Reply To: Spanish property market 2008: soft landing or train wreck?

Spanish Property Insight Forums Spanish Property Forums Spanish Real Estate Chatter Spanish property market 2008: soft landing or train wreck? Reply To: Spanish property market 2008: soft landing or train wreck?

#77316
Anonymous
Participant

I must admit that reading these posts I sometimes wonder if I own property in the same country!

I have a property in Almerimar and the description of unwanted and undesirable properties is certainly not the case. The local council have taken great care in planning the development of the resort and with the exception of one development all complexes are, in my opinion well designed. I am sure there are many other resorts that are similar and the description of poorly designed complexes is I would suggest the minority rather than the majority.

I would estimate that the vast majority of the apartments in my complex are second holiday homes with very few rented out. That also applies to my apartment. Ownership is almost exclusively Spanish.

Now I accept that there any many properties that have been bought for investment, but also many have been bought as second homes, with no intention of renting or selling on.

How this affect the market, I have no idea, but I thought it was worth posting an alternative view to most of the negative comments about the standard of recent development and why properties may have been purchased.