Thank you for this and the previous post. Real data and sensible comment about this strange, opaque market are incredibly valuable. I have been monitoring the market in coastal Catalonia for two years with a view to purchase. I’m visiting again over the next couple of weeks to talk to one or two people I (relatively speaking!) trust about the lie of the land.
It is incredibly hard to work out what’s going on. Presumably attempted off-loading by “investors” in off-plan properties and other recent builds is distorting the resale figures? I’m not expecting to find a glut of cheap, quality villas in good locations has suddenly appeared.
It seems to me that trying to pick the bottom of the property market in any location is as futile as trying to pick the bottom the stock market – if you’re going to hold in the long term and are buying principally for personal use not capital gain, near the bottom will do well enough.
Do you have the facility to run polls here? I’d be interested to know how many second home purchasers with funds (cash or cash and borrowing combined) expect to reach for their cheque books in the next twelve months.