tez said:
I was just talking to a friend yesterday, and we were talking about our non-mutual expat friends who are packing up and leaving, and it was amazing how many of them are heading to Spain!
I'm one of those who left for Spain last year, opening an office here to bolster us against Bsas spiralling costs etc...property generally isn't cheap and those who come here on that premise are about as disappointed as those expecting to see Paris when they visit Bsas. It seems many moneyed Spaniards havent felt the effect of the crisis and are holding their original property price even if it's lying empty 2 years. I'm 40 minutes outside Seville in the 5th largest city in Andaluscia and property is 2000euro per m2 of the building and again for the land but that dues to proximity to Seville, beaches, equestrian and country activities, transport links etc. I've friends in Malaga who bought cheapish and are paying new retrospective taxes upon taxes upon taxes due to to the illegal build they didnt know was their house/urbanizacion/water supply etc and cash-poor local govts. looking to use foreign property owners to bring in some cash. I for one am loving living in such a conservative ie formal but fiesta filled part of the country but all that glitters is not gold re property here and we will be sooo cautious before dipping our toes into the property ladder...
I own a property near to Malaga and go there 1-2 times a year on holiday and have lived in Granada, so I have some clue about what's going on.
I am guessing that if you want to rent/buy in a nice area in one of the big(ger) cities it's still quite expensive but it's easy to buy cheap now, especially along the coast there are loads of foreigners that really want/need to sell and the amount of Spanish kicked out of there house is ever increasing. For someone from Europe there is also credit available.
It's likely also to get worse before it gets better, so waiting might not be a bad idea.
Close to Malaga it's quite easy to rent a really nice 3 room appartment for like 500-600 euro and you prolly could go as low as 300-400 euro's a month, but your living not in a nice area then.
I am pretty sure that your a similar lifestyle in Malaga is not more expensive then BA, probally cheaper.