Spanish Property Insight › Forums › Spanish Property Forums › Spanish Real Estate Chatter › Press articles about the Spanish property situation › Re: Re: Press articles about the Spanish property situation
Exactly, too many people just don’t accept the real value the buyers put on a property here. In real terms there are flats here for 25,000 (3 bedroom older block) but one sold to a Spanish guy for 15,000 the other day. The 25k ones are still for sale and the banks refuse to lower their prices as they say that they are rock bottom. BUT, take a look at estate agents and you’ll still find flats for sale for 80k ??
What’s up with people, it’s not nice to know that you own a worthless pile of bricks which costs the same as a second hand car but we all have to deal with it. More sales would help us all. It was hard watching the Spanish news the other day when the President of Ecudador said that they are going to help his people who have problems here in Spain with their mortgages. He blatantly said that the banks overvalued properties. What a perfect time for Spain to turn around and ask how many ‘fincas’ have been built over there with the ‘excess cash’ that so many of these banks handed out for ‘furniture’. hey ho….haven’t heard Rajoy saying that there is any help for Spanish youngsters who are also trapped with a guarantor and overvalued property……
Well, 15,000 is not really a worthless pile of bricks… I am sure that 15K is a lot of money for many people.