spain - worse is yet to come - get out

[Miro1]

Hello Rowlandsbb & Jonwell,
Its interesting how everyone takes a speculative view of property. It didn't use to be like this.
If you want to buy a house in a place with a good climate, good communications, low cost tradesmen and plentiful well priced restaurants then Spain has a lot to offer.
All that the crisis does is offer you all this at a 30% lower entry price! What's the problem?
Thank you for your useful contributions.

 

[alicanteluxuryhomes]

I agree , it´s normally best to rent first than to buy. However, not so sure Australia is a wise option to emigrate to ... Floods, global warming, I feel it´s only going to get worse down there unfortunately.

 

[InmoLaSirena]

Spanish living areas

Hello Rowlandsbb & Jonwell,
Its interesting how everyone takes a speculative view of property. It didn't use to be like this.
If you want to buy a house in a place with a good climate, good communications, low cost tradesmen and plentiful well priced restaurants then Spain has a lot to offer.
All that the crisis does is offer you all this at a 30% lower entry price! What's the problem?
Thank you for your useful contributions.

I´m full agree with you Miro1. Now this crisis time is serving to adjust all services and pricing. The very problem is the high unemployment level if you need to get a job, otherwise your life cost is even cheaper.

In you are thinking to invest you can find real property bargains if you got cash. Who doubts about the quality of life in Spain? Whichever crisis to come, Spanish climate, life style, facilities and services do Spain one of the better areas to live in Europe

 

[DC]

An important point for pensioners who buy alot in spain is.
Pensions are index/inflation linked to people in EU, in some countries outside EU this is not the case.
Also the medical insurance.

 

[Occo]

wow this thread was spot on, but i predict we still haven't seen the worst till we see the austerity measures take place.

 

[whiteknight]

Wrong

I feel I have to comment on Jonwells thread on the market situation in Spain. No matter what happens to the Euro, the Eurozone, the banking crisis etc etc. You will always have a market for the europeans who wish to have a holiday home, weekend retreat or just a retirement base. The rock bottom ground price for coastal property has not collapsed or moved in a spiral downwards, the reason, there isnt anymore of it....It is a valuable commodity, check yourself, try and find beachside property for distress prices. I am only talking about the Costa del Sol and I am not talking about areas that are far off the beaten track, miles inland or in under developed areas with no infrastructure.
Take Marbella, an area that covers from Cabopino to the edge of Puerto Banus, so far this year the market is up by over 30% for sales and they are not all Bank repossessions, the area is vibrant, full of people, try finding a parking space and we are not even in the full tourist season yet. The restaurants are full and the bars and chiringuitos are packed.
The Costa del Sol is reliant on the tourist trade, it does have a very large employment problem now the property construction bubble has burst, many building trade workers are having to go abroad to find work. There is no heavy industry on the coast and most of the income generated is from tourism and the rest from agriculture, having said this, it is one of the reasons people come to this coast for holidays and to live. Let us look at the history of financial crisis, at the end of everything you still have the land, you still have people with the desire to live here, the climate, which all equates to the end result - Nothing changes in the big picture. I for one do not think that I am big or interesting enough to be bothered unduly by some so called expert reporting on something that if it doesnt spell bad news then it is not any good as news. Generally the British press only report Bad news for Spain, mass exodus, enforced repatriations, etc etc. Perhaps it is time some of the British Expats started bombarding the UK news companies with some good news, although I am sure it would not be printed.

 

[tradecarbon]

It has been a fun read of posts from 2009. September will be two years that I have moved to Spain. I was building websites at the time so could live anywhere in the world.

I have always loved Spain and choose Costa del sol over Mallorca. I can confirm that for an english speaker, there are lots of jobs available. In my short time here, I have seen property prices drop dramatically so now is a great time to rent/buy.

Those people thinking about leaving the UK for Spain, I say this...

My only regret is that I never moved a few years earlier.

 

[jonwell]

still time to run

Well guys I AM BACK after 4 years or so.

WAS i right in saying about spain.

since then i have found returns in better markets giving as much as 45% return i year.
medium risk as well.

i myself is staying away from most european properties as the worst is yet still to come.

spain will lose another 30-40% of its prices in some parts of the country.

