Comments on: Spanish Property Market in 2009 – Reasons To be Optimistic

By: some luck

some luck — Sun, 08 Nov 2009 20:58:35 +0000

oh ive lived in spain 33 years and have always seen some houses linger unsold fo 3-5 years because of foreign owners believing they had some sort of hidden treasure. Expect prices to plunge to 199X prices as more owners (well, mortgage holders) try to get out fast or banks sell out of their ever increasing stock of repossesments.

By: Roger S

Roger S — Wed, 15 Jul 2009 15:57:06 +0000

I am agree with jon parks, who wrote: “Dont let the real estate guys talk you into any purchases
dont let them tell you how its the perfect time to buy”. I have been in Spain for more than three years, and still rent. I have seen hundred of houses in Costa Blanca for sale for more than two years, without any buyers. Prices have to be reduced much more. Perhaps further 30% according to the manager in my bank, who advice me to wait to buy.

By: yvonne

yvonne — Tue, 26 May 2009 13:30:13 +0000

Yes we all know that the property market was seriously overpriced, bit like buying a one bed flat in Kensington for 500,000 pounds sterling! Point is there is no point blaming developers, everyone wants the going rate and prices are always determined by what people are willing to pay! Yes prices are low now and could continue to drop, but why wait 3 years to buy at the lowest rate when you are in retirement every year is precious. My advice, buy what you want when you want and at a price you can afford, enjoy your life!

By: jon parks

jon parks — Fri, 22 May 2009 14:51:13 +0000

Ha,hahaha , To be honest thats what the developers deserve for all the liberties they have taken over the last decade,

Iam a financial derivatives trader by profession, and can say that with total conviction that the spanish real estate business is finished. expect to be able to pick up a 2007 400,000 Euro priced 3bed 2 bath apartment for around 120,000 by mid 2011, yes I saying 75% drop across the board,
so dont let the real estate guys talk you into any purchases
dont let them tell you how its the perfect time to buy as we´ve fallen 30% so far, the truth is as mentioned already is that most property was at least 50% overpriced so taking into account the gravity of the global economic crisis ,we,re talking another 50% lower than the 50% it has been overpriced- 75 % drop basically

By: yvonne

yvonne — Fri, 22 May 2009 12:24:49 +0000

The article was interesting reading and while I agree that the facts and figures may not represent the “economist´s” view, I do feel that there are other factors that will make Spain a continued popular option for a new home. What has the UK got to offer on retirement, a pension if you are lucky, new friends if you are lucky, an hour or two babysitting the granchildren, if you are lucky,tv licence fees if you can afford them. Whats so different about Spain, not a lot! But,just a 2 hour flight and we do it in the sunshine amongst friendly people many who have worked hard all of their lives and sell their homes in the UK to live here. They see their children for quality time holiday periods. They visit the Uk for quality time periods…. I could go on.. The UK is only a small part of Europe, the Dutch and Norweigans are continuing to buy as are the Russians, but lets hope the euro continues to pick up and the UK reappears as the major players in the property markets!

By: D Mitch

D Mitch — Tue, 13 Jan 2009 13:33:05 +0000

I am a banker and an economist.I have been living in Spain for approximately 18 months, I still continue to rent while discovering Spain and hoping to find the ideal area for me and my family.
This above article is pure fiction which i can attest to with hard evidence. Firstly property is greatly overvalued in Spain at this time compared to the western world. There is a massive overhang of unsold property which you can see wherever you go in Spain (Murcia especially so). Secondly cost of living has gone up a great deal since we have lived here and I can confirm that it is not a cheap lifestyle in Spain compared to UK/Germany/France or across the water US / Canada. Unemployment is soaring in Spain and developers are going bankrupt at an alarming rate. Official unemployment in Spain looks likely to reach over 20% by mid 2010. I have numerous amounts of evidence to suggest Spain is in a severe recession and property will devalue by over 50% by the end 2012. Do not believe such silly and massively overly optimistic articles as above…..

By: ray butt

ray butt — Fri, 09 Jan 2009 11:54:54 +0000

there is no way in this world that the British are going to continue to buy Spanish property in any numbers in 20009 the euro is too high against the pound and Spanish property is still 50% overvalued

By: Marbella property

Marbella property — Sun, 28 Dec 2008 15:03:21 +0000

I think that the property market in Spain will get better in 2009. The prices now are very competitive and there are very interesting offers everywhere.
Sawsana

By: jody

jody — Wed, 17 Dec 2008 16:09:46 +0000

Spanish Property agents have had a great time over the last 10 years and to be honest the property slump in spain is really down to spanish developers and agents taking advantage, especially of UK clients. Too many properties all well over priced, all the same style! Its nice to see an the ajustment in property price in Spain as it means we will all be able to offord one again in a country that in all fairness would be a lovely place to own a home.