Re: Re: Costas – When will this market bottom?

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katy
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Dates for the last property crash on the costas are a bit out. The bottom of the market was cerca 1995 and this was when the banks started to offload their properties. I should know we bought some. You are correct in saying that prices shot up though, by 2000 prices had tripled from rock bottom.

History won’t repeat itself this time, different ball game. There is a massive glut of property, not so last time. There wasn’t the level of corruption which ended with 30,000 illegal homes like now. Also there wasn’t the internet and forums like this one. In 1995 the coast was still attractive and not full of council build type blocks of apartments.

Prices have scarcely fallen, often see adverts on here at 50% off….yeah, off some crazy price cobbled up by a developer over a dinner with his bank investor! Meaningless.