Upturn in Spanish property sales?

I think potato peelers, good knives, graters should be provided in a kitchen.

and the number of times I had to buy a tea pot......!

Oh dear, this looks very concerning especially when you read of the ongoing impact not only to the local economy but also those stuck in limbo and compromised by past illegalities. I suspect a long legal road ahead for many which sadly will only add to uncertainties associated with property purchase in Spain until such time as effective reform and timely compensation is forthcoming.

http://www.spanishpropertyinsight.com/2015/11/05/marbella-under-a-cloud-after-supreme-court-strikes-down-town-plan/?utm_source=Spanish+Property+Insight+News+Bulletin&utm_campaign=bd5fdc0319-SPI_NB_2304144_23_2014&utm_medium=email&utm_term=0_5c1bbc37e8-bd5fdc0319-137954973

This message was last edited by ads on 07/11/2015.

Same old – same old Ads, property involvement in Spain is either a ticking time-bomb or a nightmare from day one.........not just for a buyer but for honest developers as well, I speak from experience.

The Marbella situation is simply another example of the chaotic planning rules and corrupt systems in place. Let the pseudo-intellectuals on this forum who know more than us mere mortals about property refer to us the doom and gloom brigade, but this is reality and unless you have spent years trying to fight the contradictory rules to no avail – you will never understand.

Woodbug, people do not always agree with each other and personal "put downs" directed at those who do not share your views should be unnecessary.  It's far better that opinions are formed based purely on the facts - "same old same old" means nothing to me.

So glad that I unsubscribed from this topic. There doesn't seem to have been much discussion of the upturn in the Spanish property sales since I last posted, just opinion on why it isn't likely. Another global world recession, the Chinese economy, US Interest rrates, terrorism affecting tourism, corruption during the boom years ...

Meanwhile, back in Murcia, it seems that property sales have been doing quite nicely. Interesting article in Mucia Today

Murcia tops October property sales increases across Spain

Property sales in Murcia are up by almost 12% this year

The number of residential property sales registered in Murcia during October was 1,063, an increase of 35.1% compared to the same month in 2014, making the Region the most impressive performer in the country in this respect according to figures published by the central statistics unit on Friday.

This is the first time since 2011 that the sales total in Murcia has topped 1,000 for three months in a row, and the year-to-date cumulative figure is now 11.9% higher than at the same point last year at 9,218. Most of this total is accounted for by the second-hand market, as during October only 12.3% of all homes purchased were new-builds. 

Not only are sales increasing, but prices are rising too. Another article from Murcia Today.

Property prices rise in Murcia and the rest of Spain

Spanish property market buoyant as 2016 approaches

The latest statistics published on Thursday regarding residential property prices in Spain contain the most positive set of results since before the seven-year slump began in late 2007, and this is reflected in all of the Property prices rise in Murcia and the rest of Spaincountry’ s seventeen regions including the Region of Murcia.

The year-on-year comparison shows a house price increase in Murcia of 1.8%, lower than the national average (4.5%) but nonetheless a continuation of recent positive developments in the market. In fact, the price rise in the Region was actually less significant in the third quarter of 2015 than in the same period last year, when an upward movement of 1.9% was reported, but this could easily be rectified in the last three months of the year when a poor end to 2014 is eliminated from the figures.

Interesting article claims that Spain is now the 6th largest property market in the world.

This country is now the 6th largest property market worldwide

Lifestyle property investment is the name of the game in Spain

Spain’s real estate sector seem to have always had an on-again-off-again relationship with investors – it underwent a property boom up to the Global Financial Crisis before prices and investments dived in 2008 – but it looks as though the Mediterranean country is back on track in 2015 and is destined to become a glittering investment proposition once again.

The Corner reports how Spain is now the sixth largest real estate market in the world, according to the latest research from CBRE, overtaking perceived giants like France, Canada and China and improving on last year’s 11th place finish.

In the months to September 2015, investment in Spain’s property market already stood at EUR10.8 billion (USD11.75 billion) and is expected to hit EUR13 billion (USD14.1 billion) before the year ends.

Spain’s previous record for property investment was EUR10 billion (USD10.9 billion) during 2007.

Both commercial and residential Spanish opportunities have been swept up by investors, with the latter very much determined by individual lifestyle choices and the desire for a second home, according to OPP Today.

“This time around the market is lifestyle driven by affluent buyers seeking a new home. This is the main difference from before, in the last boom ‘amateur investors’ blew the market in to a construction frenzy ultimately leading to a market crash,” explained Adam Neale, owner of Costa del Sol-based real estate agency Terra Meridiana.

Also mentioned in the Wall Street Journal amongst many other financial investment sites this week

I'm not sure why there is no much 'talking up the market' around at the moment. I realise most of it is done by agents of one sort or another who have a vested interest so to do. I think a reality check is needed here.

Historically the property market in Spain goes through peaks and troughs on a continual basis. Largely connected to the state of the economic climate elsewhere and the exchange rate to the Dollar and Sterling. What we are starting to see now is a slow return to a normal functioning market that other EU countries enjoy. Not the crazy, schizophrenic days of the last decade which I doubt we will ever see again. The financial institutions got severely burnt and won't want or be allowed to repeat the experience.

