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Property Prices |
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| Anonymous | Posted: 28.07.2005, 17:43 | |
| Unregistered User |
I'm slowly looking around myself and would be great to hear real stories from people who can shed some light on the subject i.e. what has been happening and what might be going to happen. Surely many people on this forum are looking to buy in Spain and therefore they must be very interested in this topic. I run a website on the Costa Blanca and I was up until 1am today writing my own thoughts on the current market - if you want to read it look at http://www.costablancauncovered.com/property-prices.html Mark |
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| John Ross | Posted: 29.07.2005, 12:21 | |
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registered: Apr. 2004
Posts: 39
Status: offline last visit: 25.08.08 |
Even though this site is mainly aimed at visitors rather than prospective residents, they do often overlap, so your input is welcome, Mark (that isn't carte blanche for anyone else to push their own websites, mind you). Your take seems more or less credible - it's been a seller's market and is not so much so nowadays, and though I doubt whether anything like a bust is on the horizon, prices may be flattening out a bit. A couple of things you overlook: i) Property prices have boomed everywhere in Spain over the last ten years, not just the Costa Blanca, and they are still rising. In Madrid, for example, they are on the way to catching up with London and in certain areas are even more expensive (and generally much worse value for money in terms of actual land acquired, and so forth). ii) The euro exchange rate has played an important role. It has shot up against the dollar, less so against the pound but even so, I think the latter has significantly less European buying power than three or four years ago. iii) People have not only been put off by media-invented scares, the LRAU has been pernicious in many ways. iv) In many cases, it has been rural parts of the Valencia region which have been urbanized (often to the disgust of ecologists and nature lovers). This is costly in terms of infrastructures like roads and drains, in other words, earlier buyers necessarily bear more of the brunt. v) There's a demographic phenomenon here, baby boomers approaching or reaching retirement age, and the peak is yet to come. vi) Where else in the Med are you going to buy? Turkey is too far away and too Oriental for most people, Albania will be a great place to live one of these days but not tomorrow, Croatia seems to have gone out of favour, I know not why, Italy and France are too expensive... So far as I can tell, investment "experts" still consider Spain a good bet. |
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