By Peter McLaren-Kennedy • 21 February 2023 • 11:22
Laura Hamilton - Image Feature Flash Photography / Shutterstock.com
Although prices have yet to hit the highs pre the credit crisis, she said they are substantially higher than they were and that the bargains that followed the crash have long been sold.
She added according to the Daily Star on Tuesday, February 21, that people had a false understanding of how far their limited budget will go and therefore what they might be able to afford.
Referring to the Costa del Sol, where prices have risen substantially, she used the example of a customer looking to spend £80,000 (€90,500) on buying a two-bedroom apartment. She said that the budget would not buy anything more than a studio apartment in popular tourist areas and that they would need to spend at least 50 per cent or more to find what they were looking for.
The alternative she said was to look at less popular areas or to do as many have done, and that´s to go inland where value was much better.
Frustrated, she gave prospective buyers a major reality check saying buyers were too choosy about what they wanted with few appreciating either the value of homes in the area or what they are like in reality. Sadly what people experience on holiday or see on TV is not what the average person can afford and that results in many people failing to find a suitable property.
Channel 4 viewers are known to view many of the people who appear on A Place in the Sun as time wasters, people who are either not serious, have not done their homework or expect Laura Hamilton and her colleagues to pull a rabbit out of the hat.
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Originally from South Africa, Peter is based on the Costa Blanca and is a web reporter for the Euro Weekly News covering international and Spanish national news.
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