They are still going down.
Dec 29th 2012, 9:16 am
#1
Im a 77 year old nutcase
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Joined: Mar 2011
Location: Playa del ingles...Gran Canaria..
Posts: 4,774
They are still going down.
Costa del Crash! Spain's property prices set to slump 50pc with British holiday homes on coasts 'worst hit'
Up to 2million properties languishing on the market that cannot be sold
400,000 Britons either live in Spain or own a holiday home
Experts warn house prices may not begin to recover for up to 15 years
By Becky Evans
PUBLISHED: 29 December 2012
Hundreds of thousands of Britons living in Spain or with holiday homes there risk being the worst hit as property prices continue to plummet.
Analysts warn values could slump by another 50 per cent in the crisis-hit nation, with the biggest falls in coastal areas full of apartments and villas owned by those from the UK.
The slide threatens to be so bad that swathes of half-built or unsold holiday homes along the Mediterranean coast will simply have to be demolished as no-one wants them, even at rock-bottom prices.
Read more: http://www.dailymail.co.uk/news/arti...#ixzz2GR0UK4Al
Up to 2million properties languishing on the market that cannot be sold
400,000 Britons either live in Spain or own a holiday home
Experts warn house prices may not begin to recover for up to 15 years
By Becky Evans
PUBLISHED: 29 December 2012
Hundreds of thousands of Britons living in Spain or with holiday homes there risk being the worst hit as property prices continue to plummet.
Analysts warn values could slump by another 50 per cent in the crisis-hit nation, with the biggest falls in coastal areas full of apartments and villas owned by those from the UK.
The slide threatens to be so bad that swathes of half-built or unsold holiday homes along the Mediterranean coast will simply have to be demolished as no-one wants them, even at rock-bottom prices.
Read more: http://www.dailymail.co.uk/news/arti...#ixzz2GR0UK4Al
Dec 29th 2012, 10:40 am
#2
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Posts: 2,041
Re: They are still going down.
Not sure how she works out that British holiday home owners are "the worst hit" when 300 Spanish families are evicted from their homes every day, but that's Daily Mail logic for you.
Dec 29th 2012, 11:14 am
#3
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Posts: 5,614
Re: They are still going down.
Possibly because just before the crash the DM had articles on buying in Spain for a good investment! Possibly also because of the decline in the pound / Euro some people who were living OK are now not so well off and have realised that the great investment opportunity hasn't worked out. They can headline it all they want but nobody can change what has happened suppose you just have to sit it out and hopefully get some pleasure from your property and living in Spain. Also house prices haven't fallen in UK? I must imagined that I had to sell my house in UK for a lot less than I would have got in 2007!
Dec 29th 2012, 12:46 pm
#5
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Re: They are still going down.
Possibly because the reason those Spanish families are being evicted is not because of the drop in property values but because they cannot afford to pay their mortgages.
Dec 29th 2012, 1:59 pm
#6
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Re: They are still going down.
, though that wasn't mentioned)
Dec 29th 2012, 2:56 pm
#7
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Re: They are still going down.
We recently sold (UK) and made £40,000 clear profit and that was after paying 4% stamp duty on another house...not bad in just over 2 years.
Dec 29th 2012, 3:02 pm
#8
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Re: They are still going down.
Do you not see the connection? If they were able to sell up they would have done, but nobody's buying and they often owe more than the properties are worth.
Dec 29th 2012, 5:32 pm
#9
Lost in BE Cyberspace
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Posts: 5,614
Re: They are still going down.
By the way I didn't loose money on my house sale however what I got was much lower than had I known what was about to happen after 2007/2008.
Going back to original post I suppose main reason for saying British Holiday home owners worst hit, well I would imagine being British paper these were no doubt the people they spoke to.
Last edited by bobd22; Dec 29th 2012 at 5:35 pm.
Dec 30th 2012, 11:02 am
#10
Joined: Jun 2011
Location: In the middle of 10million Olive Trees
Posts: 12,053
Re: They are still going down.
just see them drop by twice as much if Boris's Island should ever get the go ahead (highly unlikely as it is in one of the most heavily congested air corridors in the world)
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Dec 30th 2012, 12:08 pm
#11
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Re: They are still going down.
No idea and I have never been to Southend...strange
Dec 30th 2012, 1:01 pm
#12
Lost in BE Cyberspace
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Re: They are still going down.
Also strange that the Estate Agents interviewed from there although saying the year had been good didn't back up the rise stated!
Dec 30th 2012, 2:03 pm
#13
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Location: In the middle of 10million Olive Trees
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Dec 30th 2012, 8:17 pm
#14
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Joined: Aug 2008
Location: Madrid
Posts: 6,400
Re: They are still going down.
You mentioned the place first...yes for once you're right - very strange! A bit like quoting beer sales in Sheffield and extrapolating it nationwide!
Last edited by steviedeluxe; Dec 30th 2012 at 8:39 pm.
Dec 30th 2012, 8:21 pm
#15
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Joined: Aug 2008
Location: Madrid
Posts: 6,400
Re: They are still going down.
I'd be very dubious of anyone predicting what will happen in 5 years... Who could have predicted 6 months ago that the spanish stock exchange would rise over 30% ? As for the next 6 months it may fall again, but who can be certain? Anyone who is, can make a fortune on short-selling...
As for Spain, interesting that the richest men in the world are now starting to invest there. Maybe they know something?
As for Spain, interesting that the richest men in the world are now starting to invest there. Maybe they know something?
