February 10, 2013 at 11:01 am #57267
This Guardian article is worth a read about it’s views on property markets that have boomed and bust 🙄
UK doing ok, more demand than supply, stagnant is good in world terms 😉
Spain still needs another 20% fall on property prices, at least another 3-4 years although some say much longer. Would hate to see people lose another 20% buying too early, that’s a lot of money 😮
Ireland bouncing back
Dubai too sterile and blooming hot
Iceland too cold for me to consider 😉
February 10, 2013 at 11:10 am #115175
Good article and worth a read. I don’t know who the ‘expert’ is the article quotes for Spain but 3 to 4 years looks optimistic to me given the overall situation in the world. Spain is likely to have zero growth in 2013 and only modest growth thereafter.
I would say minimum 5 -7 and maybe 10 of recovery years before there is significant improvement.
February 10, 2013 at 11:19 am #115176
Most believe at least 10 years logan, and Mark’s view of 2 million unsold properties not so long ago at 100,000 sales per year, 20 years which makes sense.
I like the look of Ireland’s property market in spite of the weather there 😉
February 10, 2013 at 12:14 pm #115179
“Iceland too cold for me to consider”
The capital controls (illegal under EEA law, but..) mean you cannot take money out of the country and the ISK is basically worthless so all local ‘money’ is invested locally in property. The population has fallen, so the demand is not for housing. Its another crazy bubble and ISK only so.. meaningless as it will crash when the capital controls are removed and real (floating) exchange rates re-introduced.
February 10, 2013 at 3:41 pm #115184
Ireland is brilliant, take it from someone now here 🙂 Difficult at the moment at who to choose, England or Ireland (rugby…) I love Ireland. It’s green, it’s friendly, it’s happy (those I know).
We’ll go back to Spain on holiday, and my husband wants to retire there….. It might be long enough for me to forgive the problems we’ve suffered (about 40 years till we retire!)
February 10, 2013 at 4:42 pm #115186
(about 40 years till we retire!)
Spain will be very different country then Isme. How I wish I would be around to see it. There again perhaps not. 😆
February 10, 2013 at 7:49 pm #115190
Problem with that Guardian article is the Spanish section is written by Giles Tremlett, who is their journlist on all matters Spanish and not really someone with their ear to the ground regarding the property market. For a start he quotes that prices have fallen by 27% from peak when this forum concluded that real prices had fallen by something like 40% about 6 months ago (it must be nearer 50% now). So talking about a further fall of 20% is pretty irrelevant – we’re already there!
However I personally think talking about property prices on a national level is pretty pointless anyway, as is talking about the oversupply on a national level (unless you are somehow investing in property on a national scale). Most people are looking to buy in a particular area, and that’s the market they should be researching.
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