The market should eventually stabilise to the norms of modest sales growth and little property inflation. Agents like to create a frenzy, suggesting buy now before it’s too late. Grab a bargain and similar Gump. Property journalists like to sit at their desks dreaming up something to write to keep their editors happy. Agents like to show on their web sites property with sold labels attached, giving the impression property is selling like hot cakes. It is not. 

The truth is there is a massive back log of unsold and repossessed property all over the country. There is also the resale market back log with owners who want to sell but have not bothered during the crisis. They are still biding their time and so are the banks who are reluctant to flood the market.

It is a buyers market and likely to remain so for some considerable time. So do not be fooled by all the hyperbole sloshing around the web and in the bars. Nothing much has really changed.

You are 100% correct Micky. The figues concerning house prices and house sales mean nothing as each source has different information. The figures include investment and commercial deals and nobody seems to have factored in the existing property owners selling and buying, that don't affect unsold housing stocks or indeed the reposessions that add to the current stocks.

The unsold properties are generally not in desirable locations and/or are undesirable in themselves.  They may never sell.  This however will have no effect on the property market overall.  Housing is not a homogenous commodity.  People buy desirable properties in desirable locations.  People buy undesirable properties in desirable locations.  People do not buy undesirable locations.  

This thread is being driven by emotion. On both sides.  Boring.  

Perrypower - if you find it boring don't read it or participate!

A lot of people, myself included, have a lot invested in Spain and therefore it is an important topic.  I try not let this influence my thinking, but it's good to exchange views. 

I take the statistics quoted with a pinch of salt as they're probably largely politically orientated.  But in Murcia where I am, for sure there are increased sales (a neighbour is an estate agent) and modest construction activity.  It's interesting to know if this is the same elsaewhere, or a flash in the pan.

** EDITED **

Perhaps PP you would be good enough to enlighten us with your wisdom and knowledge of the subject. Since admitting boredom with any discussion illustrates a lack of imagination I look forward to it.

Just read the comments I've already made on this thread; then and you will be able to sleep safe and sound.

Woodbug, people do not always agree with each other and personal "put downs" directed at those who do not share your views should be unnecessary.

I agree,"put downs" should be unnecessary,but on the other hand,it's terrific fun to have a  "bundle".A bit of verbal flaggelation never did me any harm at school,I can tell you,so man up .Otherwise apart from the more informative things on the site( i.e legal bumpf,sterling work by galgos folk,bank actions etc) most of us would be subjected to the mindless piffle that is often written by our "betters" on the blog.Call it a lecture.I pifflicate quite well myself,but the same old same old from the usual supects finds one realising that the chances of "them" writing something origional is about as likely as seeing an attractive person on the Jeremy Kyle show (never seen it,but I'm told most of the "guests"could be extras in a zombie film.)"Newbie,Put downs,Ryanair,Rain in the UK,Never going back,Price of fruit,Busier in Spain,I'm a writer,I'm an artist,Relatives cried at the airport,Prices up,Prices down,The weather,The culture,Family is "eveyrfin" in Spain,The Uk has changed since I left (no #### Sherlock)......................change the vinyl please.What about some nice risque scandals?

OK,back on track; (colon,semi colon,full stop? All a mystery to me).It is quite clear from recent blogs,that you have all become over excited and fractious because of forthcoming festivities,so to avoid you'all having to go and sit on the naughty step..............Ready?..............deeeeep breath.....hoooold it.......hooooold it.......eeeexhale slooooowly...slowly.........Better? Good,now find somewhere quiet and do some "Om mani padme hum" chanting,for your sins.Tomorrow,wake up in a better frame of mind,'cos I dont want to have to speak to  you out again.

Origional question? Property prices in Spain will rise or fall or stay the same,and you can take that to the bank! Try to think "outside the box" (new term for "with a bit more IQ" apparently) Think about volumes,exchange rates,prices of properties in other countries,or if property prices don't interest you,think of something else.I know what you are all thinking........zzzzzzzzzzzzzzzzz..........I do my best.

I wish y'all a Happy Christmas wherever you are (except the geezer wot "doored me mota).

PS Loadsa errors here.Sorry,composing on my exercise bike.

PPS Do you realise Salvador Bacarisse's Guitar Concertina which I think is the most beautiful piece of music ever written,has never been on Dessert (just kidding!) Island Disc.Pity he died in 1963,'cos he could have made it a bit longer!

If you do not have anything relevant to add to the thread please refrain from commenting and derailing it. If the thread does not interest you, also, please refrain from intervening. It only disrupts the thread for others, who do find it interesting. Please remember to be polite and respectful to all members. If anyone is just interested in arguments or stiriring things up, you have come to the wrong forum.

Merry Christmas

Meanwhile, back in the real world

NOTARIES: Home sales and prices up in 2015, growth forecast to continue for now

Spanish home sales and prices rose in 2015, according to the latest figures from the notaries, in a sign that some sort of housing market recovery is underway.

So I guess the answer to the thread question "Upturn in Spanish property sales?" is still - Yes

Interesting latest stats

http://www.tradingeconomics.com/spain/housing-index

Lies, damned lies and statistics! 

The problem with a national average price per square metre is that some people (potential buyers) seem to think they can apply that to whatever part of the country they like. I paid more than the all time high average €/sqm price shown (2008), but back in 2004. Now, however, people seem to think they can get a property like mine for the average €/sqm price of today, They can't. If I thought I could buy a 100 sqm apartment in the centre of Madrid for €142,000 I wouldn't be sitting here now typing away!