25 Apr 2007 6:02 PM:

Gillespie,

This is getting interesting.

You say: "Go into any property developer in all of the regions you mention and ask for their sales literature in Dutch, German, Finnish, Swedish, Danish......and so on, you will come home with an empty bag."

ummm, what happened to Spanish? There are 500,000 British expats in Spain. There are more than 40 million Spaniards, who, though it may come as a shock to some, do not live in cardboard boxes.

It is the Spaniards who have driven the property boom nationwide (admittedly with some help from outside) and it will be they - and what happens to their economy - that decides what happens from now on. Many people have grown rich off the boom and there is nothing wrong with that. But many more have been left wallowing under debts they won't be able to rid themselves of for decades. 

Don't kid yourself. What do you think will happen to property prices where Brits - and Spaniards - buy on the coast if the market crumbles in Madrid and Barcelona? Supply everywhere already far outstrips demand.

Regards,
Magellan
Thread: Consider this before buying in Spain

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25 Apr 2007 3:00 PM:

Gillespie,

For starters I'm not particularly keen on Bulgaria either - but joking apart I refer to what I said in a previous post.

You say: "A drop in the Spanish market does not deminish British peoples dream of "Living in the sun"

I say: Is Britain the center of the known universe? Did the Brits cause the boom nationwide? Were they the ones buying in Madrid, Barcelona, Bilbao, San Sebastia, Gijon...etc? The answer is no.

What the Brits do is only a minor part of a much larger equation that is based on some very rickety funamentals.

Regards,
Magellan.
Thread: Consider this before buying in Spain

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25 Apr 2007 10:41 AM:

For anyone with rose-tinted glasses:

Spain hears that popping sound, as real estate bubble bursts - http://www.landsnatch.com

Spain's Property Stocks Drop on Concern Bubble Burst - http://www.bloomberg.com

Spanish property boom ends - FT.com

Regards,

Magellan
 

Thread: Consider this before buying in Spain

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21 Apr 2007 1:34 AM:

Are you people really so short-sighted?

Do you think the world revolves around England?

Yes, of course the Spanish property market looks great if you can sit there and rip off more English people. But how long are the "dumb" English going to keep coming? There has to be a limit somewhere. I grew up in Spain, I speak fluent Spanish and English.
 I live  in Portugal - that alone should tell you something!

Regards,
Magellan
Thread: Consider this before buying in Spain

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18 Apr 2007 12:00 AM:

Price pain in Spain drives Spaniards to look for investment property abroad

With property prices now sky high, Spain’s 10-year real estate boom is starting to cool and fears of a downturn are causing even Spanish investors to cash in and move out. Analysts expect Portugal and Germany to benefit from the exodus. More at: http://www.landsnatch.com

Regards,

Magellan
 

Thread: Consider this before buying in Spain

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