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Property - More Problems?

Property - More Problems?

Old Jan 21st 2011, 5:47 pm
  #16  
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Default Re: Property - More Problems?

The trouble is, the experts never fail to get it wrong when predicting either the top or the bottom of the market. I’ve never even got close, but I did have some luck with locations a couple of times, and that’s what it was, sheer luck.

The one thing that could make Spanish properties attractive again for future UK expats would be a sudden rise in the value of the pound. It could happen, everything I’ve read recently points to the pound being too low, and the Euro too high.

I wish they’d get a move on.
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Old Feb 3rd 2011, 8:41 am
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Default Re: Property - More Problems?

Any one buying a house in Spain now really needs to think again.

Spain now has as many unsold homes as the US, even though the US is six times bigger!!

It will take a lot more than a rise in the pound a few more brits coming down to spain to changes things.....

Spain is sitting on a knife edge... Keep your cash ready and jump sure when it's the right time...
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Old Feb 3rd 2011, 9:47 am
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Default Re: Property - More Problems?

Originally Posted by Kayak

Spain now has as many unsold homes as the US, even though the US is six times bigger!!


How many unsold homes are there in Spain ?
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Old Feb 3rd 2011, 10:05 am
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Default Re: Property - More Problems?

Some estimated 3 million in 2009. Although with all the agents claiming to be selling them like hotcakes the figure should have gone down
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Old Feb 3rd 2011, 10:07 am
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Default Re: Property - More Problems?

What is the exact definition of an unsold home in Spain?
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Old Feb 3rd 2011, 2:29 pm
  #21  
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Default Re: Property - More Problems?

Spain now has as many unsold homes as the US, even though the US is six times bigger!!
Interesting fact. Problem is that unsold houses and dropping prices are not that strictly correlated.

Last edited by ameliapond; Feb 3rd 2011 at 3:10 pm.
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Old Feb 3rd 2011, 9:23 pm
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Default Re: Property - More Problems?

Well!!!!!!
I guess if you looking at long term investment not so bad, or like myself just enjoying the culture, people, food, and my home in Spain. Quality of life is priceless
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Old Feb 4th 2011, 3:46 pm
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Default Re: Property - More Problems?

Think positive, there is a boom on the way, sooner than you could imagine
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Old Feb 4th 2011, 7:09 pm
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Default Re: Property - More Problems?

Originally Posted by anonimouse
Think positive, there is a boom on the way, sooner than you could imagine
Well manufacturing is starting to rise in the EU, led by the German sector, but I wonder if a "boom" is really going to happen. Slow growth seems more likely, after the hardship of the last few years, but who knows, you may be right...
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Old Feb 4th 2011, 7:21 pm
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Default Re: Property - More Problems?

Originally Posted by steviedeluxe
Well manufacturing is starting to rise in the EU, led by the German sector, but I wonder if a "boom" is really going to happen. Slow growth seems more likely, after the hardship of the last few years, but who knows, you may be right...
Just be patient
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Old Feb 6th 2011, 9:57 am
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Default Re: Property - More Problems?

There are over 1 Million NEW empty homes in Spain unsold. Add to that the number of repossessed houses the banks hold the scale of the problem is VAST.

The banks are speculating and holding onto the majority of the properties which is holding prices up....

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Old Feb 6th 2011, 10:23 am
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Default Re: Property - More Problems?

Originally Posted by anonimouse
Think positive, there is a boom on the way, sooner than you could imagine
It has to be said, there are indications of something afoot, if this article (in Spanish) is to be believed. I don't know anything about this Nigel Bolton from BlackRock, but he claims there's a tsunami of money waiting to invest in Europe

http://www.expansion.com/2011/02/05/...1&t=1296987663

Of course it'll be interesting to see how the Germany boom helps the rest of Europe. We've all read how they're looking into hiring Spanish workers, but it's not unknown for Germans to invest in Spanish property (look at Mallorca over the years)

http://www.bbc.co.uk/news/world-europe-12359897

The telephones to the European employment service Eures have been ringing off the hook this week. The calls are from unemployed Spaniards urgently seeking jobs - in Germany.

Eures' German branch has requested applications from Spanish engineers, medics, teachers and tourism professionals. Other skilled workers, who speak German, can also apply.

"All our lines have been jammed!" says Carmen de Eguilior Alvarez, a Eures adviser in Madrid. "There's huge interest, because of the crisis here."
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Old Feb 6th 2011, 11:07 am
  #28  
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Default Re: Property - More Problems?

This Bolton guy could be right but I doubt it will be in property investment, or even Spain. He would say that though considering he is head of european investment section

Don't know if it was this thread or the other property one but someone mentioned agents (trying) to talk up the market. Read a piece in evening standard this week, a luxury development in London claims to have sold 60% of units available, when a reporter checked they had sold two Same as they have ads for property on the CDS saying last 3 units remaining and I wonder why are they spending all the money for a full page ad for the last 3

If these Agents are selling as many as they claim why aren't they a bit more prosperous...commissions aren't exactly low
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Old Feb 6th 2011, 11:17 am
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Default Re: Property - More Problems?

These things go in cycles, and normally I'd agree that we should be too early in the cycle for things to recover strongly. However I wonder if things like all that QE (billions being pumped into the economy) and the unrest in ME countries diverting tourism and investment elsewhere, may be hurrying things on somewhat? We're starting to see reports like the following (Attic flat in Valencia selling in 4 hours), which while they may be isolated cases that are being publicised to stir up the market, may be an indication of something afoot. All a bit academic to me, as I'm not about to step into the property market, and I still feel we've 2 more years of pain, but who really knows for sure?

http://www.houses-for-sale-in-spain....lls-in-4-hours
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Old Feb 6th 2011, 11:28 am
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Default Re: Property - More Problems?

Originally Posted by Kayak
There are over 1 Million NEW empty homes in Spain unsold. Add to that the number of repossessed houses the banks hold the scale of the problem is VAST.

The banks are speculating and holding onto the majority of the properties which is holding prices up....

Which we need to add the vast amount of empty second hand homes waiting for a buyer and the partly finished or nearly finished homes, and off plan projects that are sort of sold, where deposits and have been paid.

So the total rises considerably.
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