property market in spain

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Jan 17th 2008, 5:18 pm

#31

leighbloke

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Joined: Oct 2006

Location: Sunny Manchester

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Re: property market in spain

Quote:

Originally Posted by jimmbo

We have just accepted an offer of 3.5% below our asking price for our UK house.
But now we have a strong € against the £.
With this unfavorable exchange we will not be buying till it improves.
So thats one less sale but one more rental.

Could be the pound is as strong as it will ever be against the Euro? history would suggest within the decade the pound and euro will be 1:1?

Jan 17th 2008, 5:30 pm

#32

jimmbo

Forum Regular

Joined: May 2007

Posts: 220

Re: property market in spain

Quote:

Originally Posted by leighbloke

Could be the pound is as strong as it will ever be against the Euro? history would suggest within the decade the pound and euro will be 1:1?

Could this be the grand plan? Then we join the €?

Jan 18th 2008, 9:55 am

#33

toyboy23

Forum Regular

Joined: Apr 2007

Location: West Surrey now, Almeria soon.

Posts: 284

Re: property market in spain

Quote:

Originally Posted by frendspar

Hi again. Sorry if I’ve confused the issue here... …As these ramblings are merely my opinion, hopefully I am wrong

I don’t feel you’ve confused the issue, it’s an interesting perspective. Your ramblings on (effectively) supply and demand are spot on. If you’re trying to sell something that loads of others have on the market, the price will be (or become) depressed. It’s true for duplexes, villas or Ford Fiestas.

These ‘adjusted’ figures nearly always cause problems in understanding. The rate of inflation not including mortgage payments is a good one. Do you remember the brilliant govspeak a few years ago: “The rate of increase of unemployment is slowing down.”?

Nationwide:

Quote:

For many the surprise is that if you bought a property in 1989 in real terms you would not have made a profit until 2001

The nub of the matter carelessly thrown in: “would not have made a profit”. The vast majority of buyers buy to live in and enjoy their house NOT profit. Once the bandwagon gets moving with thousands of “what can I sell it for now?” loonies, it’s hard to stop. Hence where we are now.

Some info on Euro trends: www.halofinancial.com/private/eur.php