spain - worse is yet to come - get out

[DC]

Spain has a certain place in EU for its services, climate, accessibility, its safety, its beaches, its experience in tourism for 30 years, its airports, its infrastructure. Spain may have had a dip in the residential market, but it will come back and hopefully better.

Where else are people going to go. North Africa, Egypt? sure sometimes, but Spain is the best retirement place in EU, or the most popular for Germans UK, Scandivians, Swiss , etc, why? because it is the best.

Yes it can improve like all places. Spain will be back. Buy now when the market is low.

 

[jonwell]

Don't buy the market has to fall a further 35-40% it has too, spain is getting weaker by the day, people are leaving spain in their thousands and this year as well as last year spain is no longer top holiday destination in fact some airlines have stopped flying their.

Spain has had it, the post above incourages you to buy, why because they sell property without you their nothing.

They make people in to idiots and burden them with loans and that's it youre on your own...screwed and waiting for the price to go up...

People will stop to retire in spain as the british law says if you retire in any country you pension will remain the same for the rest of the years, so if some one retired to spain on a pension of say 115.00 pounds per week they would remain on that for the rest of their pension years.

If you do want to buy for any reason then wait till 2012 or longer you will get what you want in price.
As the west gets poorer the east is getting rich but they not interested in buying in spain for what ever reason...

West can't afford the prices so prices will come down by 35-40%

don't buy

 

[rowlandsbb]

Wrong about the UK state pension!!!

If you retire to an EU Country like Spain then the Uk pension increases the same as it would do in UK, but outside the EU then it will not increase
Also certain benefits may also continue to be paid
You can check this with the Pension Service

And as for the rest of the post, then you are entitled to your own opinion and I suppose in due course we will all soon find out if you are right or wrong!!!

 

[Propertyzone]

I do not believe that the Spanish are unwelcoming of the British, my experience tells me otherwise. However there is a tendency of the British to move to Spain, refuse to learn the language, and not to bother trying to integrate into society. Those that have made the effort are rewarded. Those who don’t, well - imagine someone coming to the UK and refusing to learn English. They would not be tolerated . Here they are a bit more relaxed about it.

As for the market here in Spain - the country is going through a recession, and unemployment is high - mainly as tourism and construction are the major work sectors - Whilst there is some way to go before Spain pulls out of the recession it’s not necessarily all doom and gloom – life is a lot harder than it was during the property boom, and many businesses who were not prepared for the downturn have gone under. Spain will bounce back, and I do not expect to see blood on the streets and a dramatic pulling out of the Euro – I will look forward to reading your revelations over the coming days, however I for one will not be packing my bags and leaving the country I love.

As for property, there are bargains to be had here - Anyone that has been considering purchasing in Spain for some time will have seen prices fall and will now have the chance to pick up a property at a much reduced price. As for an overseas investment that will make tens or hundreds of thousands in the short term, Spain is not the answer. Not sure that anywhere is at present. However for a long term investment, and in the meantime having a wonderful place to have a holiday home, enjoy the sunshine and a Mediterranean lifestyle - why not!

There is nothing wrong with picking up a bargain - it may be that some have purchased at the height of the market and are stuck and desperate to get out. For a buyer, that creates a good environment to pick up a cheap property. For the seller it is unfortunate if they have not made money, or have lost out. Such is the nature of property investment - timing is key.

 

[rowlandsbb]

well said PropertyZone!!
It is not all doom and gloom and lots of good buys about...and ofcourse the life style benefits have not been affected by the recession...still a great placew to live

 

[Lysos]

Propertyzone writes:

"...imagine someone coming to the UK and refusing to learn English. They would not be tolerated." Wrong !. not only are they tolerated they are provided with interpreters & translation services; some councils now have to have documents printed in excess of 40 different languages, all at taxpayers expense, of course.

 

[Rotarise]

Damn i got a lot of info off of jons Handful of wriiting...i agrred with usa owing china trillions of dollars and maybe moving to australia..i heard its quite nice there...anyways...
Jacqui best of luck moving here to spain and if you ever want to rent a Piso(apartment) a couple meters from the beach and in a beautiful friendly town gimme a PM. I´ll show you!
Raf

 

[jacqui]

Thanks for the offer of help, but we are sorted with a rental house for the first couple of months.
Can`t wait now, soooo looking forward to the move, thanks for all the positive vibes.

 

[jonwell]

Damn i got a lot of info off of jons Handful of wriiting...i agrred with usa owing china trillions of dollars and maybe moving to australia..i heard its quite nice there...anyways...
Jacqui best of luck moving here to spain and if you ever want to rent a Piso(apartment) a couple meters from the beach and in a beautiful friendly town gimme a PM. I´ll show you!
Raf

hi i would not move to australia it does not offer any thing it's stuck in drought as well as the economy is underperforming. if you need me to tell you more on this i will just ask thank you.

 

[jonwell]

Thanks for the offer of help, but we are sorted with a rental house for the first couple of months.
Can`t wait now, soooo looking forward to the move, thanks for all the positive vibes.

well keep us posted but don't say i didn't tell u about spain when you look back in 2-3 years time.. i keep telling you all the world economy has changed the western economies can not be cost productive in many ways to compete.:creep:

 

[rowlandsbb]

Jonwell
I suppose every forum needs the doom guys but economic history does not support your views not does the fact that the western economies have an enormouse amount to contribute to the growth of the emerging economies and will get richer as a consequence
Economies can not be fully managed but the skills to do this are much advanced since the last big recession

The fact is that there is ahuge demand by people as they richer for a place in the sun and to those who live anywhere in Europe , West and East,Spain offers an attractive life style within easy reach
So when their own economies recover so will the demand for properties on the Costas
Also remember that ex pat buyers are a very small part of the Spanish Market and the Spanish all work for a holiday home
And if you think that the Spanish economy will not recover, then you are the only person who thinks so
Even as I write one of the richest families in Spain has bid £765m cash to take over National Express and other Spanish companies are investing heavily in other countries as well as UK
So whilst it is having problems just now Spain will recover like the rest of us and along with that so will the property market

Are we at the bottom, who knows , but it is starting to look like we are and the odds are in favour that buying now for life style reasons will turn out a good medium term deal

 

[Resale Centre]

Well, what a read, I'm supposed to be working!!!

