A MAJOR British developer in Spain has revealed it saw an increase in sales of 50 per cent in 2010 despite the ongoing recession.
In particular, Taylor Wimpey de Espana announced the official end-of-year figures were boosted by sales in Mallorca.
“Mallorca has seen particularly positive figures due to two important factors,” said Javier Ballester, managing director of the firm.
“Firstly, we were not hugely overstocked as the recession hit so the supply and demand was always in our favour.
“Secondly, Mallorca is still considered a unique place and in many ways superior to some of the mainland destinations.”
A British developer in Spain – now that really is an unbiased opinion is’nt it – it always amazes me that these idiots can’t see how stupid they look.
In the FT last week, the Spanish government admitted that it would be at least 5 years before there would be any positive development in Spain’s housing market.
Prices are holding up in all the major cities and indeed Bilbao has seen some small price increases – all the grief is in those places where foreigners bought and where most of the insane over building took place.
Re Mallorca – it is the Germans who drive this market and guess what – they ai’nt buying.
I agree they may be saying this for their own good press, but sales have gone up drastically. Its a bit catch 22, nobody believes the only people that would know if sales had gone up or not.
And lets face it, you cant allways believe what you hear on tv can you. British tv has been hammering spain since a few years ago. Why put so much effort into making it look that bad.
If spain goes under, so does europe, its too big an economy to be allowed to fail.
Another point, BP got slated by the media to extremis, their shares dove, that would have been an excellent time to buy shares as no te media has left them alone, their shares have rocketed again.
The minute spain stops being the victim of mediatic abuse, is the minute it all starts going up again. So why wait till then? now is the time to buy, and lets face it, if spain takes europe down with it it wont really matter as everything will turn to crap and i cant see that happening, if you watch the news their even trying to make chinas economy look risky at the moment.
The worst thing thats happening at the moment that doesnt get any press is that big companies have all moved to asia or south america so they can make more profit, the problem being that if they are not creating any employment in the countries they sell to, who is left who can afford buy their products at a ridiculous markup?
Lets face it people will allways need somewhere to live, not necessarily a new pair of nike’s
Why put so much effort into Spain looking bad – because it is.
Facts – 1.3 million new homes unsold. €630 billion of toxic non performing property loans, that will never come good.
Whole industrial estates closed down, never to open again. The markets are well aware of Spanish personal indebtedness – the people have no money, only debts.
If Spain collapses it won’t take down -Germany/Netherlands/Austria/Luxemburg/Denmark or Finland. These are all countries with sensible economic policies/excellant education and infrastructure.
As I have friends in most of these countries I know what these people are thinking – they are sick and tired of funding corrupt southern Europe.
Apart from the collapse of the EU – a political construct doomed to failure, as is any such invention that does’nt have fiscal unity from scratch, these northern countries can create their own fiscal/monetary and political union and it will survive. and prosper.
As to China’s economy it is a bubble that would have burst if it was’nt a command economy. Even if it has a major correction, the momentum is so enormous that the East is going to become the dominant economic zone.
The mindset of most Spanish is medieval and unchanging, until they find the courage to take an honest look at themselves nothing will change.
Scrap all the saints days, build 21st century standard housing, learn how to use precious water resources properly, learn to respect the land, build high speed commercial freight lines instead of squandering capital on TGV passenger lines, then maybe Spain will get some good press.
Your post betrays an obvious vested interest (which you don’t state) and little knowledge of economic reality.