Thanks Peter. Interesting article. I agree with Mcarthy that the beginning of the end started around 2004 (maybe a bit before). Only the Agents continued talking up the market but privately here most of us could see what was happening.
The cause of the Spanish Property Market’s death had absolutely nothing to do with the credit crunch. They killed it themselves.
Anyway, this crisis is an opportunity for the ones who wanted a good house but with a low budget.
This year I have taken the opportunity to buy my own flat in my born city Lorca (Murcia). A 4 bed room in a 12-storie-flat, all exterior, 110 m2 of space, good quality of materials, swimming pool, great views in all rooms for about 160.000 euros VAT included.
So despite the bad news I recommend anyone who wants a spanish property to look carefully, avoid the typical british developments, the offplans and surely you will find a great deal.
Peter, I am happy for you that you bought a property that you liked & for the price. It is quite obvious that you did a lot of research & followed the market. If only the British buyers did the same. Buena Suerte.
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