…Keeping an eye on Fotocasa and having one of those moments of clarity.
An Spanish ex-colleague of mine returned to Spain early this year after working in the UK. Fluent in English, MSc in science related subject and working as a professional software engineer for a blue chip company earning £40k ish. He’s 30.
He’s now working in the same field back in the South of Spain earning just under 35k Euros.
Reasonable 3 bed (holiday) apartments in Almeria are 250k~300k. This is almost 10 times his salary.
1) He’s probably in the top 5% of the population in the educational stakes
2) Southern Spain is the least sophisticated part of Spain, hence low salaries for the unskilled, semi-skilled.
3) Massive over supply of property.
4) Foreign property investment well and truly dead.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.