Re: Re: Let’s hear you guestimates, the Spanish property market.

Fuengi (Andrew)

@logan wrote:

@Fuengi wrote:

Logan are you still looking at properties in Almeria/murcia? hows that going?

I have visited many developments over the winter. Talked to a lot of bankers. (I don’t any longer deal with agents) but as my last post indicates I will not enter this market until I see some meaningful change.
I invest in multiples and am waiting now until the Murcia golf resort repos drop about 30% from current bank selling rates. Even then I will need some convincing I can sell on with profit within 2 years. That is because costs and taxes need to be factured into the bottom line. In any case there’s no demand. Right now that’s impossible. Most investors are staying away for the same reasons. The market is moribund.

so realistically for that area, you’ll probably be looking in 2 years or so again?