‘When the market bottoms out’ is often said, however there is no written law with property that it will always be a good investment, will the market just float along somewhere middling rather than ‘bottom’ or ‘top’?
Too many Brits/Irish etc had their fingers burnt in Spain and other so called ‘hot markets’, it’s doubtful whether the Brits will ever pile in again, lack of funds, remortgaging problems, exchange rate problems, plus again the extortionate buying costs. I’d be very surprised to see a real uplift in Spanish property until the 1,2, or 3 million unsold properties get sold off first. 🙄
If I wanted to buy again in Spain, it would not be as an investment, it would have to be because I’d prefer to live there, but then Italy or the South of France would be far nicer, more genteel, and less developed on their coasts, but that’s just my opinion and that of many canny Brits already there and cushioned more against huge falls in prices. 😉
I agree with what you say. The brits may never return in masses to buy properties in spain. I think this is the reason why spain is encouraging other europeans and further afield. The world is a big place, I don’t think Spain is relying on brits alone to help boost their economy. British buyers are a very small percentage on the scale of things. I don’t argue it would help Spain if Brits start buying again, but it is not the british who will make or break spain.