rugbymatt

It also states that prices are growing at a far lesser rate than inflation and that it is causing the greatest concern

ivanmax

Hi everybody,

You are again relying on the very unreliable Spanish press.

Just to make you aware of a few facts the chairman of "El Mundo" (second most read newspaper in Spain) is also one of the partners of one of the biggest Real Estate Agency.

Or we can talk about Mr Gonzalo Mendez Pozo...chairman of most newspapers in Castilla y Leon and owner of "Construcciones Rio Vena" (another of the really big Estate Agencies), who was by the way sentenced to serve 7 years in prison for fraud not many years ago (he only served a fraction of the sentence thanks to his good contacts).

Do you think these guys are going to really say how much are housing prices really dropping? If they did they would lose money.

Here is a tool created by Tecnocasa, which is one of the biggest internet platforms for advertising houses in Spain. They have been comparing prices for the last few years and are a very reliable source of information about how much are housing prices really dropping in my country:

http://www.expocasa.com/preciometro/

You can select different areas with this tool. In Murcia for example we got a 5.25 drop in four months.

I think is fairly conservative to say by the end of this year we will be seeing that many Spanish houses are worth about 20 percent less than just three months ago.

And people is really scared...nobody is buying...this could really go much further.

rugbymatt

I'm going to get my rope and razor blades.

Same Difference

Dont do it Matt!!

rugbymatt

well from reading the thread I would have to wouldn't I?

ivanmax

My advice for Britons today?

You are going to retire, have the cash and don´t give a sxxx about house prices dropping?

Buy yourself a nice house in Spain. Believe me. I spend 5 years in Britain doing my A levels and taking a degree and I can say without a shadow of a doutb you will live much better in Spain.

Great weather, great super friendly people who mind their own business, great food...shall I keep on going?

If on the other hand you are thinking of buying a second residence and have to go to the bank to ask for the money...you´d better look for another nice country where to spend those few weeks off a year or rent a nice place for the summer.

rugbymatt

We're all doomed, doomed I tells ya!

Same Difference

Please dont say that.........I will cry

george43

Obviously this is not the time to risk money on property for investment purposes. Particularly if you need a mortgage,anything can happen.
However what if you are retired and dont need a mortgage.Spain still offers a good life style for those not trying to be clever with investing .
To suggest no one should buy in Spain is like saying no one should buy in most of the countries people would normally look at.

leighbloke

So that'll be what he's saying in this post then??

rugbymatt

From what I read house sales are down 30 odd percent.

george43

ooops,posts crossed, Ivanmax said it better..

Do morons steal car badges in Spain ? Just noticed my Merc badge has been stolen for the second time this year !! ( quite an old Merc incidentally)
Can,t wait to get out of this country.

george43

Advertised prices have not dropped significantly though.

leighbloke

Is that the Merc you got for the help? The Veyron badges are almost impossible to remove I've found, don't you agree?

george43

O knew I should'nt have mentioned Mercs. It's 9 years old, MOT due tomorrow. The only help me and the Mrs get is when we help ourselves.