Re: Re: the great debate

#72837

mike
Participant

@Rawlins wrote:

I have just listened to the whole podcast. Excellent discussion and a ‘must hear’ for anyone interested in Spanish property.

Fascinating.

The positives
People like Spain
People will still make money in the long term (5 to 10 years)

The negatives
Reduced interest in Spanish property
It takes on average 3 years to sell a property
The market is corrupt
Excess supply
The wrong types of property have been built
Unsustainable communities
Statistics on prices uncertain because of black money

Great quotes (not verbatim)
“Correction, not a crash”
“The cycle is slowing a bit”
“50% of the economy relies on property so the government won’t allow a crash”
“Black payments reducing so actual prices may be going down already”
“Developers often under declare square metres”
“Estate agent commission is typically 5% and often 2% or 3%”

My favourite was the government not allowing a crash to happen. I suppose the government will have a big red button in the basement with a sign saying “push to stop housing crash”.

The discussion about developments with golf courses being attractive investments amused me.