b) were also good at identifying when the very bottom of that particular dip had occurred.
(Edit) I thought I’d better mention that no, I’m not an “expert” either, just someone who has made some money with properties in the past.
OK, if you want to make money form property in Spain, then you need to wait at least 10-15 years to see today’s prices again.
About being patient, I guess nobody wants to lose money so the patience is a must, not a matter of choice.
The bottom is quite hard to identify, but there is alull period after the bottom when prices do not increase too much. Or wait till everybody (newspapers, friends, relatives, the shoe shining boy) says that it is extremely stupid to purchase in Spain and that is the bottom.