http://www.dailymail.co.uk/news/article-2254208/Costa-del-Crash-Spains-property-prices-slump-50-cent-British-holiday-homes-worst-hit.html (http://www.dailymail.co.uk/news/article-2254208/Costa-del-Crash-Spains-property-prices-slump-50-cent-British-holiday-homes-worst-hit.html)
yes its all coming out now isnt it, the fall of the euro is nigh and spain will go back to the country it was 40 years ago.... no country can rise in stature that quick to where it was or is now,,,,,,,,,,,,it fed off the euro handouts the same as greece .
lets admit it the euro was the worst idea ever !!!
I am not attempting to be contrite but property no matter where is an investment and as it says on all investments the value of your investment may fall as well as rise, Fact of life.
As for the demise of the Euro this has been suggested since 2008 and as I recall would be gone by christmas 2009, well another fact of life it is here and is still the Sterling at its conception (cross rate 00.82) and even through all its problems is today at 0.8273 so basically same value vis a vis as over 10 years ago. If the Euro fails which is almost impossible the resultant crash would be catastrophic for Sterling so becareful of what you wish for.
Spain has come a long way in 40 years yes and if you had a concept of European cohesion funds ( what you are refering to hand outs ) this was for the benefit of the weeker European Countries in respect to infrastruture etc.
The euro a bad Idea NO has there been mistakes Yes it will still have a rocky road for the next 10 years but has been a boom for inter Community cross trade and long may it continue.
Theres a lot of economic experts wouldn't agree with that. I'd tend to side with them . 10 years is a long time for the euro to stumble on in its present form. I think the whole Greek nation would have committed mass suicide by then. With the Spanish unemployed not far behind them.
A lot of old news. Fuerteventura is on the up. It has a top climate 3 inch of rain in the last year and tons of buyers out here now from North Europe....
Don't know about the rest of the year but that 3 inches of rain fell in the 10 days i was over end of november. And last i heard then you were more likely to see Lord Lucan riding Shergar down Corralejo high st than a buyer on Fuerteventura. I must have missed him. (the buyer that is)
prices still to fall 50%, apparently :-\
scarey
VERY scary.
Be afraid, be very afraid
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There's no doubt the wolves are at the door. The Madrid government will be seen as the best circus act in town, in years to come, for resisting a full bailout to date. However, it can't last and when it comes, Spain and the Canary Islands will not be the 'cheap' part of Europe it has enjoyed so far. As it stands, homeowners can forget any plans regarding their property re-sale, and will soon be joined by the non home owning 'renters' who will have to cope with increasing taxes in some form or another coupled with an under-provision in health and other local services. Sales tax will rise, and any untapped way of providing money to bolster local / national coffers will be taken advantage of. Paradoxically, it will eventually be in Spain's interest to admit to a high level of 'black economy' as, they can then ask for EEC funds to rectify / police/enforce the 'grey' areas. As people have commented scary times ahead.
What ever you do do not buy a property in the UK in the next year. The new ISF forcast expects a 40% fall in most areas outside London....
Quote from: ashworth on December 31, 2012, 18:05:43 PM
What ever you do do not buy a property in the UK in the next year. The new ISF forcast expects a 40% fall in most areas outside London....
if you believe that you must be talking to the fairies
eeeeeeer let me think recession aside extra 11 million people in uk no land to build equals rises in my book and i think its called supply and demand!!! thaTS WHY SPAIN HAS POOPED
Would it not be more benificial for these so called "Economic Experts" to get their heads together, and for once come up with a positive set of steps to take in order to get Europe out of the mess rather than constantly bang on about how bad things are going to get. Your average brit loves bad news, its part of our heritage, just look at this forum. Lets be honest, if they are such experts, how come they did'nt predict the situation we are in to start with.
But just to keep the people happy I will add a bit more bad news, our interest rates have been kept low due to one main specific factor "Cheap China Imports", apparently that may be coming to an abrupt end, wage rises in China (some areas 12%) will make it far more difficult for them to compete as per the past decade, consequently our i.e. UK inflation will rise, interest rates will rise, house prices will be slashed by as much as 25% by 2014, the article gets even more depressing from another expert -yesterday. If you are thinking of buying to rent in the UK, dont "WAIT" was the advice at the end of the article????????????????????????????
Quote from: butchbuildersinc on January 03, 2013, 18:16:25 PM
Quote from: ashworth on December 31, 2012, 18:05:43 PM
What ever you do do not buy a property in the UK in the next year. The new ISF forcast expects a 40% fall in most areas outside London....
if you believe that you must be talking to the fairies
eeeeeeer let me think recession aside extra 11 million people in uk no land to build equals rises in my book and i think its called supply and demand!!! thaTS WHY SPAIN HAS POOPED
Dead right Butch.
Quote from: ashworth on December 30, 2012, 19:29:24 PM
A lot of old news. Fuerteventura is on the up. It has a top climate 3 inch of rain in the last year and tons of buyers out here now from North Europe....
Wishful thinking.
http://www.thisismoney.co.uk/money/mortgageshome/article-2256013/House-prices-high-say-economists.html?ITO=1490&ns_mchannel=rss&ns_campaign=1490 (http://www.thisismoney.co.uk/money/mortgageshome/article-2256013/House-prices-high-say-economists.html?ITO=1490&ns_mchannel=rss&ns_campaign=1490)
Didn't mean to offend anyone, just speaking my mind
Why oh why do people who have bought on fuerty saY TIMES ARE GETTING BETTER OR HOUSE PRICES ARE RISING (oops!) or this and that,,,,,,,
The fact is people bought abroad as investments and greed ( if they were to live there it doesn't matter how the market moves) or to make quick money or rentals
The truth is that some investments don't deliver what you expect and buying abroad was one of them if you bought up to 7 years ago. Its turned out to be a bad deal, so either sell at a loss or put up with it. The majority of people lost out and still are .
My heart goes out to anyone losing money but a gamble it is so stop trying to convince yourself otherwise.
Now after this comment those people who lost out will just jump to Spain and fuertys defense,,,,,,, it is dead financially and you will be before you get a return on what you've bought
Like Ive said if its not for living in as your full time home then halve the price you think its worth and sell and at least cut your losses and try again with something that might make money