Ireland is another that has yet to lose more than 55-60% of its value on residential and commercial properties.

uk market has another 30% to decline although this will take another 3 or 4 years while interest rates are kept false at 0.5%.

canada will see huge drops this year in there property market.

am glad to be back for how long even i don't know.

 

[Norbert]

Duh

Do you still support this Posting?

I feel I have to comment on Jonwells thread on the market situation in Spain. No matter what happens to the Euro, the Eurozone, the banking crisis etc etc. You will always have a market for the europeans who wish to have a holiday home, weekend retreat or just a retirement base.
The rock bottom ground price for coastal property has not collapsed or moved in a spiral downwards, the reason, there isnt anymore of it....
It is a valuable commodity, check yourself, try and find beachside property for distress prices.
I am only talking about the Costa del Sol and I am not talking about areas that are far off the beaten track, miles inland or in under developed areas with no infrastructure.
Take Marbella, an area that covers from Cabopino to the edge of Puerto Banus, so far this year the market is up by over 30% for sales and they are not all Bank repossessions, the area is vibrant, full of people, try finding a parking space and we are not even in the full tourist season yet. The restaurants are full and the bars and chiringuitos are packed.
The Costa del Sol is reliant on the tourist trade, it does have a very large employment problem now the property construction bubble has burst, many building trade workers are having to go abroad to find work. There is no heavy industry on the coast and most of the income generated is from tourism and the rest from agriculture, having said this, it is one of the reasons people come to this coast for holidays and to live. Let us look at the history of financial crisis, at the end of everything you still have the land, you still have people with the desire to live here, the climate, which all equates to the end result - Nothing changes in the big picture. I for one do not think that I am big or interesting enough to be bothered unduly by some so called expert reporting on something that if it doesn't spell bad news then it is not any good as news. Generally the British press only report Bad news for Spain, mass exodus, enforced repatriations, etc etc. Perhaps it is time some of the British Expats started bombarding the UK news companies with some good news, although I am sure it would not be printed.

 

[Norbert]

WHERE are those returns

Don't be a teaser and tell us where we get 45%.
And on what type of commodity?

Well guys I AM BACK after 4 years or so.
WAS i right in saying about spain.
since then i have found returns in better markets giving as much as 45% return i year. medium risk as well.
i myself is staying away from most european properties as the worst is yet still to come.
spain will lose another 30-40% of its prices in some parts of the country.
Ireland is another that has yet to lose more than 55-60% of its value on residential and commercial properties.
uk market has another 30% to decline although this will take another 3 or 4 years while interest rates are kept false at 0.5%.
canada will see huge drops this year in there property market.
am glad to be back for how long even i don't know.

 

[halley decosta]

Nice Post,I think foreign people choose Spain because of its simple standard of living and with high increase in development sector.Not every Britisher required to move out of Spain,there are several reasons behind this like some people came for job,to buy/rent property and want to settle in Spain who are in need.Its a good thing for the Spain authority that people from outside select their country for living because the property rates and living options are very cheap as compared to other countries.

 

[RainerR]

Dark Clouds Expected

Please define 'simple standard of living'.
And where did you read that Spain 'has a high increase in [the] development sector'?
Are you sure the increase wasn't in the 'austerity sector?
The situation is only getting worse in the years to come!

Nice Post,I think foreign people choose Spain because of its simple standard of living and with high increase in development sector.Not every Britisher required to move out of Spain,there are several reasons behind this like some people came for job,to buy/rent property and want to settle in Spain who are in need.Its a good thing for the Spain authority that people from outside select their country for living because the property rates and living options are very cheap as compared to other countries.

 

[DC]

Spain is still the best place to retire in Europe.
Climate
Low cost of living
Safety
Infrastructure
Health service.

Like all things if people happy here they stay if not they leave.

 

[RainerR]

Retire in Spain

But where?

Spain is still the best place to retire in Europe.
Climate
Low cost of living
Safety
Infrastructure
Health service.

Like all things if people happy here they stay if not they leave.