steviedeluxe

There's an interesting graphic on the Expansion pages

http://www.expansion.com/2012/05/16/...337199554.html

In many parts of the north, the figure is quite low, 1 or 2%. The figure increases a bit for Barcelona (6.1%) and Madrid (6.8%), but nothing too surprising after a couple of years of recession. But Andalucia has a figure of 16.5% which is in turn dwarfed by the figure of 23% in the Valencia region.

cricketman

That makes complete sense to me

Interestingly, Valencia and Andalucia are the regions where most people on this forum live!

Prices are really reducing here on the CDS, at least by half if not more since 2007. Big villas are now going at less that 1000 euros per square metre especially those near golf courses

Those in the Valencia region are even cheaper. Still some way to go I'd say!

spainrico

Well at least the graph shows the number is coming down.

Dick Dasterdly

Can't recall where I posted it now, but it's on a current thread,.... the banks have been ordered to have a fire sale of property on their books to raise whatever they can.

steviedeluxe

They've already done this a couple of times (and found plenty of buyers at "realistic" prices).

http://www.lasprovincias.es/v/201204...-20120417.html
http://www.reuters.com/article/2012/...83103P20120402

Domino

as I was walking around the village this morning I was looking at all the properties for vende/alquiler. Very few.

there are a number of properties that have been started but not finished, mostly just shells. The semi pair opposite us the owner said he hoped to get one finished by Sept/Oct but had been 6yrs in the building. Thats outside "the crisis" surely.

ISTR you don't pay building tax on an incomplete building which would be why so many very nice properties have a potential shop unit under which is boarded up.

steviedeluxe

I was told that in Madrid they've banned all new housing blocks from having shops/bars at ground level. Not sure why they did this, and I feel it's a mistake as having local shops nearby is a plus in my view (so long as they close at a decent time).

There used to be a lot of "off-plan" purchases in Spain - I don't know how common it is now, though.

anonimouse

Property, is it still the investment it was? I am inclined to think it is and times will change, but I am too afraid to buy up some of these bargains I see.

This recession has got me baffled, I always thought they were deliberately induced to keep us down, maybe they know we are tougher nuts to crack now or......Maybe not?

Dick Dasterdly

Off-plan purchases were risky enough in better times, but under present circumstances would be little short of madness.

missile

According to the great euro crash with David Peston on BBC2 there are more empty houses in spain than USofA

Domino

sri to get my drum out again but

how many of them are unfinished ??

its all well and good having empty liveable accommodation but when all it is is a concrete pour, no roof, no nothing what use is that to anyone in the short term.

if there are so many destitute and homeless put them into empty houses, lets have a bit of philantropy from the banks and their grossly overpaid bosses

well it was a thought...

missile

I have no idea, but it matters not a jot.

The construction boom was paid for by very cheap loans, from those greedy bankers. They are now being supported by 36 month loans at zero % from the ECB. That money comes from where? Taxes paid by governments ........ It is a merry go round and guess who pays in the end?

I was also shocked to learn more houses were being built in Ire than in england before the Keltic Tiger bubble burst.

Domino

thats because the housing model is different in England

the original sale of council homes was flawed in that the govt didnt trust the councils not to squander the money on vanity projects instead of housing so it stayed in bank accounts.
the sale of council houses doesnt take houses out of the market, someone has to live in them irrespective of who actually owns the property. It is that whilst the population has increased both organically and by immigration, that new houses havent been built to cope.
this is then skewed by priority housing for immigrants - although one MP is now telling the local council to make homes available to locals as a matter or priority and take immigrants further down the list.

The thing that really annoys me is that people run around saying they cannot get a mortgage, even though they have the savings and income, but the banks/bs are saying that lending is up. Yes it is up, but the only people getting loans are those who are increasing their buy-to-let portfolio. They are a better risk than a young couple just starting out

trouble is I know too little about the Spanish housing market, do they suffer from the same problems as the UK ?
many from Northern Europe are waiting for further drops in the Spanish market so they can pick up a "bargain" as 10 years ago to (hopefully) make a stonking profit in 5 years time. Well they may get a "bargain" but I just don't see the stonking profit any time soon.

missile

I think you will find, the reason for the boom in construction and over supply of housing stock in Ire and spain was fuelled by easy cheap loans. Many of these loans were provided / underwritten by UK banks.

The Irish economy is smaller. Thus the rise was faster and the fall more dramatic.

One of the things that I find strange is the government owns Northern Rock and is a majority shareholder in what was the worlds largest bank. Why do they not just take them over, sack the overpaid wankers and run the banks to provide loans to UK business and joe public?

I do not claim to fully understand the problems we all face but I know dangerous times lie ahead and I have zero confidence that our "leaders" will find a way forward.

Domino

Santander announced a few months ago they were going to provide €2bn to PYMES
But the latest TV adverts and http://asesoresdepymes.com/oportunid...to-activacion/
indicate this is now only €400million