Wed. ITV. 9pm. Spain - Paradise Lost. About Brits/Housing Market in Spain

agent_orange_2

If a 'Brit' sellers are able to sell, at least they would have the benefit of the high value of the
Euro. If and when the pound recovers v. the Euro, property prices in Spain could be very attractive. But it'll never be attractive enough to buy a property on one of those new build
monstrosities as far as I'm concerned.

Pobby

A couple of things. If you had bought a while ago the euro was a lot weaker thus making it cheaper for UK folk to buy. So with people wanting to return to the UK that creates even more downward market forces.

There are huge amounts of over supply. It wouldn`t surprise me if some of these half finished apartment blocks are not torn down some time in the future.

Lot`s of pensioners moved there because it was cheap. A £1,000 a month a few years back would have allowed a couple a very decent living. That`s devalued by about 30% and with rising costs it is no where as easy as it was.

Lotus-eater

agent_orange wrote: »

But it'll never be attractive enough to buy a property on one of those new build
monstrosities as far as I'm concerned.

I can't believe the mess they have made of some of the coast, if I was Spanish I would not be a great friend of the incomers. All of those new apartment blocks, all stuffed together, what a dump!

chucknorris

Lotus-eater wrote: »

I can't believe the mess they have made of some of the coast, if I was Spanish I would not be a great friend of the incomers. All of those new apartment blocks, all stuffed together, what a dump!

I might be being niave here but I have heard that the Spanish do not dislike the Brits because they have reputation of not being scroungers like some other nationalities that have gone to live there.

I would be very interested to know if this is true or not, does anyone know from personal experience (I don't mean from a 2 week holiday I mean from living there)

breadlinebetty

I think people forget that we're in a WORLDWIDE property slump. From the US, UK, Spain, Dubai, Turkey, Cyprus, all the way to Australia - property has dropped and we're in a WORLDWIDE economy crisis.

It was obvious Spain was going to feel the pinch too!

chucknorris

breadlinebetty wrote: »

I think people forget that we're in a WORLDWIDE property slump. From the US, UK, Spain, Dubai, Turkey, Cyprus, all the way to Australia - property has dropped and we're in a WORLDWIDE economy crisis.

It was obvious Spain was going to feel the pinch too!

I think you are overlooking the fact that Spain also has unique problems that are compounding the effect of the global property slump

Pobby

Now add to the mix that some UK people did mad things just to live in Spain. Mortgage, no real job to pay it back with. Met one guy who had leased a tiny bar in Benidorm. Moved out his family. His 15 year old wasn`t even being schooled. A couple in their late 60`s also running a bar that stayed open until silly o`clock.

I thought I had it sussed. Buy outright on a non new build. Keep somewhere cheap in the U.K. and pensions would enable us to live well. Never factored in the crash with the pound. Anyway, my wife has gone off the idea.

ALIBOBSY

Our neighbours who are both retired were going to take the plunge in 2006. They put the house up for sale and moved. Sensibly they rented over there with a view to buying when the property here sold.
Luckily for them the house was as EA put it "in need of modernisation", and the older gentlemen refused to spend a penny on it when selling so it was never going to get the asking price. As we are in the NW rather than the SW there wasn't a queue of developers either.
After 5 months they decided it wasn't for them and moved back.

They are REALLY glad that they made that decision.

Felt sorry for that old bloke trying to finish off his own property and sweeping up the........

yuck

ali x

Conrad

Around 2005 I was a daily contributor to the property abroad section of CH4's forum.

I had this real bee in my bonnet about only buying in places that had not had a boom, namely Germany and N Morocco.

In particular I argued Spain and Dubai were to be avoided as they had experienced a medium to long term boom.

As you might imagine I was soon branded a troll and a thread wrecker, simply because I disagreed with the consensus view.

The Dubai buyers in particular were fierce and kept questioned why I was such a gloom head, and that if I had nowt positive to say, I had no place in the discussion.

That really does demonstrate the power and blindness of crowds.

People here only what they want.
My name on there was Thorr

mewbie_2

A fairly shocking program, and felt sorry for the pensioners obviously. Glad the seemingly ditzy woman managed to ignore the estate agent lies (still lying, still ripping off where they can).

Shame the program was two, three or four years too late. I don't recall seeing aerial photos of endless half built monstrosities during the boom years - was that selective editing by the Property at Home or Abroad brigade?

"They paved Paradise and failed to finish the parking lot".