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There are indications buyers are becoming more confident in the state of the real estate market in Spain.
‘Growing confidence’ in Spanish property market
Spanish property prices are starting to register smaller falls, according to new figures from Tinsa’s IMIE General Index.
On average prices fell by 10.8 per cent in June compared to last year – a smaller decrease than the 11.1 per cent annual drop in May.
And while house prices in the major Spanish cities continued to drop, the Balearic and Canary Islands again proved the most resistant markets to the negative trends: house prices there fell by a far less severe 6.8 per cent year-on-year in June.
Decline in Spanish property prices slowing
Murcia is one region of Spain where recovery is expected.
The upcoming Paramount theme park will deliver a major boost to the property market. Construction is set to begin there in October.
“Add the “Paramount Factor” and the assurance from the President of Murcia that the new Corvera International Airport will be operational in October this year, and Murcia could not be a more attractive Spanish proposition.”
Some areas in Spain have seen a slowdown in the decline of house prices
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I’m not sure why the OP is posting those links, when he states he’s waiting for property to come down to £20k levels.
Lower house prices are good news for the economy and first time buyers. Like the US and Ireland, Spain will soon start entering recovery (they are already doing extremely well on the exporting side).
The second quarter actually saw the biggest fall in prices of the current crisis, and property prices are now at 2004 levels. Which is, as I said, a good thing overall, although obviously not for someone who bought at the top of the market. I’m telling people in London not to buy at the top of the market there – after the Olympics there will be falls.
article in Spanish – properties suffer biggest price falls of crisis.
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I’m not sure why the OP is posting those links, when he states he’s waiting for property to come down to £20k levels.
Lower house prices are good news for the economy and first time buyers. Like the US and Ireland, Spain will soon start entering recovery (they are already doing extremely well on the exporting side).
The second quarter actually saw the biggest fall in prices of the current crisis, and property prices are now at 2004 levels. Which is, as I said, a good thing overall, although obviously not for someone who bought at the top of the market. I’m telling people in London not to buy at the top of the market there – after the Olympics there will be falls.
article in Spanish – properties suffer biggest price falls of crisis.
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So a theme park is going to fix the county, quick tell the Greeks, they can build two. LOL.
Ive been hearing that it’s starting next month for the last two years!
As for the slowdown of house price falls the .3% is negligible and it’s been 1 month, hardly a trend worth caring about.
When they slow for repeat months/quarters and by bigger margins I would pay attention.
And as for the Canarys and Balearics they might as well be different countries their economy’s are very separate/different.
Total crapshoot.
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So a theme park is going to fix the county, quick tell the Greeks, they can build two. LOL.
Ive been hearing that it’s starting next month for the last two years!
As for the slowdown of house price falls the .3% is negligible and it’s been 1 month, hardly a trend worth caring about.
When they slow for repeat months/quarters and by bigger margins I would pay attention.
And as for the Canarys and Balearics they might as well be different countries their economy’s are very separate/different.
Total crapshoot.
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Hybrid I’m glad you can see the utter crap spouted on here by some 😆
Clearly if someone’s living depends on property sales, or if anyone is trying to sell there is some sympathy, but the truth is the truth, things aren’t good for not only Spain but Cyprus and many other Eurozone countries and there’s no getting away from it 🙄 Some people will tell you anything though and mislead the unwary 🙄
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Hybrid I’m glad you can see the utter crap spouted on here by some 😆
Clearly if someone’s living depends on property sales, or if anyone is trying to sell there is some sympathy, but the truth is the truth, things aren’t good for not only Spain but Cyprus and many other Eurozone countries and there’s no getting away from it 🙄 Some people will tell you anything though and mislead the unwary 🙄
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Well if Nouriel Roubini the respected economist is right and he usually is the global economy is heading for ‘ a perfect storm’ in 2013 and an escalation of the Eurozone crisis.
I read rubbish all the time such as this post and links by jakesuper which are just advertorials and have no basis or point but to mislead. In fact I don’t even think they even do that any more.
