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I found out today that one of the largest estate agent groups in Catalonia is making around 6 sales a month, down from around 70/month not so long ago. This company focuses on the local market, so these figures can’t be blamed on those gutless pesky foreign buyers not doing their bit to support the market. This is a catastrophic drop. Needless to say, if this situation goes on for many months….. I’m told around 1,000 small have already closed in Catalonia. And prices around Barcelona are falling 5%- 10%. I always assumed that the market in this area would be much more resilient, but apparently not.
What’s going on in other areas? Anyone out there with a finger on the pulse like to share an opinion?
Mark
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Mark , I agree this is much worse news than I had been anticipating ,Catalonia has always appeared to be some what insulated from the madness
elsewhere in Spain clearly not any more , the area has long since been regarded as a power house province but this has not stopped the full effects of a property collapse from affecting the region .However I note that your Agent deals with the local market ,but how are Agents performing that concentrate on Foreign sales ? ,I suspect not much better , more Jelly Fish anyone?
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Is it all going down faster and more than was expected ? Not nice for people affected, but i sure hope the altea area goes down soon and big, so i can step in for a more reasonable price. Just to give you an idea how overinflated the prices are in Spain/Uk, have a look at the picture at the end of this post, it’s a detached house on 780sqm nice and new, in Germany where the post/electrics/gas/internet and so on actually work and the asking price ? Well it’s 249.000 euro’s. The road down in spain is only just starting.
Why only 249k Euro, well did i mention that apart from Wein Weib und Gesang, there is not much to do here.
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GlMike, kein schoner Haus in diesem Land denn??, Mike we went to one of those show home complex’s nr Fellbach and was astounded at the sheer range and quality of the Homes available, Bau Mein Haus for example could deliver erect and snag a stunning 3 bed detached home , including all the latest energy efficient facilities for 120000 euros complete .
Makes you Think !!
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Vera.Almeria, area a couple of estate agencies recently closed and business at an all time low apparently.
Have been told a certain developer in Albox (who have recently renamed themselves to something that is associated with butter) are attempting deals with agents to try an sell their properties
Spanish folk certainly not buying and word is since the TMcD programme neither are the Brits. Construction still going on though unfortunately. -
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in the last couple of weeks, at least 4 agencies around our office have closed.
For the CDS I think this is going to be an interesting time. Since so many agencies were opened because it seemed easy or a way to make a quick $, most of them will close.
Only the ones that are interested in the long term will stay open. (assuming they’re good enough to get the business) -
@Melosine wrote:
Vera.Almeria, area a couple of estate agencies recently closed and business at an all time low apparently.
Have been told a certain developer in Albox (who have recently renamed themselves to something that is associated with butter) are attempting deals with agents to try an sell their properties
Spanish folk certainly not buying and word is since the TMcD programme neither are the Brits. Construction still going on though unfortunately.Have they renamed themselves ‘Slippery’ ?
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Barcelona apartments on sale for over EUR 1M:
http://www.propertyinspain.net/news/2007/07/gaudi_barcelona_flats/
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