Re: Re: What Will Spain’s Future Property Market Look Like?

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katy
Spectator

@dbmarcos99 wrote:

@katy wrote:
As I said above

All that Russian stuff is a myth, the sources are always estate agents. Everywhere in the Med is full of Russians right now including Turkey and Greece!

Not according to that report in the UK newspaper the Guardian.

The biggest concentration of Russians is along the Costa Dorada at Tarragona, where they are occupying 40% of hotel beds this summer, twice as many as the British. “The rise in the number of Russian tourists has compensated for the decline in Spanish ones,” Maria Eugenia Arbó, president of the local hotel association, told the Spanish newspaper La Vanguardia.

Now you could argue that it’s info from a biased source (what isn’t?) but the hotel association is not an estate agent.

I did read the article 🙄 I don’t dispute the tourist figures. I was refering to the Russians supposed to be buying property.

Here, too, they are buying property, either as second residences or to rent out to fellow Russians. “We mostly sell to families who have come here for their holidays,” said Grigory Bekishev, a Russian who set up an estate agency in Salou on the Costa Dorada. “They are mostly second homes. Some are luxurious, some are normal flats. But they have to be new. They won’t buy anything old.”

“They usually buy flats for around €220,000 to €300,000 with a view of the sea,” Manuel Gonzálvez, another Salou estate agent. “It’s a new market and a very interesting one as far as we can tell.”