[katy]

property sales were down 24.4% in Feb. Resales down 33.8% according to the Instituto nacional de Estadística.

http://www.diariosur.es/20080428/economia/hipotecas-estadisticas-viviendas-200804280906.html

[Anonymous]

Sales Down 😯

What else was expected as there is a worldwide credit crunch. 😯
NO lending = NO sales and I am amazed it was down such a small amount with issues like the habitaion,corruption issues licences and falling property values around the world.
Add to this the negative press and forums that put Spain down at every opportunity I wonder there are any sales at all.
Think you will find that the U,K will be showing similar figures as the market is in the same free fall.
Some developers here are stopping all building in some areas,share prices are falling and negative equity is now a serious reality.
Sorry 🙂 Forgot falling property prices.dodgy agents,developers,solicitors, strict lending are only in Spain are they. 😯
I GIVE UP 😥

Just Frank 8)

[Anonymous]

Just Frank wrote:

Think you will find that the U,K will be showing similar figures as the market is in the same free fall.

UK has just reported a year-to-year house price decline.

http://www.telegraph.co.uk/news/main.jhtml?xml=/news/2008/04/28/nprices128.xml

[katy]

Frank, why shouldn’t it be on this forum, it is to discuss Spanish property ❓

[Anonymous]

House prices now falling year on year
By Harry Wallop, Consumer Affairs Correspondent

---

I just love the by line on that story- Harry Wallop – 😀 Just the chap you need for a house price article.

[rt21]

Whilst I don’t think it was a surprise to anyone that sales are down it was very interesting to learn by how much.

thank you for posting the article Katy

Richard

[Inez]

Id like to know what criteria they are using as is this sales agrees or actual notary figures??

[katy]

Not sure but it does say “reigstered” not clear if this is the property register 😕

[Anonymous]

Frank said

”What else was expected as there is a worldwide credit crunch.”

you know full well the Spanish property market was crashing long before the credit crunch, due to all the other problems. Why on earth pretend otherwise?

All it’s done is speed up the decline.

[Anonymous]

@goodstich44 wrote:

Frank said

the Spanish property market was crashing long before the credit crunch, due to all the other problems. Why on earth pretend otherwise?

All it’s done is speed up the decline.

Agree and as with UK also.

[Anonymous]

Goodstich 44
Whoes pretending ? Whats your point. 😯
A worldwide credit bubble was in the making and it will devastate many sectors of the markets.
Many countries had a property bubble due to poor lending,easy credit and they are and will be hit further.
The Euro exchange rate will limited U,K purchasers in Spain which will be a trickle from historic figures and this will have a real effect on sales in Spain, in particular new builds.
Whether other countries less effected by the exchange rate will take up some of the slack in Spain only time will tell.
If Spain carry on building at a faster rate than they can sell then of course this will make matters worse.
Of course they hopefully wont and this is what the market needs more than anything else right now.(STOP BUILDING )
The Spanish government need to act without delay in sorting legal issues with properties or it will be pure suicide.
The cowboy aweful agents,solicitors will hopefully have gone to ground and with legal action taken against those involved in planning corruption may be a warning to others.
What perhaps is forgotten that this volitile situation in Spain will be directed more to one or small two bed holiday homes or were purchased in numbers to make money.( the later IS the biggest reason for the problem as they were as greedy and corrupt as anyone else in pursuit of profit.)
Different areas will suffer more that others just like any country.
Now you may have some reason to want to see the total market crash so as to have revenge for your dreadful situation that you are placed in.
Reality is that as soon as the market shows the slightest signs of turning Spain will hopefully be seen as getting their act together and it will again be the place to buy.

Just Frank 8)

[Anonymous]

Frank

my point is, your first response to katy’s report on price crash, was to blame the credit crunch. I think we have to be careful not to convieniantly use this as a smoke screen for the real problems that you mention later in your post.

I believe Spain will only be in a good position to benifit from a market turnaround, if people have faith in the fact that the problems (over development, regulation, corruption, justice) that were their before the credit crunch, have been addressed and made good.

Having said that, the emerging markets for holiday hotspots look even worse in many cases for buyers, and much further away, so Spain may still be condidered by many as the best of a bad lot, or the ‘devil we now know’??

[Anonymous]

Hi Goodstich 44
Totally agree with what you say apart from the devil you know bit.
There are alot of people very hurt at the moment and looking to get some sort of payback mainly from the financial aspect.
New buyers need to be very aware of this as indeed many are looking to pass on the problems they have on some poor unsuspecting soul.
Sellers/developers/investors will go to any lengths to off load and as well we know the grease money will buy off some solicitors.
Just had a better thought regarding awefull estate agents that lie ❓
Most appear to have gone out of business 😆

Just Frank 8)

[Author]

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