Latest house price news from Spain

Post reply   Start new thread
:: New - Old :: Old - New

Pages: 1 | 2 | 3 | 4 | 5 | ... | Next |

Forum home :: Latest threads :: Search forums
The Comments
14 Dec 2012 9:48 PM by moncapitan Star rating in South by South West. 117 posts Send private message

 Spanish house prices -3.8% Q/Q, -3.3% last, down 15.2% Y/Y

 



_______________________

Let's get deeply into debt. 




Like 0      
17 Dec 2012 11:06 AM by mac75 Star rating in Valencia. 415 posts Send private message

mac75´s avatar

 Not at all surprising and they will continue to fall while the demand stays as low as it is. 



_______________________

A donde el corazón se inclina, el pie camina.




Like 0      
17 Dec 2012 1:56 PM by Harry07 Star rating. 205 posts Send private message

Interesting data & no surprise at all with 25% unemployed etc.

However would be interested to hear if certain parts of Spain continue to defy the general downtrend eg Georgia recently explained that prices in his region had started to escalate.

Harry





Like 0      
17 Dec 2012 1:58 PM by moncapitan Star rating in South by South West. 117 posts Send private message

 It will be good if the banks would release their inventory on to the market so that it could find a floor...  but that would be asking too much from the politicans!  better to spend money destroying houses than let the free market work.



_______________________

Let's get deeply into debt. 




Like 0      
17 Dec 2012 2:12 PM by Roly2 Star rating in Almeria. 646 posts Send private message

 I am sure Georgia will speak for himself, but I don't remember him claiming they were escalating.   I think modest increases from a very, very low base was the basis of the discussion.  Or does memory fail me?





Like 0      
17 Dec 2012 2:17 PM by moncapitan Star rating in South by South West. 117 posts Send private message

 The lenders (mainly Caja's) who were involved in sub-prime lending have 180 billion euros of bad real estate assets - i cannot see any meaningful rise taking place until this is liquidated.

But i look forward to read the latest news from Georgia if there is any sign of life somewhere in Spain.



_______________________

Let's get deeply into debt. 




Like 0      
17 Dec 2012 2:38 PM by mac75 Star rating in Valencia. 415 posts Send private message

mac75´s avatar

 So would I, I can't think of any place in Spain that is on the rise at the moment apart from the queue at INEM.

Would be very interested to know where property prices are rising....



_______________________

A donde el corazón se inclina, el pie camina.




Like 0      
17 Dec 2012 3:08 PM by Mungry Star rating. 329 posts Send private message

i read somewhere yesterday that if spain is going to follow usa and uk like it normally does we could see another 30% drop of house prices before it starts to level out.



_______________________

i coldnt stay away from you miserable whining whingers for some reason




Like 0      
17 Dec 2012 3:14 PM by eggcup Star rating. 567 posts Send private message

Although average prices may drop and drop forever, on an individual level, if someone has a fantastic property to sell and isn't desperate, they won't drop their price by 15% just because that is the average across the board.  Maybe the reduction in the value/asking price for 'undesirable' properties is distorting the picture?  This has always been the case in the property market - generalising across Spain and across all property prices doesn't give a detailed picture of the property market.



_______________________

My account of moving to Spain.  http://www.eyeonspain.com/blogs/olives.aspx"><img

 




Like 0      
17 Dec 2012 3:23 PM by Mungry Star rating. 329 posts Send private message

that makes a lot of sense actually

thanks for explaining it like that



_______________________

i coldnt stay away from you miserable whining whingers for some reason




Like 0      
17 Dec 2012 3:33 PM by moncapitan Star rating in South by South West. 117 posts Send private message

Agreed Eggcup -  but the banks are only giving mortgages for properties that are held by them - so a sale is unlikely unless they are cash buyers - and who will bid up prices in this market?

Mortgage defaults for March-June 2012 was 19.1 Billion Euro.

350,000 court orders for eviction following foreclosures since Jan. 1, 2008

 

The way i see it - the Spanish mortgage market will remain paralysed until the banks sort out their balance sheets - and that means lots more nationalisation of spanish banks to join the likes of Bankia, Nova Caixa Galicia, Catalunya Caixa, and Banco de Valencia.

 

Get your cash out of these banks as they are insolvent.



_______________________

Let's get deeply into debt. 




Like 0      
17 Dec 2012 9:03 PM by Poppyseed Star rating. 897 posts Send private message

Quite a few properties have been sold on our urbanization recently, the French are taking the lead apparantly.



_______________________

Poppyseed




Like 0      
17 Dec 2012 11:37 PM by eggcup Star rating. 567 posts Send private message

Interesting point, Poppyseed.  Many French love Spain and stacks of them come on holiday to Spain in August especially.  We always talk about Brits in Spain (for that is what we are) but it would be interesting to know the statistics on French buying and renting for holidays in Spain.  When we sold a cortijo a few years ago it was to a Dutch person... I don't think there are so many of them around in Spain - they like France! The grass is always greener.



_______________________

My account of moving to Spain.  http://www.eyeonspain.com/blogs/olives.aspx"><img

 




Like 0      
18 Dec 2012 8:17 AM by Harry07 Star rating. 205 posts Send private message

"But i look forward to read the latest news from Georgia if there is any sign of life somewhere in Spain"

He recently outlined an example where prices had increased about 9%  in one of his complexes in Algorfa - albeit from a low base  (55,000 to 59,990 if I recall).  Therefore, perhaps that area is bucking the general downward trend.

