Poor old Ubeda pops back again when his mate posts, hey Ubeda do you still not like living next to Spaniards?Lol
Fact is it is Spain that suffered a ‘slump’ in property prices not the UK, Def Slump: ‘A sudden severe or prolonged fall in the price or value’ which Spain suffered for last 6-7 years. London prices rose so much in 1 year 26% which was fastest rate on record and ridiculous, UK rose 10.2% in last year, both need to cool down as it is unsustainable and was a deliberate plan of Osborne and Carney to boost asset prices before the next election.
Ubeda, btw, we know someone with an unpretentious 2 bed flat in Shepherds Bush value at £390k just 19 months ago this year being sold for £600k, these rises are life changing amounts of money for people, they are now buying large detached in the country. Compare this with Spain’s property market, where was the sensible money invested? We’ve just exchanged contracts on sale of UK home after bought 3 years ago, good timing we think, won’t tell you the increase though, you might cry or spill your drink.
Fact is Spanish property is ok for change of lifestyle or holiday home, but it will be a poor investment for years to come, you know Spanish property has to rise 20% just to break even on transaction costs and this fact is not conveyed by most agents who rely on gullibility.
Spot-on analysis Chopera!
- This reply was modified 7 years, 2 months ago by angie.