Unexpat

There are definitely some interesting points in there. However, it has to be noted that different regions in Spain are subject to different interpretations of these.

For example, I believe that the Basque Country is probably one of the wealthiest autonomous regions based on GDP and Murcia, probably one of the poorest, with as much as a 10% difference in the cost of living in comparison between the two. Nonetheless, I believe Murcia was one of the fastest growing economic regions in Spain, last year.

That having been said, a neighbouring house is up for sale, here in Murcia. It was purchased for 245,000 Euros 3 years ago and is now on the market at 600,000 with experienced people telling me that it will sell at that price. Frankly, I am amazed and will continue to doubt it until I see it.

The Wiki article does indeed indicate a precarious situation for the Spanish housing market, but it does all seem to hinge on stunted economic growth and an overall increase in interest rates. Down here, on the ground, I can see it happening, that's for sure.

jamesf

I can't get through all of this, but is the theme, don't buy in Spain for an investment?

Spain is not going to last. But then will other countries take over? Maybe but it will take a while.

Seriously, who here is in Spain for a quick buck?

Keri2323

Not to be picky, but its actually Government

Big_john

If you are here for the quick buck you have missed your chance, those day's have gone

I have lived in Spain for the last 20yrs, so I am not here for the fast buck, I am here because it's my home country

davyrowy

the property market in sth london has gone crazy my house as gone up 10% in 3 months, i dont see any slow down like zel says.
there is a shortage of houses in london,plenty of flats though as they are not such a good investment long term ,too many being built .
so many people from all over europe want to live and work here ,causing the huge demand.
i hope too bag a bargain in spain this summer hopefully.

jamesf

No mate. I'm into Spain because I love it. Not investment.

Property will, over the next 25 years probably increase in value, but if it doesn't then I'm not that bothered. I just want somewhere that I can work from and live for a good 10 weeks of the year.

zads

bump

Charles_Austin

Read that:

http://www.elmundo.es/elmundo/2007/0...176718096.html

Big_john

This has been going on for the last few years now, with the Town Halls & the Mayors allowing contractors to abuse what is you castle & apply more plannng and then charge you the privelidge to put in the infrastructure for them :curse:

The biggest problem is that Spain takes no notice of whatever is told to them by the Courts of Brussels, there is or was a Spanish lawyer who had also been caught out in the Valencia region and was doing all of the organising of the denuncias and other legal work to change these archaic laws.

I haven't heard what has happened to him for a long time, but it's about time it was sorted.

BE AWARE VERY AWARE OF WHAT YOU BUY

Big_john

This has been going on for the last few years now, with the Town Halls & the Mayors allowing contractors to abuse what is you castle & apply more planning and then charge you the privilege to put in the infrastructure for them :curse:

The biggest problem is that Spain takes no notice of whatever is told to them by the Courts of Brussels, there is or was a Spanish lawyer who had also been caught out in the Valencia region and was doing all of the organising of the denuncias and other legal work to change these archaic laws.

I haven't heard what has happened to him for a long time, but it's about time it was sorted.

BE AWARE VERY AWARE OF WHAT YOU BUY

Charles_Austin

The main problem is that there are a large number of people making money out of the sale of a property and many of those nice guys don´t give a sxxx if it will be knocked down or not in the future. They just want the cash.

As Big john says: Be very careful!!! You can end up paying good cash for something bound to became a big mountain of rubble.

mikelincs

there was in last weeks paper an article about someone on the CB who has been told he must demolish his own house as it is an illegal build, he did build it, but was told full permission had been given, but, of course it hadn't, so now down it must come. He has already been fined for it, and an architect came and did drawings that were supposed to be sed to make the build legal, but it has never happened.

Charles_Austin

The main problem is the Spanish authorities are doing nothing about this problem. There are just too many people getting profit out of real estate sales.
I would say not many Spaniars suffer this problem but it is much more commun among those from abroad who don´t know the Spanish ways.

Unexpat

Meanwhile, back in the UK ... more opinions.

http://www.fool.co.uk/news/property-...ket-heads.aspx

GCM

Property prices went up over 3% in the UK - last MONTH!

I'm sure more people will be buying second homes in Spain as a result - when will it stop?

Mark