Domino

Hi
if that is "some" analysts what are the others predicting.?
Put 3 analysts in a room with a single question and get 4 different answers.

IMHO main problem is all the doomsayers, many of whom are quietly taking advantage round the back where we can't see it.

A current problem here in UK is that certain people are most definitely taking advantage. Neighbours sold their house, all packed to move to Spain and their buyer hit them with a £10k reduction - take it or leave it. Due to the pressures of having money to complete they bit the bullet. Personally I would have loaded it and fired.
A number of houses around here are for sale and the only people viewing are a very small group of Asians who are in the buy to let business, taking advantage of vendors shortage of ready cash and debt problems. They appear to be assisted by estate agents who are continually marking down properties based on what they hear others have sold for - even when it is a distress sale, so a decent 3 bed semi is being advertised for £120-125k and selling for as low as £100-114k although I heard last week of one that went for £85k. (couple were desperate to get out from under heavy debts)

The UK actually has a shortage of housing of all types, in part caused by economic migrants loading wife and 6 kids into battered Mondeo and just arriving without any accommodation and demanding council sort them out with accommodation, food stamps etc etc...But also because housebuilding has dropped drastically over the past 5-6 years, although that should be keeping prices stable it isn't
Meanwhile Spain would appear to have a surfeit, many completed and many just shells awaiting completion. There are also the illegals builds sitting there like a hungry vulture.

My prediction would be that if UK prices start to rise in the next 12-24 months then Spain will slowly stop falling and follow on a year later.

hth

Unless we can get out of this silly state then the money will not be there to buy in Spain - and even those who had money no longer do.

sporTTy

So it may be that when we come to buy in Spain we bag ourselves a bargain. On the other hand prices may have risen!

We'll just have to wait to find out.

We've decided against the holiday apartment then upgrading idea, thanks to all who advised

Lynn R

I think the problem of cheeky (to put it mildly) buyers refusing to pay the agreed price on the date of completion has been around since well before the current recession. When I sold my house in the UK prior to moving here almost 5 years ago, I refused to give in my notice at work until after completion, I just took a week's leave to move, the OH stayed on in Spain and I went back to work my notice. I had heard so many horror stories about buyers either pulling out at the minute or trying it on in the way you describe that there was no way I was going to risk ending up with an unsold house and no job.

Domino

Hopefully you will get yourself a bargain because the UK has risen before Spain. On the other hand .......

Good luck whatever way it runs

keep the forum informed as it progresses