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What is happening to property in Spain ? |
Travel Info What is happening to property in Spain ? Travel Tips It is nose diving, some places near to me have been up for sake almost two years and still no interest. Prices are beginning to slide down as a general recession begins. Youngsters here cannot get onto the housing market due to the over inflated prices of the last few years, but maybe in a short time they will begin to be able to consider something. It is definately not a good time to buy right now. Property is still being built, but I have seen developments going up so slowly as workforces are reduced as properties are not being sold off plan, so the investment has been made with no whiff of a return, but they have to continue, normally places are knocked up very fast, not any more. Property is very expensive when you consider the actual costs, the construction method is a cheaper one thatn the Uk, there simply is not the care taken in any building, with nice finished being sprayed on to cover the apalling pointing underneath, if a builder from the Uk was to come out and cost the properties on how they are built, many would see that they are grossly over inflated price wise! The Valencian and Murcia regions are also bad places to buy, because the land grab issue is not yet resolved and there are still more and more illegal builds being identified through corruption investigations, each week there's a new report in the papers here.....it won't be long before things really bite, and it will be the 'foreigners' who end up being discriminated against again by being penalised by more taxes ...... Others Nothing much. It's still there. no idea The expected collapse of the overpriced Spanish property market has commenced, houses are not selling any were near the expected values and speculators are loosing lots of money, if you are looking for a property HAGGLE you can get tens of thousands knocked off the price, just be very firm. If you are selling, do it quickly before the prices collapse completely. Correct that nothing is selling at the moment. My own house has been on the market for 16 months. However people are still under the impression that property is cheap here, well it's not. You can get cheap deals, but mostly they need doing up. Everyone says the prices will drop, but that can apply to UK too. The prices are over the roof! I guess everyone is hoping for rather than expecting a drop. It麓s hard to believe that any price in Spain will go down... except for computers maybe ;) There is an over supply of property for sale in Spain |
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