Hi all.....!

[kata]

This is our first blog on your forum and just want to say hello.  We were on the island in December and will be back out again in three weeks time.  Our view is to purchase a property on the golf sometime this year and this forum has opened our eyes a little to some of the pitfalls that are present.  Any help and information is greatly apreciated.

[kevin2003]

As a guide to pricing I would suggest that you discover the 2007 value of the property,the peak.Then discount it by 70%.Anything over this threshold has further to fall in my opinion.

[Darky]

Properties have NOT fallen by 70% on the Island.

[kata]

I don't know what the 2007 prices were but we are looking at a 3 bed semi detatched villa and they want 137,000 euros for it.  The lady we are renting a 2 bed semi off, told us she paid 220,000 euros when she purchased it.  Her property is delightfull and a credit to her.  The 137,000 euros still seems a little high with the amount of property for sale, and the fact that there is a problem with renting them out.  What is your thought on the price?  As we don't need to purchase asap we are waiting for the market to stabalise or for the right deal to come along,hopefully very soon.

[fifi]

Hi Kata, there are some beautiful villas for sale in Caleta for around that price.http://www.freedom4sale.com/fuerteventura/caleta-de-fuste/for-sale/property_search_results_global.php?area_name=fuerteventura&aid=&header=&path=®ionid=&areaid=2&place=918&type=0&minprice=&maxprice=&beds=3&tenure=1

There is no set price for property. The person selling tells the Estate Agent how much they want for it and the price that you see is that price plus the agents fee added on. That is why you will see so many different prices quoted.[]

[kevin2003]

Take your time would be my advice.There is a glut of properties available now and it is very much a buyers market.

Be sure also to spend at least six months getting to know your new chosen home town and surroundings.A mortgage is a big commitment and not everything that glitters here is gold.

[Darky]

Have you bought on the Island yourself Kevin or have you had bad experiences with neighbours?

[kata]

Thank's for the site Fifi.  As we mentioned earlier we are not in a rush to purchase but would like to, sometime this year.  The trouble with spending at least six months getting to know the area is that we are only going to be able to holiday there for the next few years, so lack of time is going to be our problem with that.  Part of the reason for us to purchase on the golf, is that every time we have been there, it has been quiet, clean and relaxing.  I am thinking that this is going to be a safe bet?

[fuefairy]

Good advice Kevin2003 as for you Kata if you think 137k euros is too much, methinks you should keep looking....

[annalivia]

This is the website for the Fuerteventura Golf course. Don't forget to add about 10,000 euro extra to the price to cover taxes and fees etc. http://www.fuerteventuragolfresort.com/en/bungalows-los-arcos.php

[kata]

HI Annalivia! Have sent an enquiery off to the golf resort with a figure that we want to pay.  Thank's....  They have them advertised at 110+taxes.  Is that the 10,000euro you mentioned?

[annalivia]

Yes, you will be asked to lodge an amount with your solicitor to cover taxes and fees and if there is anything left over it will be refunded to you.

[DaveW]

I think the 'plus taxes' refers to the 5% Canarian tax which is added to the purchase price. You should allow 8 - 10% on top of this figure for other taxes, land registry, notary and solicitors fees.
Note also that if you are buying new from the builder that most of the places will not have kitchens or lighting fitted so need to make an allowance for that.

[kata]

Hi all and thank you very much for your information.  We are happy to say that, last week. we purchased a three bed villa on the golf and are looking to complete mid July!  I would like to thank Glenys and Brendan for the use of their beautiful villas during our quest.  We did pay a little more than we hoped to, but considering the lovely neighbours we have adopted, the extra money will make it all worth while, especially as we have heard that the beer is free on either side of us!!  "Happy Days"!  Once again, thank you all for your help.

[glenys]

Fantastic news that you will be our "neighbour" If you need any help with anything just get in touch.We only came back today and I'm homesick already. We will be over again just after Christmas for the New Year if your there we will have have to meet up.