Given the current state of Spain and it’s obvious economic downward spiral only a fool would invest in anything in the country.
I believe it’s getting close to a tipping point where it becomes almost impossible for market sectors in the Eurozone to recover. -
Well if Nouriel Roubini the respected economist is right and he usually is the global economy is heading for ‘ a perfect storm’ in 2013 and an escalation of the Eurozone crisis.
I read rubbish all the time such as this post and links by jakesuper which are just advertorials and have no basis or point but to mislead. In fact I don’t even think they even do that any more.
Given the current state of Spain and it’s obvious economic downward spiral only a fool would invest in anything in the country.
I believe it’s getting close to a tipping point where it becomes almost impossible for market sectors in the Eurozone to recover. -
Agreed. I dont blame them and i do feel for them.
But, this is a property forum. People come here for property advice, as I have done so.
Im smart enough to know its bad and do not appreciate being mis-lead otherwise.
I want to know just how bad, not rubbish about everything recovering by 3pm tomorrow bla bla bla…
The info is amazing here, ive learnt a lot in the last few days so dont let these idiots get ya down 🙂
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Agreed. I dont blame them and i do feel for them.
But, this is a property forum. People come here for property advice, as I have done so.
Im smart enough to know its bad and do not appreciate being mis-lead otherwise.
I want to know just how bad, not rubbish about everything recovering by 3pm tomorrow bla bla bla…
The info is amazing here, ive learnt a lot in the last few days so dont let these idiots get ya down 🙂
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@logan wrote:
Given the current state of Spain and it’s obvious economic downward spiral only a fool would invest in anything in the country.
I believe it’s getting close to a tipping point where it becomes almost impossible for market sectors in the Eurozone to recover.Very hard to take you seriously when you go competely over the top. A shame as you can otherwise talk in a logical way.
Even after a major war market sectors can recover. It’s how long it will take that is the question.
Plenty of companies and funds are investing in Spanish ventures btw as you can see from the good news/opportunities thread where there is a long list. I suspect you meant the property sector? -
@logan wrote:
Given the current state of Spain and it’s obvious economic downward spiral only a fool would invest in anything in the country.
I believe it’s getting close to a tipping point where it becomes almost impossible for market sectors in the Eurozone to recover.Very hard to take you seriously when you go competely over the top. A shame as you can otherwise talk in a logical way.
Even after a major war market sectors can recover. It’s how long it will take that is the question.
Plenty of companies and funds are investing in Spanish ventures btw as you can see from the good news/opportunities thread where there is a long list. I suspect you meant the property sector? -
Markets eventually turn around but it will take lots of lots of time because how todays states are handling the correction in prices. A quick strong fall would be best for everyone in all market situations and that is something that current economists doesn’t seem to understand.
Now some hot air have been let out but at the same time they pump in some new hot air so it cushions the blow which will only make this situation worse than it is.
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Markets eventually turn around but it will take lots of lots of time because how todays states are handling the correction in prices. A quick strong fall would be best for everyone in all market situations and that is something that current economists doesn’t seem to understand.
Now some hot air have been let out but at the same time they pump in some new hot air so it cushions the blow which will only make this situation worse than it is.
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@Ardun wrote:
Markets eventually turn around but it will take lots of lots of time because how todays states are handling the correction in prices. A quick strong fall would be best for everyone in all market situations and that is something that current economists doesn’t seem to understand.
Now some hot air have been let out but at the same time they pump in some new hot air so it cushions the blow which will only make this situation worse than it is.
You may be right. I think in property terms prices will firm up a little this Autumn, but they still need to fall a little more (maybe next year?)
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@Ardun wrote:
Markets eventually turn around but it will take lots of lots of time because how todays states are handling the correction in prices. A quick strong fall would be best for everyone in all market situations and that is something that current economists doesn’t seem to understand.
Now some hot air have been let out but at the same time they pump in some new hot air so it cushions the blow which will only make this situation worse than it is.
You may be right. I think in property terms prices will firm up a little this Autumn, but they still need to fall a little more (maybe next year?)
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