Spanish property market 2008: soft landing or train wreck?

LoadingFavourite

This topic contains 3 replies, has 4 voices, and was last updated by Profile photo of peterhun peterhun 6 years, 6 months ago.

  • Author
    Posts
  • #55615
    Profile photo of Anonymous
    Anonymous
    Participant

    viewtopic.php?f=2&t=2781

    Well the old thread was locked. But 2 years on we have our answer and train wreck it certainly was (and continues to be).

    Did you post in the thread? Were you correct?

    I thought this was the thread in which a lot of posters were also saying that UK prices would suffer a similar fate (but 23 pages was too much for me to find out!).

    Well for me my UK property is to all intents and purposes the same value as it’s peak in 2007 and would sell pretty quick if I marketed it.

    Looks like Spain and UK in the end were very, very different

  • #98608
    Profile photo of Anonymous
    Anonymous
    Participant

    The market actually fell a little lower than I had anticipated, and very slowly too. Even so, there is still plenty of “peak” priced property for sale. I feel that the reason the market fell further was because, not only did we have a bursting property bubble, we have also had to contend with the banking crisis & global recession.

    Now, there are a few signs that the market has levelled off, but I cannot help thinking we are in for another significant fall. When you consider all those bank repos, unemployment in Spain, the tragic state of UK, and Euro economies, scarcity of mortgages, and finally affordability. It doesn’t look too good from my viewpoint. Who knows what the next four to six years in Spain will bring, but it’s looking pretty gloomy. At least the sun is still shining

  • #98613
    Profile photo of katy
    katy
    Spectator

    Interesting to look back at what was said in the past. Then there are the old posts that prices have bottomed, sales are up. First Cuckoo 😆

  • #98616
    Profile photo of peterhun
    peterhun
    Participant

    @jp1 wrote:

    http://www.spanishpropertyinsight.com/forums/viewtopic.php?f=2&t=2781

    Well for me my UK property is to all intents and purposes the same value as it’s peak in 2007 and would sell pretty quick if I marketed it.

    Looks like Spain and UK in the end were very, very different

    The UK is screwed in my opinion. The only reason that house prices didn’t continue their collapse is that there was an election on and Labour printed £200billion in stimulus money to keep themselves in power. This is excluding the skeletons in the cupboard/minefield that the coalition has inherited. If you have any intention to sell up and move out of the UK in the near future, do it now. We are on a long, slow path to lower house prices and economic depression, if you remember the last crash,its going to be worse.

You must be logged in to reply to this topic.