Ask The Expert – Over To You Mark!

LoadingFavourite

This topic contains 13 replies, has 6 voices, and was last updated by Profile photo of Anonymous Anonymous 3 years, 6 months ago.

  • Author
    Posts
  • #57458
    Profile photo of angie
    angie
    Spectator

    Mark, given that Governments are known to falsify their statistics, not least Spain’s, I’m intrigued to know what you as a property expert really think of the the figure for 2 million Spanish homes on the market? It’s always a guestimate it seems πŸ™„

    I’ve come to the conclusion that I do not believe this figure one iota, in fact it’s probably a lot higher, I’ve looked for answers but cannot find true stats. Spain seems to hide true stats.

    Zero Hedge says ‘If the data doesn’t look good, just massage it until it does. That’s how you get a recovery, trouble is, it always ends the same way, the truth comes to light and the losses are enormous’ πŸ˜‰

    What do posters really think is the true figure of Spanish properties for sale based on the 2 million often quoted? The sooner the truth outs the country can get on πŸ˜‰ Include new homes, re-sales, unfinished, Bank owned, etc etc

    I’m going for 50% more, so 3 million at least πŸ™„

  • #116795
    Profile photo of angie
    angie
    Spectator

    Thought you might have an idea on this Mark, are you working on official stats that might be lying around? πŸ™„ πŸ˜‰ :

    Does anyone else think the figures are massaged down? πŸ™„

  • #116798
    Profile photo of Chopera
    Chopera
    Participant

    Given that placing a home on the market in Spain involves nothing more than sticking a “se vende” sign on the front of it I can’t see how the stats can be any more than a guess. It’s not as if people have to use agents and it’s not as if all the properties end up being advertised on the same website (like Rightmove in the UK)

  • #116799
    Profile photo of angie
    angie
    Spectator

    Surely that could be said of property for sale anywhere chopera, so where does the figure of 2 million in Spain come from as a guess, it could be way out either way. A million either way could make a huge difference to the market. The point I was making is, being Spain, is it likely to be an under guestimate? πŸ™„

    We’ve sold before in the UK too without going on Rightmove, private sales don’t figure there either unless you want them to πŸ˜‰

  • #116802
    Profile photo of Anonymous
    Anonymous
    Participant

    In any given circumstances the person/body has to put their best foot forward. It is therefore vital that an independent, reliable information must be to hand for third parties.

    A very high percentage of properties are sold by agents as a normal buyer is either too lazy or time poor that they prefer to click the agents site first.

    In my block I had placed a note through owners letter boxes showing my interest in buying. No one responded ( speaks volume about what my neighbours think of me. I am also on the residents association ) Two properties were on Agents books a few weeks later.

  • #116803
    Profile photo of Anonymous
    Anonymous
    Participant

    Sorry, been travelling a lot. I was in Madrid talking to the managers of bank real estate divisions about…guess what? Yup, their stocks of property for sale πŸ˜‰

    How many homes are there for sale in Spain? How many properties are there really on the market? Nobody knows for sure. Do we even know how many homes are for sale in the UK?

    But as far as estimates go:

    The latest census suggests there are 3.4 million empty homes in Spain, but of course not all of them on the market.
    http://www.spanishpropertyinsight.com/2013/04/22/census-shines-light-on-spains-empty-housing-problem/

    According to official estimates there are something like 700,000 new homes for sale. That sounds credible based on what I see at property portals and talking to banks about their stocks.

    http://www.spanishpropertyinsight.com/2013/01/08/map-of-the-spanish-property-glut/

    How many resales are there on the market? According to report a year ago by R.R. AcuΓ±a, something like a million. In total they estimated the stock of homes for sale or soon for sale (under construction) at around 2 million. I can’t do better than that.

