Spanish propety market crash....hmmmmm
It's been difficult to miss all the bad press this week about Spanish developers and real estate companies losing value on the stock markets. This has led to people predicting a house price crash in the Spanish property market.
How we got anything to panic about yet?? In my opinion, bad press makes good press and that's always what's going to make the headlines. Panice then? I don't think so, unless you have shares in one of those real estate companies!
We've been inundated this week with emails from concerned property buyers and owners wondering if they are about to lose thousands of Euros on their properties.
In my opinion (for what it's worth) all we are seeing is an acceptance that the market has changed and all the thousands of properties bought by speculative investors over the past few years sit empty and earning no money. We've all known that this was what was happening and it's time for people to be more realistic regarding the true value of their properties. This will hopefully bring back some much needed stability to the market.
At the end of the day this is Spain and it's still thousands of people's dreams to have a house here or move here. That will always be the case but people will just be a lot more careful and fussy when buying a propety here.
Anyway, I'm going to wrtie more about this for our newsletter next week.
n the meantime...DON'T PANIC!!
How we got anything to panic about yet?? In my opinion, bad press makes good press and that's always what's going to make the headlines. Panice then? I don't think so, unless you have shares in one of those real estate companies!
We've been inundated this week with emails from concerned property buyers and owners wondering if they are about to lose thousands of Euros on their properties.
In my opinion (for what it's worth) all we are seeing is an acceptance that the market has changed and all the thousands of properties bought by speculative investors over the past few years sit empty and earning no money. We've all known that this was what was happening and it's time for people to be more realistic regarding the true value of their properties. This will hopefully bring back some much needed stability to the market.
At the end of the day this is Spain and it's still thousands of people's dreams to have a house here or move here. That will always be the case but people will just be a lot more careful and fussy when buying a propety here.
Anyway, I'm going to wrtie more about this for our newsletter next week.
n the meantime...DON'T PANIC!!
Labels: Spanish property
posted by Eye on Spain at 4:35 PM
1 Comments:
No. Don´t panic!
Chose a good local agent, well established, who knows the area and the properties they are offering.
The people you talk to at the big coastal agents have never seen what they are selling, particularly if you are buying inland Most of their staff have never been inland and have scant knowledge of the areas.
There are good properties at good prices. Take your time, compare and check it out.
Spain is politically sound and is till a great place to live!
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