Re: POLL: Are you feeling the pinch in Spain?
 

i think the exchange rate is to get worse , befor it get good again , with oil going up it getting hard in spain

Re: POLL: Are you feeling the pinch in Spain?
 

Hi,
I guess it has just hit me the difference between those who have to convert good hard earned company pensions every month and myself & hubby. We have been self employed all our lives and still are. We have very small private pensions [and basic state pensions when we are old enough] but we have preferred to accumulate assets with the intention of cacapitalizing on these when we are ready [I must say that... that is not going to be easy in the U.K. at the moment with talk of 40% drop in property prices this year]when the time comes we will be looking for the best return on our capital to provide income and in our case an extra 1% will be very nice. I am old enough to remember paying 15% interest on our mortgage!!! and my mother [God bless her] at the same time gloating about her income at the Building Society!!! It is our intention God willing!!! to spend the winter in our flat Spain. At the moment we only holiday there but I am very interested in the impact of the exchange rate.

Re: POLL: Are you feeling the pinch in Spain?
 

we dont have pensions at the moment, we live off investments which have of course also been hit :)

Re: POLL: Are you feeling the pinch in Spain?
 

Not in relation with the cost of living/housing.Since the introduction of the Euro.

Re: POLL: Are you feeling the pinch in Spain?
 

Hi
I don't know if this is the right thread to post this on!!! We have friends who are selling property's [many] in Tenerife to Russians and tell us they are the buyers of the future!!! how does their exchange compare to 12 months ago?

Re: POLL: Are you feeling the pinch in Spain?
 

The Euro is stronger. A year ago 1 Euro cost 35 Rubles, now it costs 37.

Re: POLL: Are you feeling the pinch in Spain?
 

we have been told the same by Spanish people we know who building new properties

Re: POLL: Are you feeling the pinch in Spain?
 

A buddy of mine has just moved down to Benalmadena to help set up an office desigend to sell directly to the Russian market. Seems that maybe the recession hasn't hit there - or simply that the rich remain rich whilst the poor carry on with nothing!

Re: POLL: Are you feeling the pinch in Spain?
 

The only eastern block people I know are buying villas at silly money, and are not interested in the million 2 bed apartments that are up for sale in this area. ;-))

I know a few Dutch and Norwegians that have bought lately also.

Re: POLL: Are you feeling the pinch in Spain?
 

He reckons that there is an emerging market coming from there too - I suppose a sort of working middle class, who are financially stable and can't quite afford the villas at stupid money but are looking at more affordable properties.

Re: POLL: Are you feeling the pinch in Spain?
 

Clearly the answer to this will depend on whether your income is in euros or pounds. With most income in euros the exchange rate is very good for me and the interest rate in London even on normal savings accounts of over 6% is gratefully received. House prices in the UK went up out of all parity with earnings due to speculation and will have to come down to be affordable by the masses. House prices in Spain shot up too and to an extent that can be blamed on foreign buyers speculating or investing after making money in the UK market. House prices here too must come down to be more affordable by Spanish wage earners and when you factor in the huge increases in fuel and energy costs we will all have less cash for investment in the end. Luckily we have sufficient with one salary to maintain our lifestyle and all we need is more time to do what we want to do. Have hardly put foot on board the yacht so far this year. Roll on retirement and loads of free time.

Re: POLL: Are you feeling the pinch in Spain?
 

Apart from the almost daily price rises in the supermarkets, the drop in the value of the pound against the euro hasn't affected us YET as we make only one money transfer a year for the whole year's living expenses, and as we did the last one in October 2007 the pound was quite a bit higher then than it is now. I am hoping (probably in vain) that it picks up a bit before we have to transfer more this October.

We have no mortgage or other debts, and do not run a car so don't feel the effects of oil price rises except indirectly as they contribute to all kinds of other rises of course.

Re: POLL: Are you feeling the pinch in Spain?
 

The Russians have been coming for about 5 years to my knowing. Its one of those urban myths like Disneyworld:rolleyes: There are some but as JDR says they only buy large villas.

Re: POLL: Are you feeling the pinch in Spain?
 

they were "coming in their thousands" when my old man was out there 7 years ago

Re: POLL: Are you feeling the pinch in Spain?
 

Check out the marinas at Marbella and Puerto Banus. The largest "yachts" are nearly all Russian owned.