Re: Re: Booming local markets in a national bust

#115231

Chopera
Participant

@dbmarcos99 wrote:

would you move to East Croydon just because you worked there?

I would have had no problem living in Croydon – it’s not all New Addington, there are decent areas too and you can buy a property with garden for a very decent price, half that you’d pay in many other London boroughs. It’s only 15 minutes to the centre of London by train, and if you do need a posher address you can always move to Coulsden or Wimbledon next door.
Point about Alcorcon is they are going to need a lot of rental space, initially for the construction workers, but later for the couriers/bar-staff/security people etc. It’s not so much that families are going to be buying places there (more likely they’ll be wanting to move out) but the buy-to-let people will be interested both there and in surrounding areas like Mostoles.

I wasn’t knocking East Croydon, it was the best analogy I could think of. There are decent areas in Alcorcon as well – it’s actually got quite a lot of open spaces and parks. During the boom I knew a few people who moved out there because it was perfectly ok to live there, and you got more house for your money. It’s just that the public transport is so good (line 10 will take you directly to Sol in maybe half an hour) that you really don’t need to live there in order to work there. Of course there will probably be some knock on effect from Euro Vegas, and indeed other attractions may well spring up in the surrounding areas if it takes off. But it may well not equate to an increase in house prices. You also have to remember the way the minds work in Spanish councils – they will see it as an opportunity to build lots of flats and there’s a good chance they will create an over supply. Nothing is guaranteed.