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I won’t buy in Spain until I can buy a house there for £20,000. This is the target I have set myself but is this realistic? With the deteriorating economic situation in Spain that seems to be getting worse by the day and the likelyhood that Spain will drop out of the Euro and adopt the Peseta resulting in an instant devaluation of the Peseta of fifty percent resulting in a fifty percent drop in house prices then one would expect that one day you could realistically be able to buy a house in Spain for as little as £20,000 pounds sterling.
Currently unemployment in Spain stands at 24% and youth unemployment at 40% but in reality the true figures are double those that have been reported with a true figure for unemployment in spain being more like 48% and youth unemployment being 80%.
Given such dreadful economic statistics and that Spain’s economy just seems to be getting worse by the day then could it be possible that one day, some five to ten years from now, that you could buy a house in spain for as little as £20,000 pounds sterling?
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Maybe you should look in the places where it looks like a Northern England Council Estate if you want something cheap. Buying cheap you get what you pay for. I was in Barcelona yesterday and was impressed with the City. Lovely smooth running Mercedes buses. Quite a walk at Paseo de Gracia to get the L$ to Barceloneta but well worth it for a swim there. Rather busy but gentle sloping beach unlike some of those further up the coast. My menu del dia @9.95 came with a full bottle of vino Tinto in a modern restaurant near to Plaza Espana. But he charged me for the coffee !
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@jakesuper wrote:
I won’t buy in Spain until I can buy a house there for £20,000. This is the target I have set myself but is this realistic? With the deteriorating economic situation in Spain that seems to be getting worse by the day and the likelyhood that Spain will drop out of the Euro and adopt the Peseta resulting in an instant devaluation of the Peseta of fifty percent resulting in a fifty percent drop in house prices then one would expect that one day you could realistically be able to buy a house in Spain for as little as £20,000 pounds sterling.
Currently unemployment in Spain stands at 24% and youth unemployment at 40% but in reality the true figures are double those that have been reported with a true figure for unemployment in spain being more like 48% and youth unemployment being 80%.
Given such dreadful economic statistics and that Spain’s economy just seems to be getting worse by the day then could it be possible that one day, some five to ten years from now, that you could buy a house in spain for as little as £20,000 pounds sterling?
what do you want to buy? where do you want to buy? etc… if you are not fussed about amenities, location, size and so on, you should already be able to find it
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Tip 25 cents !!!. I enjoyed the meal and I was happy but there is always another restaurant in Barcelona!. I remember Barcelona when the trains from Port Bou ran into Barcelona Termino and there were small cafes and restaurants around the outside and one in particular serving Zarzuela from a big pan. . Those were the days when the washing hung out on the balconies and the little pensions were 50 pesetas for the night. But Barcelona a great City and I will stop there from the Canaries again and train back to UK as I get older.
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It’s true – there are cheap places for sale. For instance this 3-bedroomed piso in Granada – asking price is 24,800 Euros (around 19,500 in pounds).
http://www.idealista.com/pagina/inmueble?codigoinmueble=VP0000005384953&numInm=41&edd=list
There is always a drawback – with this property it’s that it’s on the 3rd floor with no lift. You may be happy climbing the stairs now, but it becomes a problem as you get older.
Of course currency fluctuations can also affect the price in pounds. If the pound rose to 1.50 (which I doubt, but who knows?), then the price of that flat would equate to 16,500 in pounds – however you have to remember that more buyers (like myself) will come out of the woodwork as bargains increase.
Equally, the Euro could recover its strength…I know many will say it’s unlikely, but we have all seen the Euro go from 1.65 down to 1.08 pounds at one stage. If you are 100% sure of a currency future value then a lucrative profit on the markets is assured!
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It’s true – there are cheap places for sale. For instance this 3-bedroomed piso in Granada – asking price is 24,800 Euros (around 19,500 in pounds).
http://www.idealista.com/pagina/inmueble?codigoinmueble=VP0000005384953&numInm=41&edd=list
There is always a drawback – with this property it’s that it’s on the 3rd floor with no lift. You may be happy climbing the stairs now, but it becomes a problem as you get older.
Of course currency fluctuations can also affect the price in pounds. If the pound rose to 1.50 (which I doubt, but who knows?), then the price of that flat would equate to 16,500 in pounds – however you have to remember that more buyers (like myself) will come out of the woodwork as bargains increase.
Equally, the Euro could recover its strength…I know many will say it’s unlikely, but we have all seen the Euro go from 1.65 down to 1.08 pounds at one stage. If you are 100% sure of a currency future value then a lucrative profit on the markets is assured!
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OK quoting property off the web but you will never know until you go into it. There are scammers on there, there are some that are leader and that is only the deposit required. Sometimes I think those property sites are specially for dreamers. Have to ask yourself if it’s so good a bargain why some Spaniard hasn’t snapped it up. I know times are bad with 25% unemployment but that means 75% are working
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OK quoting property off the web but you will never know until you go into it. There are scammers on there, there are some that are leader and that is only the deposit required. Sometimes I think those property sites are specially for dreamers. Have to ask yourself if it’s so good a bargain why some Spaniard hasn’t snapped it up. I know times are bad with 25% unemployment but that means 75% are working
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I dont think that is fair.
Employment is at 25%. Young unemployment is at 50%. That is lots of people not buying. Plus the working 75%/50% are probably fearing of losing their jobs any minute. Buying a house is not high on the agenda when you can see your neighbours struggling to feed themselves. It would put me off.
Then there is location of these properties in relation to jobs. The people need to work and they will follow the jobs to those areas. There are many many more properties for sale today then a few years back that are not even considered by locals because of work.
A foreigner looking for a holiday or retirement home is a different matter.
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I dont think that is fair.
Employment is at 25%. Young unemployment is at 50%. That is lots of people not buying. Plus the working 75%/50% are probably fearing of losing their jobs any minute. Buying a house is not high on the agenda when you can see your neighbours struggling to feed themselves. It would put me off.
Then there is location of these properties in relation to jobs. The people need to work and they will follow the jobs to those areas. There are many many more properties for sale today then a few years back that are not even considered by locals because of work.
A foreigner looking for a holiday or retirement home is a different matter.
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@Hybrid wrote:
I dont think that is fair.
Employment is at 25%. Young unemployment is at 50%. That is lots of people not buying. Plus the working 75%/50% are probably fearing of losing their jobs any minute. Buying a house is not high on the agenda when you can see your neighbours struggling to feed themselves. It would put me off.
Then there is location of these properties in relation to jobs. The people need to work and they will follow the jobs to those areas. There are many many more properties for sale today then a few years back that are not even considered by locals because of work.
A foreigner looking for a holiday or retirement home is a different matter.
Yes, I think sentiment comes into it, as well as stark economic facts.
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@Hybrid wrote:
I dont think that is fair.
Employment is at 25%. Young unemployment is at 50%. That is lots of people not buying. Plus the working 75%/50% are probably fearing of losing their jobs any minute. Buying a house is not high on the agenda when you can see your neighbours struggling to feed themselves. It would put me off.
Then there is location of these properties in relation to jobs. The people need to work and they will follow the jobs to those areas. There are many many more properties for sale today then a few years back that are not even considered by locals because of work.
A foreigner looking for a holiday or retirement home is a different matter.
Yes, I think sentiment comes into it, as well as stark economic facts.
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