What’s really happening on the Spanish property scene? It´s time for a review
Thursday, November 4, 2010 @ 1:41 AM
Well, it looks like the Spanish property market has been forgotten after the looters took away the treasure during the property boom and the economy fell in depression. It’s the right impression and we do not blame you if this is your viewpoint.
But the reality is that the market is alive, the rental sector is a strong option and investors have a tough task to find good properties in a market with plenty of underperforming properties.
To approach the current Spanish property market it is necessary to understand 3 key points and to put them together:
1) The nature of its huge property stock
2) Given the high unemployment rate (20% – more than 4 million unemployed) and the deep credit shortage there is a relevant lack of purchasing power and also many repossessions.
3) The unwanted role of Banks as estate agents.
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