Reply To: Spanish property market 2007/2008 report discussion



It is reported that British buyers are 90% down in recent months. if you apply this 90% to the total 22600 buyers in 2006, it comes out about 2000 to 3000 British buyers in 2007.

How did you come out with the estimate 10,000 to 15,000 in 2007?

Also , considering that many Brits are unhappy about their pucrhases, I expect that many of them will want to come back to UK (where house prices will also reduce in the near future) or go to other countries.

This will lead to more Brits moving out of Spain than the ones going to Spain.

But how could 5000 buyers influence the Spanish market where 3 million apartments are for sale??

Expect the Spanish market to be dominated by ghost towns in 5 years from now. Of course places like Marbella or Palma De Majorca will hold their value, but many new places will be a squatter paradise soon.