property prices

[smiddy]

Friends are looking to buy 1/2 bedroom apartment in port and i offered to look on website for them
cant believe how prices have escalated, even in last year
suppose the fall of euro hasnt helped
could hold off and hope euro recovers but prices will no doubt go up.
glad we bought when we did, 10 years ago when peseta, (remember that) was about 250 to pound

 

[mallorcaboy]

Property prices

Hey Smiddy,
we bought our present apartment three and a half years ago, and it has increased by about 90% since then, so my advise to anyone thinking of buying is, stretch yourself now rather than wait. I can't see prices falling any time soon.
Best of luck

 

[julesy43]

buying property

hi smiddy, hope you dont mind me picking your brains but im thinking of buying a property here in the port and need to get a morgage. i need some advice but its a mine field out there. did you experience any major difficulties etc.. any help would be appreciated.

 

[mallorcaboy]

Buying property

Hi Julesy,
I have a mortgage on my apartment and it was very easy to get. Our estate agent, Louisa at Pedro Mesquida organised it all very quickly. Compared to UK it is hard to believe just how little agro is invlved.
Good luck

 

[smiddy]

Property Prices

Julesy

Similar to my amigo Mallorca Boy we had no hassle. Indeed much easier than the U.K. We bought 10 years ago and used Bob McCallum(office next to Ben and Jerry's on seafront just before the Pinewalk). Ours was a bit different as we paid in sterling direct to the UK:lol owner! However, if you pop into McCallums office they have a brouchure handout which explains everything to the last Euro,also all details of tax fees etc.

If you decide to go ahead just drop a posting and we will help in any way we can. (Mallorca Boy doesn't need much encouragement to chat!)

 

[smiddy]

Property Prices

Julesy,
sorry placed Emoticon in wrong place, should be at the end! Brains what Brains!

 

[julesy43]

Re: Buying property

thanks for your replies and advice.

 

[nickandsue]

We have budget of about £120K to buy a small place to live in PP. What type of property should we expect to get for this amount ?
We have received a number of adverts from estate agents for 2 bed apartments and they seem OK although very small s you would expect for the money. I am planning a 3 day trip out to PP in Jan 2004 just to take a look and get an idea of what we are likely to get for our money.
Will I be paying through the nose by buying from an estate agent on the web ?
Wouldn't I be better just pounding the streets when I arrive and take my chances on finding something suitable ?
I have managed to get a quote for return flights, car hire and 2 nights in the Hotel Romantic for about £150 all in, which seems more than reasonable.
Once we have moved over to PP, we intend to buy a second small apartment to rent out to provide us with some income.
Any contacts or advice would be highly appreciated.
Nick & Sue

 

[Sun Properties]

Property

Yes you will pay more if you buy via an agent (due to their commission) but it is difficult to find any places which are being privately sold in PP as a lot of the owners are back in the UK and they have to leave the instruction / keys with someone. Most of the agents we have used are reputable and they can often point you in the direction of a good deal which may save you some of that extra cost. We have recently dealt through Sol (Josep - Joseph)....excellent service. Buying to let is a slightly different proposition as we do not think the higher PP prices are reflected in the higher rental achieved i.e. in terms of investment return you may be better looking at another resort (Alcudia ?).
KAB

 

[merseybeat]

Nick and Sue

I think the web site answered your question about advertising on the PP web site. With regard to viewing properties, we scanned all the estate agents on the PP site and selected the properties we were interested in, then we emailed the agents and told them the dates we were comming out and propertys we wanted to view. We selected one day per agent so we could see as much as possible. I doubt if three days will be enough. We spent a week in PP and could not find anything untill the last day when we struck lucky. If you think about buying in the UK there is no way you would select and but a property in three days! You must be organised and have an itinery other wise you may find you spend three days and see next to nothing. Good Luck.