The Euro Crisis: Spanish Property Under Threat… to buy or not to buy November 28, 2010
Monday, November 29, 2010 @ 1:41 AM
Tips on key point to decide whether to buy or not to buy in Spain?
The financial crisis has reached a new peak after the bail-out of Ireland. The pressure is now on Spain (and Portugal). The Spanish financial problem differs from the Irish one, but it is still bringing a debate as to whether Spain needs a cash injection from the EU as has happened in Ireland. Whether it does or it doesn't, the Spanish financial situation is still complex and has significant implications for the property market in many ways.
It makes sense to ask yourself ″Am I going to slip up?″ when buying in Spain.
To buy or not to buy in Spain? It is a difficult question. Let us be honest. The right answer "depends of your strategy". I would pay attention to the following key points of all the financial mess affecting property market:
- Unemployment & Purchasing Power Influencing Housing Demand and Affordability.
- Buy−To−Let.
- Prices.
- Market Supply.
- Mortgage.
- Currency.
Advice: do not buy yet unless you really need to invest your cash or find a good bargain. Do not rush! Prices will improve in 2011. Keep an eye on our next features to follow up how the market is moving!
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