Younger Spaniards lose interest in buying a home

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This topic contains 8 replies, has 4 voices, and was last updated by Profile photo of DBMarcos99 DBMarcos99 3 years, 7 months ago.

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  • #57036
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    Anonymous
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    The number of Spaniards under the age of 35 interested in buying a homes has halved in a year, according to research by Básico Homes, a company that specialises in selling bank repo stock.

    They also found that the number of Spaniards looking to buy a holiday-home on the coast has doubled in a year, based on a survey of the public attending a property exhibition in Madrid. Those looking for holiday-home bargains were mainly civil servants and retirees.

    70pc of visitors had a budget of €200,000 or less.

  • #83003
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    DBMarcos99
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    They also found that the number of Spaniards looking to buy a holiday-home on the coast has doubled in a year, based on a survey of the public attending a property exhibition in Madrid. Those looking for holiday-home bargains were mainly civil servants and retirees.

    Very interesting – remember that the economy in Madrid (wage levels etc) are a lot different to say Valancia or Andalucia.. But it seems to indicate that demand on the coast may rise from internal demand, as well as from Russians, Scandinavians etc.
    Are we talking holiday homes, or retirement homes? Not quite the same thing, although it seems to be fairly common for Spanish families to have an apartment in town and also a retreat either in the hills or near the coast for the long August break.

  • #82997
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    Madrid also has the offices & the entrenchment of civil servants, who have the absurd job security They do not produce anything and only add to slowing things down & draining people energy in paper chase instead of creating wealth.

    Nuevo ministario, a massive area of central Madrid is full of government offices. I have had the misfortune to obtain some information from these offices. Three days of being sent from pillar to post, People not at their desk, every one I spoke to just gave me a document it did not matter to them if the document was relevant to my question or not !!!!.

  • #82994
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    DBMarcos99
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    @shakeel wrote:

    Madrid also has the offices & the entrenchment of civil servants, who has the absurd job security They do not produce anything and only add to the slowing things down & draining people energy in paper chase instead of creating wealth.

    Nuevo ministario a massive area of central Madrid is full of government offices. I have had the misfortune to obtain some information from these offices. Three days of being sent from pillar to post, People not at their desk, every one spoke to just gave me a document it did not matter them if the document was relevant to my question or not !!!!.

    I taught a few classes in Nuevos Ministerios, but it wasn’t for a governmental body. A foreign private entity in the financial world actually, that employed mainly Spanish people. Oh and I also did some classes for a US/Asian media giant close by. I can’t say I got the impression of the area being dominated by government offices (more financial, media and retail giants) but of course, unless I had entered one of their offices I doubt I would have noticed. What is really big in Madrid are the large IT outfits both the international lot (IBM, Microsoft, Sun etc) and the Spanish (Jazztel, Telefonica, Fon etc). And the banks of course – they have some huge complexes.

    Edit: Thinking back a little more, there are some big governmental buildings along the Castellana leading to N.M. But I never paid any attention to them – The armed police around them signalled that loitering around was probably not a good idea!

  • #82928
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    Nuevos Ministerios is like Whitehall with a bit of the City thrown in.

    Talking holiday homes.

  • #82867
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    @Marcos, new businesses must have set & perhaps those working closely with the Government. Catellana is a long road, with Banks, head offices, & other multi national & not forgetting Real Madrid home ground. The Majority of IT industry was/is based in Trescantos.

    @mgspain: I was trying to say that people from Madrid buying make sense as they are plenty of functionarios in Madrid with their job security can afford to move forward with certain amount of security.
    However on the CDS on the opposite site of the Marbella hospital there is an area on the Beach front where you will find used accommodation, chalets etc constructed for the members of the Junta de Andalucia.

    @Mark. Thank you drawing parallels with Whitehall.

  • #82853
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    Chopera
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    Madrileños always told me that funcionarios outside Madrid got a better deal – they got the same wages, but far lower living costs. I guess it depends on the funcionario though. Anyways the mass sacking of administrative funcionarios is the part of this crisis I am most looking forward to. Only when that happens, along with massive tax cuts to starting up and running a business, will I start to see a light at the end of the tunnel.

  • #82843
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    mgspain: They may be end up on paro. The redundancy will pay of the borrowing and the pension will be used for the IBI, gastos de communindad etc.

    Of course there are funcionarios who work hard & make a positive contribution to the society e.g teachers,doctors, fireman, nurses. I detest the paper pushing ones and I am very certain that Chopera was referring to them

  • #82820
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    Chopera
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    @shakeel wrote:

    mgspain: They may be end up on paro. The redundancy will pay of the borrowing and the pension will be used for the IBI, gastos de communindad etc.

    Of course there are funcionarios who work hard & make a positive contribution to the society e.g teachers,doctors, fireman, nurses. I detest the paper pushing ones and I am very certain that Chopera was referring to them

    Yes I was careful to write “administrative funcionarios”. And they spend more of their time reading the papers than pushing them 😉

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