Will house prices in Spain ever return to 1996 levels

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This topic contains 3 replies, has 4 voices, and was last updated by Profile photo of peterhun peterhun 5 years, 3 months ago.

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  • #56310
    Profile photo of Anonymous
    Anonymous
    Participant

    Given the crash in property prices in spain started in 2006/2007 will house prices ever go back to what they were prior to the boom having started in 1996?

    In other words, can we ever expect house prices in spain ever return to what they were back in 1996? I would have thought that house prices have fallen from the peak achieved in 2006 by 50% already and I am hoping that house prices will fall a further 50% over the next few years, is this realistic?

    Given the current financial crisis in the euro zone and the very real possibility that Spain will default on its debt and that unemployment is 20% and soaring and youth unemployment is 40% and rising and rampant corruption in spain and the poor exchange rate of the pound Sterling against the euro and the Valencia land grab laws – will all this result in house prices ever returning to 1996 levels?

  • #105494
    Profile photo of katy
    katy
    Spectator

    Crystal ball anyone 🙄

  • #105497
    Profile photo of Chopera
    Chopera
    Participant

    @desolation wrote:

    Given the crash in property prices in spain started in 2006/2007 will house prices ever go back to what they were prior to the boom having started in 1996?

    In other words, can we ever expect house prices in spain ever return to what they were back in 1996? I would have thought that house prices have fallen from the peak achieved in 2006 by 50% already and I am hoping that house prices will fall a further 50% over the next few years, is this realistic?

    Given the current financial crisis in the euro zone and the very real possibility that Spain will default on its debt and that unemployment is 20% and soaring and youth unemployment is 40% and rising and rampant corruption in spain and the poor exchange rate of the pound Sterling against the euro and the Valencia land grab laws – will all this result in house prices ever returning to 1996 levels?

    Under certain conditions (e.g. Germany leaving the euro) then it’s possible that Spanish property might crash back down to late 1990s levels (when measured in pounds). The question is whether it’s worth waiting around to find out? Or are there better things to do with your money?

  • #105501
    Profile photo of peterhun
    peterhun
    Participant

    @chopera wrote:

    @desolation wrote:
    The question is whether it’s worth waiting around to find out? Or are there better things to do with your money?

    Yes, don’t waste your time, because its going to be many years before investing in Spain, as opposed to buying to live, is going to be a good use of capital.

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