At the start of the year we were all thinking what the hell was going to happen thisyear in terms of sales and actually being able to pay a wage, however - like all businesses whether it is an Estate Agency or a shop of some sort, we looked at our finances and looked at where we could cut back. Yes there were bad months but this year has not actually been as bad as we first thought.

People ARE still coming and buying property in their hundreds, maybe not the thousands like they were before but Spain is definitely not finished and it never will be.

The comments that I have read in my opinion are not in any way affecting me and probably not many other Brits or expats that have come to move to Spain. Many of us are in stable jobs, have some or most of the family living here with us in Spain and there is nothing for us to go back to in the UK.

IMO Spain's property market in the Costa Blanca south region is picking up if anything, now is definitely the time to buy, there have been many many clients of ours that have all said that they have been waiting for the market to bottom out but have now seen the time is better to get in there now and buy rather than keep waiting and miss out on the opportunity of getting an absolute bargain just because they THOUGHT that is was going to get worse!

There is nothing worse than missing the boat, eh!

Australia is the other side of the world, too hard for many to visit families and friends - yet Spain is more or less the same in terms of culture and belief's - and only a 2 hour flight away from some of our loved ones. But yes, I have heard nothing bad about Australia - only good things.

Things will get better, property prices in Spain will NOT drop another 25 / 30% because they have dropped too much already. If they do then I will be buying more properties! But it is near on impossible in some places. You can buy a 2 bedroom apartment in Torrevieja now for 70K, 2/3 years ago you would have been lucky to buy one under 100K. It WILL NOT go any further than that unless the banks have to off load more in desperation to balance the books.

Keep moving to Spain guys, the best country by far in the EU!

 

[rowlandsbb]

Tend to agree with most of what you say and that buying this autunm and winter will retrospectively look a great deal
But recovery is I think not going to start until mid 2010 when the Spanish economy is predicted to start moving again

 

[solbuilders]

recession

hi ofcourse there is a recession in spain but half the world is broke.Jaquie get yourself to spain with the family and if it doosnt work out then at least you will know .Came here with my wife and two kids 5 years agoand never looked back.Quite hopeless at the lingo but the kids flent helps me and the wife out.Think carefully about where you want to stay there is some beautifull areas about the costa blanca some not so nice but we all have our own opinions.Since the start of the year i hvent been busier my wife hasent been busier in her cleaning company yes not the best job but we came to spain witht the view that it will happen if you want.Where i stay i think its getting better my friend owns a vry succesfull estate agents selling 2 or 3 per dayWhy go back to britain is it because of the benefits you get.Of course its different in spain but they do accept the brits as half my friends are spanisha dnt hey love the kids.I guarantee at night youll feel much safer.Anyway again if you want it to happen then i think it will but best of luck and keep us posted on how you go.Ah forgot to sya everyone hello this is my first post and hopefully ill be welcomed on here.

 

[Fernandovich]

I do not agree

It's right now the best moment to buy in Spain. Of course you must take care what you are buying, but anyway it's the best moment to find a bargain.

 

[rowlandsbb]

anyone thinking of buying should have a look at the CAM Bank properties, even dealers, and on these properties CAM Bank will give loan to value 80% mortgages

 

[jonwell]

I AM BACK GUYS AND GUESS WHAT IF YOU BOUGHT IN SPAIN YOU WOULD HAVE LOST 15% and unemployment is going up.

 

[rowlandsbb]

If your are buying for life style you would have lost nothing

Most buyers of properties in Spain are buying for life style-full time /half time living or holiday home

for example a 2 bed holiday home in Spain is still very much cheaper than one in UK.....some caravans are more expensive!

When property prices increase as the history of property economics tell us they will, then that is a bonus
Buying now is buying at or near the bottom of a market cycle...that is a general opinion not mine
But it is the life style decision which is important

Now for dealers and investors I have circa 4000 plus CAM Bank repossesions at 30% discount asking prices and LTV 80% mortgages
All the Costas and Islands starting from a 1 bed in Palma asking 37.000 €

Any serious [ not just a poster] who wants a serious look at CAM Bank portfolio give me a ring!

 

[Lysos]

So, Brian, you alone have 4,000 repossessions to offer. says it all. Add that to the totally expected (by most sensible analysts) news from Dubai & even the naive must be beginning to realise that the world has changed - permanently.

 

[rowlandsbb]

The world has changed permanently has been said many times in history !
yet the world moves forward!
Dubai will be bailed out as the middles east can not allow it to fail
My experience of recession goes back to the 70's with 25%+ inflation and 3 day working weeks and then they said we would never recover
But we did and so it will happen again not just in UK but in EU and that includes Spain
after each cycle the economy grows and with it property values

The holiday and retirement sector of the property market in Spain has major advantages over other parts of the Med
Best sun all year round on the maninland and easy to get to!

And the Spanish have always been owners rather than renters and aspire to own a holiday home on the Costas

Just my view of course but supported by economic history

and just now if you are a life style buyers there are some very good deals and now again the Bank re sales provide opportunity for dealers/investors