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BBC news video on the Spanish property market, plus the Government road show:
Having seen some of these developments again on the clip it seems to have lost the gloss now, especially look-a-like apartment blocks and urbanizations of rows of similar houses, and many of those properties for sale seem stuck in a time warp from standards and quality which is 5 years plus old, they mainly look tired and out of date.
I think apart from costs of buying coming down (long overdue), developers should start thinking smaller developments, I mean 1-10 units, but a much better build and quality, and keep them different to other developments. Plus of course, have complete transparency and guarantees, with permanently retained views if that’s possible in Spain.
Having seen some of these developments again on the clip it seems to have lost the gloss now, especially look-a-like apartment blocks and urbanizations of rows of similar houses, and many of those properties for sale seem stuck in a time warp from standards and quality which is 5 years plus old, they mainly look tired and out of date.
I think apart from costs of buying coming down (long overdue), developers should start thinking smaller developments, I mean 1-10 units, but a much better build and quality, and keep them different to other developments. Plus of course, have complete transparency and guarantees, with permanently retained views if that’s possible in Spain.
Reducing the VAT does not resolve the issues of illegal builds, corrupt Councils, lawyers, notaries , unenforseable guarantees, lack of compentsation for people who have been defruaded, Hacienda not accepting selling/buying prices. Simply stating that it was now safe to buy is accepting that in the past it was not. I for one will not accept anything that the Government says.
Reducing the VAT does not resolve the issues of illegal builds, corrupt Councils, lawyers, notaries , unenforseable guarantees, lack of compentsation for people who have been defruaded, Hacienda not accepting selling/buying prices. Simply stating that it was now safe to buy is accepting that in the past it was not. I for one will not accept anything that the Government says.
The European economy is in the grip of a slowdown bordering on recession right now. Most G7 economies will struggle to post growth above 1% this year. Unemployment continues to rise in all sectors and crucially for the housing market consumer and investor confidence is at an all time low.
Add these woes to the fact that most European banks are facing major losses in Greece and possibly other countries. Lending institutions in Spain are being nationalised, merged and are seriously cash strapped. New capital requirements are forcing lending institutions to seriously restrict credit. Most of that share will be taken up by business and commercial lending not in more riskier housing projects or finance a second home.
This current negative financial situation is likely to persist for many years because Europe’s politicians are reluctant to take risks and come up with a macro financial plan that could kick start their economies.
Faced with these undeniable facts why would anyone even discuss the possibility of a recovery in holiday home markets either in Spain or elsewhere? Trying to tempt buyers to come back in this climate is like shooting at the moon.
Traditionally this market is a luxury category and among the last markets to rebound when an upturn arrives. People don’t need it to survive.
What we have at the moment is just that a struggle for our financial and economic survival.The European economy is in the grip of a slowdown bordering on recession right now. Most G7 economies will struggle to post growth above 1% this year. Unemployment continues to rise in all sectors and crucially for the housing market consumer and investor confidence is at an all time low.
Add these woes to the fact that most European banks are facing major losses in Greece and possibly other countries. Lending institutions in Spain are being nationalised, merged and are seriously cash strapped. New capital requirements are forcing lending institutions to seriously restrict credit. Most of that share will be taken up by business and commercial lending not in more riskier housing projects or finance a second home.
This current negative financial situation is likely to persist for many years because Europe’s politicians are reluctant to take risks and come up with a macro financial plan that could kick start their economies.
Faced with these undeniable facts why would anyone even discuss the possibility of a recovery in holiday home markets either in Spain or elsewhere? Trying to tempt buyers to come back in this climate is like shooting at the moon.
Traditionally this market is a luxury category and among the last markets to rebound when an upturn arrives. People don’t need it to survive.
What we have at the moment is just that a struggle for our financial and economic survival.Today, 19:30 on BBC One (Oxfordshire, South only)
Inside Out examines the fate of hundreds of ex-pats who face losing their Spanish homes, deemed illegal by the authorities. Jon Cuthill also hears from people with face blindness and uncovers why a spy and murderers are honoured on a war memorial.
Today, 19:30 on BBC One (Oxfordshire, South only)
Inside Out examines the fate of hundreds of ex-pats who face losing their Spanish homes, deemed illegal by the authorities. Jon Cuthill also hears from people with face blindness and uncovers why a spy and murderers are honoured on a war memorial.
Also, just found this recent BBC video news report on the problems Brits are having with property in Spain.
Also, just found this recent BBC video news report on the problems Brits are having with property in Spain.
“If you want to come to Spain rent, don’t buy. For gods sake don’t buy”.
Wise words from a broken man. 🙁“If you want to come to Spain rent, don’t buy. For gods sake don’t buy”.
Wise words from a broken man. 🙁
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