Latest house price news from Spain

I am reading these comments with some amusement.  We have an estate agent (with a vested interest) applauding his/her sales.  The facts remain simple, until the banks sort out their balance sheets Spain is a non starter for investing in property.  Any market has what is known as mug punters.   Spain has a way to fall yet as we all know.  Spain hopefully will pull out of europe, devalue and get back to where it once was.  It is a large productive country and can survive nicely without the EU.  For my sins I was many moons ago an estate agent, and we would never let anyone know when sales were down, and the same ploy still applies, even more so now.  Read MetGB's BBC news for an interesting if not, depressing read.

"We have an estate agent (with a vested interest) applauding his/her sales."

Small point Foxilady - says he is a man (despite female name) !

Cheers,

Harry

As I am often confused I did say his/her so as not to offend.

 regarding Foxilady comment about banks sorting out their balance sheets - this just in via ZeroHedge

Fitch says Spanish sovereign bailout (i.e., final admission of sovereign insolvency) would be roughly credit neutral. Who needs comedians

 it is actually the birthplace of my late grandfather as in "leaving on a midnight train to.......which was explained over 1800 posts ago....it is very simple people you just click on the profile and it tells you....

for the last time....i have offered to back up any of my statements on here with hard documented fact, i have said to you a dozen times Harry,if you want to bet me 1,000€ i will post my annual sales report on here with full details,you deliberately ducked the challenge and continue to do so....obviously not got the balls for it???

I will gladly donate my winnings to the local orphanage and domestic violence unit.

So instead of going into your Rafa Benitez Fact fact fact rant at 2am in the morning maybe you should "man up" and take the challenge?? although as you have not filled in your profile (obviously something to hide) then i could be chatting with Harriet???

To be quite honest you can believe me or not....i dont care,i have nothing to gain or lose by it...the only people who could gain are some unfortunates that need it.

so if any of the keyboard warriors want to accept my challenge i would be delighted...a thousand each??

I rather think the copy and paste mob will continue although it is quite nice to see the odd post of sanity amongst the drivel.

and i didnt say that Algorfa was bucking the trend i was just stating facts from a current sale...you know Harry...thats the real world.

N.B. I dont do hissy fits not when i am pmsl!

 Georgia, out of interest, how are you surviving as a business with turnover of €3-5M in sales at a usual commission rate of 1.5% implies revenue of €45K-75K?

I do not work in the real estate industry, but i presume you must have other ways to generate revenue?

Roflmfao!  i am really confused now, as men (except my gay friends) rarely have hissy fits or pee themselves laughing.    Come on someone, grow some bollox and  take on the challenge, I have already made my donation to Cancer UK - my one and only charity I donate to.

 It's a struggle but i get by....i busk at La Zenia boulevard at the weekend to make ends meet.

Might be a good idea to save those shekels for the fines which may be imposed as street music is illegal in Spain!

Georgia, can you give us more information regarding the urbanisation in Algorfa you mentioned that was being bid up?

or the new apartment complex that has been sold out you mentioned previously, or does one have to pay €1K for this?

 Moncapitan,

I have 1862 posts on here spanning over 6 years,i am sure the info is in there somewhere,if not get back to me.

Cant chat too long i have to practice "smoke on the water" for my saturday lunchtime spot,i dont need a licence btw as the local mayor accompanies me on the triangle! he sorts that stuff out.

"To Buy.....absolutely

To sell....Absolutely not (unless circumstances dictate)"

Someone's first post to me on Forum (Sept '12) when I sought views on market trends & if it might be time to buy.

How does this bullish advice align with latest (surprising !!!) admission that not even Algorfa is bucking the market downward trend ? Does this very bullish recommendation still hold & if so why would anyone buy into an obvious falling market when they can competitively rent in the meantime ??

Fingers crossed we may receive a reasoned professional response.

From the News.    ed 19th Dec 2012

I expect some will tell us not to worry,    the (their) market is bouyant !!!

 I am eagerly awaiting this response Harry.

Renting is just too cheap at the moment to consider buying IMO.  Why tie your money up in Spanish real estate when you can purchase real estate in more liquid markets.

With VAT @10% coming in it is only likely to destroy any future activity.

I ran through the numbers provided by Georgia and i cannot see how his office can be profitable with such a small turnover given the 50 sales per year.  If that is indeed the turnover.

Now if that were Mr Blackmore I may be tempted to get to the triangle!

Purely from a personal prospective I don't think now is a good time to buy into any market, but keep a close eye on India, Brazeil and China for investment.

" I am eagerly awaiting this response Harry."

An intelligent professional response would certainly be respected - lets see !!!

Hi Foxilady,

What is the reference to "Mr Blackmore" ? Also (as an aside) I am encouraged by your reference to China/Asia investment since I put quite a bit of cash there today !!

Harry

 Harry,

Take me up on my bet and you will have all the answers you require but i would imagine the mayans are more likely to be correct than you not deflecting again.....

come on Harry...as foxilady said...grow some!

Im am 43,I live in a nice house,have just spent 3 weeks in Florida,support 3 children (1 in Uni) and have just treated myself to a nice sport car...(that sounds awful but labouring the point now)..... for a starter for ten (just for the doubting thomas;s) is it (a) my offices create a reasobalbe income and the market is ok and people are still buying, or (b) moncapitan is correct?

Answers on a postcard please,no crayon Harry.

until the  time when harriet becomes harry my pearls of wisdom will stay incased in the oysters of curiosity.

No one has disputed anyones claimed ad hoc sales. The point is these minor sales are completely irrelevant in terms of national property trends as various people have repeatedly pointed out to you. So, the BET proposition is silly !

What people have disputed is your recent bullish proclamation that the market is an "absolute buy" - now awaiting a response ???

Georgia

Why are you bullish on house prices when evidence by myself and John shows an accelerating trend towards house price declines?

18 quarters of declining prices and this is accelerating, not stabilising and certainly not increasing!!

It is very misleading if you are advising potential clients this.