Not a very scientific survey, but since fotocasa is my favourite website to track what is happening in the region where I own, I started to record number of properties for sale in El Ejido.
That’s a 25% increase in volume in 3 months.
Being a avid fan of Edward Hugh blog and watching closely what is happening in Greece, I can’t help feel we are reaching a turning point. I think 2010 is going to be a very interesting year for the Spanish property market and we see capitulation for sellers that have refused to accept the economic situation.
I think the storm hasn’t hit us yet. Quantitve Easing (printing money), has been a desperate attempt to inflate the property bubble, and increase the electoral chances of new-liebour. Both Britain and Spain have hit the rocks. My prediction is we will see significant falls in valuations later this year. (However – I usually get things wrong 😉 , so perhaps prices have already bottomed out)