Spanish Property Insight › Forums › Spanish Property Forums › Spanish Real Estate Chatter › Spain and UK seem to be competing for biggest fall in ’09 › Re: bricks and mortar
I think Spain will suffer more than the UK because it relies heavily on construction and tourism. With 1 million unsold properties in Spain, the current exchange rate makes investing in Spanish property and holidaying in Spain as well as general living costs etc too expensive, plus prohibitive Spanish property purchase costs and extortionate estate agent commissions in the price, and not forgetting the general build quality of flats and townhouses is much worse than even Wimpey Developments in the UK.
That said, property prices in both countries may well fall further over the next 2 years so too early to commit.
But just my opinion maybe 😉