Comments on: Spanish property recovery is underway and prices will start to rise by 10pc per year says expert http://www.spanishpropertyinsight.com/buff/2009/11/23/spanish-property-recovery-is-underway-and-prices-will-start-to-rise-by-10pc-per-year-says-expert/ The lowdown on Spanish property Sat, 11 Feb 2012 18:45:42 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: peters http://www.spanishpropertyinsight.com/buff/2009/11/23/spanish-property-recovery-is-underway-and-prices-will-start-to-rise-by-10pc-per-year-says-expert/comment-page-1/#comment-553 peters Tue, 01 Dec 2009 11:55:36 +0000 http://www.spanishpropertyinsight.com/buff/?p=3667#comment-553 I have to agree with Carlomagno with most of his comments. Having worked as an Estate Agent here for nearly 30 years here I do feel qualified to give an opinion. The problem with the "experts" is that they are always talking about percentages, as in this case 10% rise....a 10% rise of what? are they talking about the inflated prices of 2.5 years ago or are they talking about 10% of the price of a "distressed property" today? The answer is quite simple really, the value of any given property is exactly what somebody is prepared to pay for it. QED. Mortgages...the news that the Cajas in Catalonia will offer 100% mortgages on a 20% reduction of the official valuation given at the time the construction mortgage was granted...lets not hold our breaths, even less for a foriegner who would wish to buy. Civil servants etc will probably obtain this type of mortgage but this does tend to narrow the field somewhat...does it not? I have to agree with Carlomagno with most of his comments.
Having worked as an Estate Agent here for nearly 30 years here I do feel qualified to give an opinion.

The problem with the “experts” is that they are always talking about percentages, as in this case 10% rise….a 10% rise of what? are they talking about the inflated prices of 2.5 years ago or are they talking about 10% of the price of a “distressed property” today? The answer is quite simple really, the value of any given property is exactly what somebody is prepared to pay for it. QED.

Mortgages…the news that the Cajas in Catalonia will offer 100% mortgages on a 20% reduction of the official valuation given at the time the construction mortgage was granted…lets not hold our breaths, even less for a foriegner who would wish to buy. Civil servants etc will probably obtain this type of mortgage but this does tend to narrow the field somewhat…does it not?

]]> By: carlomagno http://www.spanishpropertyinsight.com/buff/2009/11/23/spanish-property-recovery-is-underway-and-prices-will-start-to-rise-by-10pc-per-year-says-expert/comment-page-1/#comment-548 carlomagno Fri, 27 Nov 2009 10:13:12 +0000 http://www.spanishpropertyinsight.com/buff/?p=3667#comment-548 Lots of experts have crashed and burned in recent years. What was he saying in 2006/7? To the moon and don't look back? Anyway, good to know that you don't necessarily agree with him. Lots of experts have crashed and burned in recent years. What was he saying in 2006/7? To the moon and don’t look back?

Anyway, good to know that you don’t necessarily agree with him.

]]> By: Mark http://www.spanishpropertyinsight.com/buff/2009/11/23/spanish-property-recovery-is-underway-and-prices-will-start-to-rise-by-10pc-per-year-says-expert/comment-page-1/#comment-547 Mark Fri, 27 Nov 2009 10:05:04 +0000 http://www.spanishpropertyinsight.com/buff/?p=3667#comment-547 This chap is held to be an authority in the sector. His opinions count, which is why I’m reporting them. That is not to say I agree with them. Mark This chap is held to be an authority in the sector. His opinions count, which is why I’m reporting them. That is not to say I agree with them.

Mark

]]> By: carlomagno http://www.spanishpropertyinsight.com/buff/2009/11/23/spanish-property-recovery-is-underway-and-prices-will-start-to-rise-by-10pc-per-year-says-expert/comment-page-1/#comment-546 carlomagno Fri, 27 Nov 2009 09:48:58 +0000 http://www.spanishpropertyinsight.com/buff/?p=3667#comment-546 "And when prices start to rise they will do so at a rate of 10% per year." Yeah, right. Mark: how can you publish this kind of self-serving drivel? Unemployment in Spain is approaching 20%... and counting. Based on current policy, the Spanish economy is not getting out of jail anytime soon. At the same time, the global economy is going to see sub-par growth and elevated unemployment for years to come. The Eurozone and the UK will be no different. Where's the demand going to come from to drive 10% p.a. price increases? Hello!? Somebody needs a reality check. “And when prices start to rise they will do so at a rate of 10% per year.”

Yeah, right. Mark: how can you publish this kind of self-serving drivel?

Unemployment in Spain is approaching 20%… and counting. Based on current policy, the Spanish economy is not getting out of jail anytime soon. At the same time, the global economy is going to see sub-par growth and elevated unemployment for years to come. The Eurozone and the UK will be no different.

Where’s the demand going to come from to drive 10% p.a. price increases?

Hello!? Somebody needs a reality check.

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