Could black money be the answer

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    • #55485
      GJ
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      Just read this article by Mark

      https://www.spanishpropertyinsight.com/buff/2010/03/17/official-spanish-house-price-index-invites-ridicule/#more-4100

      The only thing that occurred to me is that data from the Notaries is based on what is on the Escitura.

      It was common in Spain to have at least 30% in black money in 2007 and even more prior to that.
      Black money is far less common now especially amongst non Spanish buyers.

      This could explain why there are no real falls in Murcia and Andalucia and bigger falls in the areas where the Spanish tend to be the main buyers.
      For a number of reasons there is no way of measuring the true fall in prices statistically and Marks anecdotal guess is much nearer to the truth.
      Property prices on the Urbs that most Brits bought as a off plan investment in 2007 and earlier are off the cliff.
      2 bed 2 bath comm pool not close to beach and not walking distance to anything not selling at any price.

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