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The other day I took part in a debate on the state of the Spanish property market. It was hosted by Nubricks.com, with Martin Dell from Kyero.com and Wynn Williamson from Aguirre Newman.
If you are interested you can listen to it here:
http://www.nubricks.com/archives/351/spanish-property-podcast-2/
Mark
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@Rawlins wrote:
I have just listened to the whole podcast. Excellent discussion and a ‘must hear’ for anyone interested in Spanish property.
Fascinating.
The positives
People like Spain
People will still make money in the long term (5 to 10 years)The negatives
Reduced interest in Spanish property
It takes on average 3 years to sell a property
The market is corrupt
Excess supply
The wrong types of property have been built
Unsustainable communities
Statistics on prices uncertain because of black moneyGreat quotes (not verbatim)
“Correction, not a crash”
“The cycle is slowing a bit”
“50% of the economy relies on property so the government won’t allow a crash”
“Black payments reducing so actual prices may be going down already”
“Developers often under declare square metres”
“Estate agent commission is typically 5% and often 2% or 3%”My favourite was the government not allowing a crash to happen. I suppose the government will have a big red button in the basement with a sign saying “push to stop housing crash”.
The discussion about developments with golf courses being attractive investments amused me.
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@bettyboo wrote:
what a pity that the Spanish goverment have not got a big red button that they can push…..
and all the corrupt developers,officials, estate agents,solicitors,politicians,Judges..
will all fall into a black hole….. or am I being too harsh???Hi Betty. I think that is the crux of the matter. The UK is a great place to do business because you can have faith in the system. I know Spain will get there but maybe in some areas it has still to fully develop.
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Suzanne , Mark contributed several articles to a Sunday Times supplement this week,regarding the Costa Azahar region ,all very absorbing stuff ,however one article did provide a link to two UK based solicitors ,one of which Irwin Mitchell are dealing with several cases In the Almeria provence in respect of illegal build,both practices listed have Spanish offices and may be of use to people thinking of buying in Spain ,to contact in the first instance.
Both firms have very informative web sites which are listed as follows ;
http://www.irwinmitchell.com, and Davies Arnold Cooper at http://www.dac.co.uk ,might be worth a look. By way of a diversion I came across a truly superb web site devoted to Spanish wild life titled iberiannature, extremely well detailed and readable ,and provides a fascinating insight into the quite exotic wildlife that is a bit closer than you think !!.
Appreciate however, that for some at the moment , they have probably had more than enough exposure to to exotic wildlife.
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slight problem with link in previous message (inclusion of comma in address)
http://www.irwinmitchell.com
or (marbella office page)
http://www.irwinmitchell.com/Contact/Marbella-Solicitors-Spain.htm🙂
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Thank Gary & Nick,
Have dropped a line to Irwin Mitchell today & it will be interesting to hear some views from them.
Found the site on Iberian Wildlife Gary –
Another nice one to look at=
http://www.discoveringdonana.com
Hope to go there one day – looks very beautiful
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