Reply To: new BBC video about spanish property slump

#83214
Anonymous
Participant

@Peter Good wrote:

@kingy wrote:

so peter, you are saying that the slump is over and prices will rise by the end of this year?

Did I say that????

I can see the slump continuing worldwide for up to and possibly beyond 2012.

I would like to see a return to house prices in Spain being 50% less than their equivelent in the UK, as it was at the end of the 90s. That was a major factor for interest in Spain by UK buyers.

Also back then the exchange rate was around 1 GBP = €1.80 (though it was pesetas at the time). Those 2 factors alone coupled with the very cheap cost of living and climate contributed much to the boom.

Will those price comparisons and exchange rates ever return? I honestly think not. Perhaps that´s a good thing because I´m certain no-one here in Spain want´s another boom like the last one.

I also hope that, if there is another boom time in the future, that Spain has new regulations in place for developers, town halls, lawyers, notaries and agents.

I agree with your views Peter.