Reply To: Costa del Sol agents closing down



@pablo Silver or Lead? wrote:

Senor Nick

with all the data and opinion (both macro and micro) that is coming downstream at us, are you seriously predicting that prices on the Costas (UK influenced markets) will be higher “fantastic investment opportunities” in 3 to 5 years than today. The global credit crunch is just getting started and the fall out from it will change a generatrions attitude to debt assisted discretionary property purchase. On what do you base that prediction as many wise people I know are saying that these markets are going to go the same way as Florida in the US?

Obviously depends what price you buy at, its my opinion and if I could liquidate my assets Id be happy to put my money where my mouth was.

Investors who club together can probably buy at very low entry price and eventually the slack has to be taken up from somewhere, Andalucia is changing from a tourist economy to a business economy

We shall see what happens but I dont see buiders costs decreasing at the end of the day your property costs are made up of 3 things

Cost of land
Building Costs
Builders profit

For me that means an eventual increase of property prices in the medium to long term

Just my point of view