Re: Re: Spanish property market in 2013

#117375

Anonymous
Participant

@katy wrote:

None of the articles “prove much”…the ones quoted on here a couple of years ago proves they were wrong! Prices on the coast could have bottomed now…quién sabe? It’s a different market. Many who aren’t desperate to sell have withdrawn rather than reduce much. I know a German couple who have done this. Sticking to the areas I know well the reductions haven’t been large and many still overpriced.

so I guess I must be one of those who you seem to think are plotting to talk up the market and dupe people into buying a home in Spain.

Mark, why would I think that 😆

Because you have a very suspicious mind, in the words of the King.

I’ve seen huge price reductions all over the place. Which is not to say there are not still plenty of unrealistic asking prices confusing the price signals – there are (this is Spain after all). But asking prices are not the market, just vendor fantasies. The market is where transactions happen, with prices in many good areas down 50pc to 70pc. Doest that mean they are now a giveaway price? Not necessarily. But I don’t think the good stuff in areas of diversified international demand will go much lower. Time will tell.

Another important point to bear in mind is there are lots of markets in Spain. It all depends what and where. National stats have some uses at a macro level, but they are almost meaningless to buyers and sellers.