Harry





Like 0      
18 Dec 2012 9:18 AM by Roly2 Star rating in Almeria. 646 posts Send private message

Harry, I think the point was more that people will buy if the price is low enough.   It is not an upward trend - maybe just a bit of competition among very low priced properties.         Though he did rather pointedly say that I live in the back of beyond in Almeria and house prices will be the last to go up.   Luckily I love living in the back of beyond, and I am all for knocking down the rubbish here. 





Like 0      
18 Dec 2012 9:23 AM by moncapitan Star rating in South by South West. 117 posts Send private message

 Harry, thanks for clarifying,

 

A quick scan of properties on kyero.com for Algorfa shows many properties in this price range ..

was 60,000 now 40,000

Bank owned...  40.000

Bank repossession.. 40.000

 

I expect if there is a particularly nice property it may buck the trend, but i think there is no active "market" in Algorfa so to speak.

 

 



_______________________

Let's get deeply into debt. 




Like 0      
18 Dec 2012 9:43 AM by georgia Star rating in Algorfa (As seen on .... 1835 posts Send private message

Vip Supporter

georgia´s avatar

 i am just recovering from 3 sweeks in florida and thought i would pop in to see if anything exciting had happened.....

i cant really be bothered to comment due to jet lag at the moment but its interesting to read the expert comments.

I am a bit dissapointed to hear that there is no active market in Algorfa as i have my office there and i was looking forward to going back to the states next year...maybe i will have to rethink that one?!

 



_______________________
www.taylorlandandpropertygroup.co.uk still here after all these years!



Like 0      
18 Dec 2012 10:58 AM by Harry07 Star rating. 205 posts Send private message

Hi Moncapitan,

Agree that individual sales may occasionally buck the trend - sometimes due to buyers perhaps not being properly informed. I think we may also concur this does not imply the market is stabilising/rising in Algorfa against the general down trend in the rest of Spain !!! Always important to be objective presenting data & discard any self interest.

Roly - great to hear you are enjoying the good life in "back of beyond".

Cheers,

Harry





Like 0      
18 Dec 2012 11:09 AM by moncapitan Star rating in South by South West. 117 posts Send private message

I would say the only market for buyers is those that are wishing to retire in Spain - the market for 2nd holiday homes or investments has imploded.

and the desire to buy instead of rent is not so attractive when you consider the monthly service charges and future tax increases.

if anybody has any positive data to balance this or news from the coal face, please post.



_______________________

Let's get deeply into debt. 




Like 0      
18 Dec 2012 11:18 AM by georgia Star rating in Algorfa (As seen on .... 1835 posts Send private message

Vip Supporter

georgia´s avatar

 market for 2nd homes in my office is approximately 70% of all sales.

4 sales whilst i was in Florida and 2 final clients this week before we close for 2 weeks.....overall summary for this year is that pleasantly suprised and i would settle for next year to be the same.

Met with a builder yesterday who is starting a new development that i want to sell after they sold out completely this year,somebody must be buying and they are not cheap.

Source; Coal Face.

Harry,

Why do you constantly ask for my input and then tell people to be wary of self interest?boredom maybe??



_______________________
www.taylorlandandpropertygroup.co.uk still here after all these years!



Like 0      

Pages: 1 | 2 | 3 | 4 | 5 | ... | Next |

Post reply    Start new thread


Previous Threads

Property Nightmare resolved! - 4 posts
Should the "bad bank" demolish or finish the properties? - 12 posts
Merry Xmas - 0 posts
Name and Shame list for tax cheats - 6 posts
Nie or passport numbers needed when buying goods. - 7 posts
Looking for printers of calendars and promotional products in Murica/Alicante region - 2 posts
home page on my laptop - 2 posts
Astra 1N, 2F & 2E satellite change over information & reception maps UK TV Spain - 0 posts
Nox-Bellcow successfully developed a new kind of tencel spunlace - 0 posts
210 on-line return no charge - 20 posts
The Three Wise Men were from Spain! - 9 posts
Anyone know of a Chimney Sweep in The Sotogrande area? - 4 posts
Really Good Value Christmas Day Meal - 0 posts
Coming to Formentera Del Segura and question please! - 2 posts
Non-Resident Tax, what you need to know - 0 posts
Need help - 2 posts
proof of income for nie number - 3 posts
Spanish language help - 2 posts
Sabinillas area air conditioning service - 2 posts
Mugged by Spanish Taxman? Any Advice - 1 posts
My first post - 6 posts
New Condado Buyer from CAM but not had mortgage offer after 6 weeks?? - 1 posts
Best Bank for ExPats. - 7 posts
Louise Clark - 5 posts
Graphic Designers or Gifted Amateurs - 0 posts

Number of posts in this thread: 158

DISCLAIMER:  All opinions posted on these message boards are the opinion solely of the poster and do not necessarily reflect the opinion of Eye on Spain, its servants or agents.


1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 |
Our Weekly Email Digest
Name:
Email:


This site uses cookies. By continuing to browse you are agreeing to our use of cookies. More information here. x