Why is spain so cheap (cost, country, places, living)

[k374]

Was looking at rents in some places in Spain on craigslist and could find 1bd apts in places like Valencia and Granada for EUR 250-300. Yet, in places like Cuenca, Ecuador I see the same apartments listing for $400-500!! Does not make much sense that Europe is so much cheaper than South America.

[Tall Traveler]

They overbuilt in Spain. Real estate prices went down for 7 consecutive years and are starting to bounce back the last year or so. I have a gorgeous vacation house in Puerto Banus that I bought recently that would cost at least 4 times as much in California. I was considering buying in Chile but found Spain to be much cheaper and nicer.

I would consider living there but it's just too far from family.

[drro]

Originally Posted by Tall Traveler

They overbuilt in Spain. Real estate prices went down for 7 consecutive years and are starting to bounce back the last year or so. I have a gorgeous vacation house in Puerto Banus that I bought recently that would cost at least 4 times as much in California. I was considering buying in Chile but found Spain to be much cheaper and nicer.

I would consider living there but it's just too far from family.

Actually, that's not possible. 'Everything' is cheaper in the US, just ask any American on the forums if you don't take my word for it. Let alone cost 4 times as much.

[rosa surf]

Originally Posted by k374

Was looking at rents in some places in Spain on craigslist and could find 1bd apts in places like Valencia and Granada for EUR 250-300. Yet, in places like Cuenca, Ecuador I see the same apartments listing for $400-500!! Does not make much sense that Europe is so much cheaper than South America.

Well its not like all of Spain is amazing to live in- its a normal country with good and bad places. I studied there and my apartment was horrible and cheaper compared to my family's 2nd home in Tijuana, Mexico.

Maybe the area you are looking in in Cuenca is upper class. It's kind of arrogant to say Latin America should all be cheaper than Spain/Europe.

[pampliment]

Indices Difference Info
Consumer Prices in Ecuador are 25.80% lower than in Spain
Consumer Prices Including Rent in Ecuador are 27.58% lower than in Spain
Rent Prices in Ecuador are 33.54% lower than in Spain
Restaurant Prices in Ecuador are 53.79% lower than in Spain
Groceries Prices in Ecuador are 12.45% lower than in Spain
Local Purchasing Power in Ecuador is 58.11% lower than in Spain


Indices Difference Info
Consumer Prices in Mexico are 38.08% lower than in Spain
Consumer Prices Including Rent in Mexico are 40.11% lower than in Spain
Rent Prices in Mexico are 46.89% lower than in Spain
Restaurant Prices in Mexico are 50.20% lower than in Spain
Groceries Prices in Mexico are 28.05% lower than in Spain
Local Purchasing Power in Mexico is 23.46% lower than in Spain

dices Difference Info
Consumer Prices in Colombia are 45.29% lower than in Spain
Consumer Prices Including Rent in Colombia are 45.90% lower than in Spain
Rent Prices in Colombia are 47.95% lower than in Spain
Restaurant Prices in Colombia are 61.56% lower than in Spain
Groceries Prices in Colombia are 43.67% lower than in Spain
Local Purchasing Power in Colombia is 57.71% lower than in Spain

dices Difference Info
Consumer Prices in Brazil are 34.63% lower than in Spain
Consumer Prices Including Rent in Brazil are 36.03% lower than in Spain
Rent Prices in Brazil are 40.69% lower than in Spain
Restaurant Prices in Brazil are 49.44% lower than in Spain
Groceries Prices in Brazil are 38.20% lower than in Spain
Local Purchasing Power in Brazil is 51.28% lower than in Spain

s Difference Info
Consumer Prices in Chile are 21.64% lower than in Spain
Consumer Prices Including Rent in Chile are 23.06% lower than in Spain
Rent Prices in Chile are 27.78% lower than in Spain
Restaurant Prices in Chile are 35.60% lower than in Spain
Groceries Prices in Chile are 17.73% lower than in Spain
Local Purchasing Power in Chile is 25.41% lower than in Spain

[NOLA101]

Originally Posted by drro

Actually, that's not possible. 'Everything' is cheaper in the US, just ask any American on the forums if you don't take my word for it. Let alone cost 4 times as much.

I don't think any American (or really anyone) would claim that Spain, which has a massive real estate depression, has cheaper real estate than Coastal California, which is some of the most expensive real estate on earth.

[AntonioR]

There are places in the USA, much how there are in Latin America too, where real estate is very expensive and on average may surpass the cost of real estate in Spain and the rest of Europe; but, those are pockets of exceptions. In general, property is cheaper in the entire Western Hemisphere than it is in Europe and there is no point in denying this fact. For the most part, European countries are much more crowded than Anglo-American and Latin American countries. Simply compare the populatio densities of each. That also reflects in the price of real estate given the natural laws of supply and demand.

[pampliment]

Does not have anything to do with crowding, local purchasing power is double or triple in Spain.
Aslo, I don't see the relation with real estate gluts which also affect the US.
There are strips and areas of Spain that are extremelly expensive, and there are areas in depression, just as everywhere.

[Londoncowboy30]

Originally Posted by k374

Was looking at rents in some places in Spain on craigslist and could find 1bd apts in places like Valencia and Granada for EUR 250-300. Yet, in places like Cuenca, Ecuador I see the same apartments listing for $400-500!! Does not make much sense that Europe is so much cheaper than South America.

Spain is really struggling with the euro so things will be as cheap as chips in a few places.

Excluding Marbella of course ( love it there )

[pampliment]

Yes, Cuenca , in the province of Azuay, is very cheap.