    2 million homes on the market that will take 10 years to sell

  • #116805
    Profile photo of angie
    angie
    Spectator

    Thanks Mark, it’s an interesting map because of showing each region’s stock πŸ˜‰

    Was interested too in a couple of comments hoping to see a 2012 map sometime to see if any variation, also, a comment by Janet saying she was hit with twice the tax she reckoned on with her purchase, how often does that happen to buyers? πŸ™„

    More in Valencia than Andalucia, I wonder if that’s down to large estates as in Torrevieja, or is it more populus as a region?

    2 million it is, not sure I’d have time to count them all πŸ™„

  • #116806
    Profile photo of Chopera
    Chopera
    Participant

    @angie wrote:

    Surely that could be said of property for sale anywhere chopera, so where does the figure of 2 million in Spain come from as a guess, it could be way out either way. A million either way could make a huge difference to the market. The point I was making is, being Spain, is it likely to be an under guestimate? πŸ™„

    We’ve sold before in the UK too without going on Rightmove, private sales don’t figure there either unless you want them to πŸ˜‰

    Ok but that is very much an exception in the UK. Generally the vast majority of people use an agent in the UK, which means making an up front commitment to sell, and I guess 90% of the time the agent will then advertise on Rightmove. It’s easy to gain an idea of how many properties are on the market.

    However in Spain you don’t need to use an agent, so it is hard to establish how motivated a seller is and the the notion of a property being “on the market” is much looser. Is a house marketed at 2006 prices “on the market”? If so then you could say most property in Spain is “on the market” since if a buyer came along and offered 2006 prices most people would take it, regardless of whether they were previously looking to sell their house.

  • #116840
    Profile photo of angie
    angie
    Spectator

    So, Acuna now says the glut of unsold homes in Spain has risen to 2.25 million, (up 12.5% from the previous figure of 2 million) πŸ™„

  • #116844
    Profile photo of Anonymous
    Anonymous
    Participant

    @Mark: When you are with the Banks do you ask them why the Banks don’t take any action on

    a) Having 902 telephone number on their site.
    b) Not replying to emails.
    c) Lack of proper information i.e. M2, codigo postal, floor, gastos de commundad, parking, trastero, floor, poor working of the websites, Banks appoited agents calling you from mobile phone numbers, Hacienda over taxing, et
    d) Ill trained Bank staff, who had join the Banking sector not real estate sector
    e) Banks appointed Agents contacting people from their mobile or providing mobile phone numbers.

    It would be nice to know if they are even aware of the above.

  • #116877
    Profile photo of barrymc1
    barrymc1
    Participant

    Maybe with the introduction of the Energy Performance Certificate and the possibility of fines if the certificate is not available, we will perhaps see the number of properties being offered for sale reducing to only those serious about selling and not those who have a property for sale since 2006 with sky high prices. Food for thought.

  • #116878
    Profile photo of katy
    katy
    Spectator

    Shakeel, it’s not just the banks who don’t reply to e-mails in Spain. I am sure 99% of the population don’t know where the “send” key is πŸ˜†

  • #116881
    Profile photo of Anonymous
    Anonymous
    Participant

    @katy: yes, but the others don’t need to shift zillions of properties.

    EPC certificate, dont make me laugh. Do you believe SAREB the bad Bank and the other Banks will do a EPC certificate for the properties they are holding.

    These are the kind of laws that get introduced & people ignore them resulting in Citizens get selective or treat all laws with disdain

  • #116882
    Profile photo of Anonymous
    Anonymous
    Participant

    @mgspain wrote:

    Today I needed a cashpoint quick, my bank was not close so I thought I would take the 1 euro charge and use another bank, I located a well known high street caja here in Catalonia and pressed the button for 200 euros. The message came up as an 8 (eight) euro charge. I quickly cancelled. There will be no sorrow from me when that one goes bankrupt.

    Which one was it? CX?

    The other day I was horrified to find out that you now get hit with charges within the Servired network. Might as well not exist. What’s the point of it now if they sting you anyway?

You must be logged in to reply to this topic.