still a bit tourist oriented, it is quite close to Benidorm, once you go further north you find it gets less touristy and doesn't go completely dead in the winter.

Property in the North Costa Blanca is considerably more expensive than the south (Torrevieja, Guardamar, etc.) but it is also a lot less densly built and is more hilly so the property that is there isn't quite as obvious.

Try to stay south of Denia though, as the winter weather gets significantly colder once you go north of this.
 
I work for a Spanish developer called Tm Real Estate Group. Tm is the largest builder on the Costa Blanca. At the moment we are offering payment of the 1st year mortgage on certain developments. This offer is until 30th June. We are also offering huge discounts on certain developments. An example is 10,200 euro discount on a 2 beds/2 baths property fully furnished to a very high standard with an 8,000m2 green area including a large swimming pool, lake, tennis court and ped court. This development also has a children's playground and beautiful seated areas with fountains for relaxing. This only costs 140,000 euro. This is only one example. There are lots more.

We have built a beautiful development in Altea but unfortunately all the properties are sold. Altea is a lovely Spanish town and only a very short drive to the sea. The view from our development there are of the beautiful hills of Altea. We have many other developments that I am sure your parents would love. Email me and I will send you details of our current promotions. I am based in Dublin and am the area manager for TM.
 
I have just read the entry from Angela 59. She has bought from us-Tm Real Estate and I am so glad she is happy with her purchase. Zeniamar-where Angela bought is a beautiful development. We are currently offering a 2 beds/2 bath in phase 7 for just 144,000 euro fully furnished. This promotion only applies to certain properties. This phase has a fully equipped gym, 2 raised jacuzzis on the pool and a social club (fully equipped with bar, tables and chairs etc) All the residents of phase 7 need to do is bring the grub and drink to the social club where they can all meet. The local market is nearby every saturday from 9 to 1pm. Your parents would love this market as it only runs up one side of the street and down the other so they will not get lost. They can buy their fresh fruit, olives, vegetables, clothes, curtains etc etc. It is only a 10-20minute walk to the sea. (depending on how fast you walk).
 
Hi Noleencrott,

I think you are getting phase 8 mixed up with phase 7 - we don't have a social club and raised jacuzzis - we do have a gym alright. The remainder of the properties for sale in phase 7 are not in great locations no wonder why they are so cheap! But on saying that I'm more than happy with the location of mine.
 
Hello Angela,

Each phase gets better. Phase 8 is the one with jacuzzi etc and the architectural design is fantastic on this phase. The apartments left in phase 7 may not be overlooking the pool but they are overlooking the sports area and are selling at an incredible price considering they are fully furnished. There are fantastic properties in phase 8 available with amazing discounts. You can get a 2 beds fully furnished there with a large garden for 179,000 euro. I am very happy that you like Zeniamar. It is a lovely place to have your holiday home. The beach at Zeniamar is really lovely. Everybody that I have sold a property to there is very happy. I can't wait to get over. I'm heading off for a month.
 
This report comes from today's Financial Times.


Spain’s property market headed for a fall

Spain’s residential property market is heading for a hard landing, as tightening credit conditions exacerbate problems of oversupply and years of rampant price inflation, figures released Wednesday confirmed.
Completed house sales for January dropped 27 per cent year-on-year, according to the National Statistics Institute (INE), while total lending to home-buyers fell almost 28 per cent to €13.4bn ($21bn, £10.5bn). The value of the average mortgage was down 3 per cent, to €142,794, despite higher financing costs.

Spain’s tourist hotspots have been hardest hit. According to a report by Aguirre Newman, the property consultants, residential estate developments in some parts of the Mediterranean coast now take an average of four years to sell, compared with a few days at the height of the property boom four years ago. About half of the new apartments on the Costa del Sol are sitting unsold, it says.
Click to expand...

http://www.ft.com/cms/s/0/1be67d34-fb5e-11dc-8c3e-000077b07658.html
 
I was not aware that advertising was not allowed and the only reason I logged on was that my neighbour saw this site and saw that the parents were looking to buy in Spain. Regarding the article on the Spanish market. Everybody knows the market is lulling just like the Irish market. That is why people are taking advantage to buy now, especially those who wish to retire or buy a holiday home in the sun for the long haul. With the promotions coming from Spain at them moment, it would be madness not to buy now.

I will not log on to this site again as I do not wish to cause any consternation. I was just trying to help and at the same time of course sell. That is my job!! Adios
 
Noeleen from TM,

"I was not aware that advertising was not allowed" - Hmm read the rules

"Everybody knows the market is lulling just like the Irish market." No Tanking is the word with no bottom in sight.

"it would be madness not to buy now." Ehh You are aware of no selling on this forum??

"I will not log on to this site again as I do not wish to cause any consternation. I was just trying to help and at the same time of course sell. That is my job!! Adios" I am sure you are welcome to contribute without selling - Vaya con Dios
 
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