Spanish Property Insight › Forums › Spanish Property Forums › Real Estate Topics, News & Discussion › Spanish property market 2008: soft landing or train wreck? › Re: Re: Spanish property market 2008: soft landing or train wrec
The market actually fell a little lower than I had anticipated, and very slowly too. Even so, there is still plenty of “peak” priced property for sale. I feel that the reason the market fell further was because, not only did we have a bursting property bubble, we have also had to contend with the banking crisis & global recession.
Now, there are a few signs that the market has levelled off, but I cannot help thinking we are in for another significant fall. When you consider all those bank repos, unemployment in Spain, the tragic state of UK, and Euro economies, scarcity of mortgages, and finally affordability. It doesn’t look too good from my viewpoint. Who knows what the next four to six years in Spain will bring, but it’s looking pretty gloomy. At least the sun is still shining