- This topic has 23 replies, 8 voices, and was last updated 15 years, 7 months ago by
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Hi all,
This night I have found a catastrophic report by the CEPS (Centre for European Policy Studies) were you can find exactly what is the actual situation of the property in Spain and the future of our third-world economy:
http://shop.ceps.eu/BookDetail.php?item_id=1545
The report is in english and the PDF download is free at the right of the web page in the [ Download PDF for free] section.
I really think that is the time to save and escape from the debacle that is comming.
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Don’t see anything new in this report. Spain has seen tremendous growth in property in previous years, common sense dictates that this cannot carry on.
Interesting that they dismiss this happening in the UK, however, I bought a house in the UK had it for 5 years and sold it for close to 200% of the price I bought it for.
It also states in the report that the report is to prompt a reaction from others in similar fields.
It is also worth noting that before I left the UK in 2003 it was being reported that the housing market would crash.
In Spain I think there has to be some form of adjustment but really dont think it is a panic and get out scenario. Most people that ‘invested’ in the property market should be in it for the medium/long term anyway and those that bought to live or holiday here should not be affected, it should in theory only affect those who were looking to make a quick profit.
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Thanks for the interesting report Peter.
Three key factors seem to apply to Spain that could have a negative effect on house prices compared to other European countries.
1. The number of dwellings completed per household – high ratio in Spain.
2. Whether the increase of population will continue at current growth, especially if the numbers of immigrant construction workers drop dramatically as construction slows down and how this fact could affect the market.
3. The massive housing stock ‘overhang’ that currently exists. This is something that certainly the UK doesn’t have, with France and Germany seemingly keeping new construction more in line with population growth/ratio per household. Will be interesting to watch in the coming years.This report may be too late for many recent purchasers who wanted a decent investment as well as a property to enjoy, but at least it can act as a warning to potential purchasers if investment is also important to them. I for one hope to buy again in Spain, but will be waiting at least a couple of years before seriously considering taking that step. Feel fortunate to have time on my side.
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Frank – stop being naughty with the ‘newbie’. 😉
Russ, welcome to SPI…..and rule number 1 of the forum is that everything contributed is in that particular member’s opinion. All opinions/contributions are at best valued and appreciated, at worst….well, they make for interesting reading – even those from ‘armchair pundits’ who regularly ‘pontificate’. 🙄
Healthy debate and a good source of information is what a good forum is all about, isn’t it Frank. :twisted:……………:lol:
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OK.
Point 1. Not necessarily a newbie at this game….only this forum!!!!!
Point 2. I agree that good and bad points should be discussed anf advice given.
Point 3. Please will all members remember that if I say something ‘out of turn’ dont get mad or bitter, one thing about all these forums is that the way you write it isnt always taken the same as you would have said it.
Point 4. I do intend to have a laugh at the same time if I can
Point 5. I have now run out of points 😆Hope to enjoy many future discussions
p.s. if anyone thinks this post is p****y U got it wrong 😀
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Peterparra
“I really think that is the time to save and escape from the debacle that is comming, “
What are we talking about here.?
The U.K housing market where many are now getting there homes repossessed.?and some have borrowed as much as 5 times income to buy property at the high?
Maybe the world stockmarket?
Maybe the American economy.?
Maybe Al Quaida.?Silly me 😕 Now let me guess ? bet its the housing market in Spain,am I right ?
Thanks for your input trolling around for every negative snippet of info from above all things ?newspapers. 😆
Sorry if we dont all trust this so called information which brings about such rash statements.
The fact is we can look at the past and only put a view on the future but if its looked at from the inside of a goldfish bowl then perhaps its going to be a from a very narrow viewpoint.Frank 8)
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OK, OK, I get it now. If i hack anyone off so be it!!!!!!!
Everywhere has problems, main problem is (no offence to those before tons of info was available) that some people are easily pursuaded by the men in suits that give you all this stuff about how your property can make you loads of money in a few years and how that. Free trips also sound enticing and ´very nice of them´
On the other hand sometimes it is actually out of the agents hands when you get all the nasty things that a few developers/mayors do, these Ireally feel sorry for (the people that bought not the agents)
Look at other housing markets, you HAVE to compare. The UK is well overpriced, I know that from when I sold my property just over 3 years ago.
If your wondering, I got stung too, not in respect of dodgy dealers but an Agent. Found out eventually that the couple who had owned it previously would have sold it for half the price……but I was happy to pay it at that time.
It is NOT just Spain that has problems peeps 😯
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@Just Frank wrote:
Rule No 2 ? Dont believe everything you read. 😉
Excellent advice Frank.
Sometimes ‘little gems’ come along on the forum like this reference to the Junta de Andalucia’s 1986 PGOU plan:
“….in the end, all of this mentioning if it was built on this type of land or another type of land will almost be impossible to prove as records either did not exist or they will have gone walkies” 😆Or are you referring to things like sales brochures for off-plans, where garden apartments, once built, seem to be missing…..the garden.
Or even a development with its own private golf course, once built, seems to be missing……the golf course?
As we’ve both learned to our cost, believing everything you read can be fatal indeed. 🙁 -
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Charlie
Yep 😉 Dont believe any sales bull and in particular off plan developments.(IN ANY COUNTRY ) 😥
Those that in the main post on this forum are the best examples to show the horrors that can and do go on.
There are also many that post that can put valid opinions of how they can take variuos ,short ,medium.longer term views. ❓ Thats rule 7
DONT BUY OFF PLAN ? Touch/feel/look at what you are buying and trust no one. 😈
Dont trust everything you read in the newspapers and then someone that posts only negatives on this basis that creates more worry than may be is needed. 😈
Dont trust people on forums that may have hidden agendas. 😉
Dont trust those that post only positives but understand that for the most there is the positive. 😀 (FACT?)
Dont trust those that wish to pick out any phrase in a posting and try to take a negative view and start an argument. 😉
Dont trust the total advice of everyone on a forum as in the main it applies to their case and many deep scars are opened which cloud common sence. 😕
Its your problem,your money and your future and easy to take the advice you want to hear and not what you need to hear.Dont trust anyone that thinks they have all of the answers.
NEVER TAKE A ONE FITS ALL ADVICE.ITS OFTEN VERY DANGEROUS.
UNDERSTAND THAT 90% of those that post on a forum share similar problems and want to see all regular posters that take their time and efforts working together trying to help those in variuos situations through their bad and hopefully better times 😉
IS THAT CLEAR ENOUGH 😉
Frank 8)
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Dear Frank.
We need all points of views and not only positive but also negatives ones. I recognice that I am only posting negatives ones and I ask for all excuses if anyone need it.
I am only posting worrying news that are appearing in the spanish media in these days and of course you dont have to believe all you read but just read it and think!
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