Insight into Spanish Property

[katy]

Feeling listless and bored after the long festive indulgences i have been taking a look back on the forum. have to admit being a bit impish looking at what various posters said about the wonderful winter weather in Spain....I won't name and shame anyone

I spotted this dated Sept 9th 2005 from City Mike (whatever happened to him, he always had an excellent view of how things are in Spain) Nothing to do with the weather but his prediction on Spanish property was brilliant.

"I think you have to be an expert in economics rather than property. There comes a point when people simply cannot spend any more and that point seems to have been reached with the High street experiencing a very rapid slowdown in spending. I feel for the young Spanish people who have worked and saved hard for the last year because I think that they will have years of negative equity. However, the future should be bright for people who haven't bought yet as the Brits are far more likely to sell their holiday home before their UK property so there should be some bargains around in a year or so.

[anyroads]

Ah, but the bargains are still about and actually....

A lot of them are going to get cheaper. Alas, Spain is going nowhere in 2015. Manufacturing more, exporting more, but on less wages which is the crux of the matter.

anyroads

[beachbabe]

The UK is one of very few countries where buying a property is seen as an "investment". In most countries people buy a house if they think they will live in it to the end of their days - or they rent. I have lived in USA, Germany, France. Only in the UK are they property bonkers! In the US people used to look at me as though I was mad when I described the aspiration of UK youth to "get on the property ladder".

I don't buy nice cars because they increase in value and the same goes for jewellry, clothes and most other stuff. Fact is the uk doesn't build enough houses, hence shortage of supply and high prices.