SPAIN is in the vanguard of European house price increases.
Third only to Cyprus and Austria, Spain’s property prices jumped 4.1% in the second quarter of this year compared to the same period of 2014.
Other eurozone countries registered growth of 1.1% on average, and 2.3% across the European Union.
Eurostat revealed property prices in Cyprus grew by 7.4% while Austrian pads were up by 6.4% in the same period.
An agent told my neighbour (who is selling up) that prices will not return to their 2008 level for at least another 10-20 years, so this latest news will come as a surprise lol.
Well that certainly has come as a surprise, surely anybody in their right mind would believe the words of an estate agent. Most probably told the neighbor to drop the price even future so that they could complete a sale and gather the rewards of the commission.
Just passing on what I hear, Hampton, although this statement has been repeated by other property writers too. Prices may have recovered a bit, but that’s on the top of large falls.
Is that a sold sign I see at the heading. May have been one of those Millions of tourists that decided to purchase in Spain.
Spain has set an all-time record in terms of inbound tourists with 54.4 million visiting Spain in the first nine months of the year, in other words, 2 million additional tourists, posting growth of 3.8% on the same period last year, according to FRONTUR – the Inbound Tourism Survey, drafted by the General Sub-directorate of Tourism Information and Studies of the Ministry of Industry, Energy and Tourism.
Fred, I agree to a certain extent that prices have recovered a bit, but the main problem causing the large falls was due to over-priced property’s to begin with which the same people are now wishing to sell and like most things for sale one never recoups the price that an item was purchased at. No doubt you have better knowledge living there but hopefully things will pick up, perhaps not to the original inflated prices but at least sales. I notice that Taylor Wimpey have sold all their new property’s and intent to expand further over there, did they need to reduce the asking prices, I doubt it, which is also a good sign of a recovery in certain area’s regardless how small but this is purely through research and good marketing which the Spanish seem to lapse, hence a glut of unsold flats and villas.
The conundrum of Taylor Wimpey Spain who’ve been talking up their new developments yet their development sites have large stocks of owners’ re-sales all at heavy discounts competing with their new builds. Their previously sold new homes have fallen in price much to the dismay of purchasers, but TW don’t let on to new buyers who have to find this out themselves. Smoke and mirrors so buyers beware!
Mike your reply appears to indicate me, but I was just passing on the information as Fred had done earlier.
But through your various replies it would appear you do tend to have issues with Spain. Sell up and you don’t need to be so concerned anymore and as you said you bought cheaply 16 years ago so you should come out smiling. But did TW reduce the prices on the new properties that they have built, that was my point, you didn’t say, and possibly like all other acting agents are stuck with older second hand properties. Regardless, if people feel the value of their new property has possibly diminished why did they purchase in the first place knowing the situation on re-sales over their. Did they think of making a fast buck or like you purchased as a second home or a holiday home. Seems strange that they wish to sell so quickly. Perhaps one of the issues you may have with Spain is that you are also stuck with property you cannot sell. Would that be the main reason of your animosity towards Spain. I don’t know, don’t have property their, and not too concerned if they have blocked water drains, it’s just one of the places I tend to spend a wonderful holiday.
Another lecture from Ham, you are paranoid thinking my reply was aimed at you, the TW debate often crops up and I merely point out discrepancies in their hype and others with a vested interest despite keeping our holiday home in Spain for holidays and have no need to sell as it was a bargain at the time. If you don’t believe TW re-sales by owners take a look at Los Arqueros for example if you know where that is Lol You’re just guessing your way contentiously as to my circumstances such as quote ‘that you are also stuck with property you cannot sell’ and let’s not forget you don’t have a property in Spain neither are you there so why not wise up?
At least Ham’s advice is sound on one issue.. go to Spain for a holiday, and nothing else lol.
Well Fred, not only is it sound advice but 54.4 million holiday makers to Spain think the same way. lol
Ham, you seem to have an axe to grind. What is your particular interest in this subject? By your own admission you do not own a property in Spain. Your reaction to Mike’s post is quite extraordinary and having read it a couple of times, I cannot see any trace of animosity towards Spain per se. His observations regarding TW seem pretty much bang on.
Unless you live on Mars, you must have heard about the endless problems surrounding property laws in Spain and particularly in Andalucia – the house demolitions have been well publicised. It is not surprising that regulars on here are cynical against that kind of backdrop. Many of us are holiday home owners that spend part of the year in Spain and bought property just for that purpose, not to make a quick buck, we can do that in the UK. I am not affected by it myself, but people don’t expect to buy property in another EU member state only to find themselves having endless legal problems and never being able to sell said property due to oversupply. It’s a vicious circle, the property laws are not fit for purpose and therefore demand and confidence are very low.
Jane G, I have no axe to grind and I suppose don’t really have a vested interest in what happens in Spain except as a holiday destination, but surely I have the democratic right to make a comment similar to other’s not actually living in Spain such as yourself. I disagree totally with your comments such as living on “Mars” and not understanding the problems surrounding property laws in Spain particular in Andalusia. I maybe wrong but I take it that you may have purchased a flat, perhaps in a town or a villa that was legally built. I have not read of any blocks of flats or villas legally built being demolished except those properties “illegally” built. You are absolutely correct in saying that people don’t expect to buy property with endless legal problems, but you tend to miss two letter’s before the word legal, such as “illegal”. Now don’t go blaming the Andalusia government for the wrong doing’s of rogue Mayors and lawyers as slowly these rogues are being dealt with but can you direct me to any cases where “illegal” properties are being built as of today, doubt it. Yet there appear to be great joy in the possible demolition of a large Hotel that was “illegally” built. You just can’t have it both way’s Jane G. I believe some compromise is trying to be reached in solving this problem regarding demolition and there are only two way’s that this problem can be sorted and that is to legalize all “illegal” properties or to compensate fully all properties deemed for demolition prior to the act being carried out. Okay, so Andalusia has been slow in responding to the “illegally” built houses etc but we also have been slow in responding to certain problems in the UK going back 20/30 years which has all been regarding the “law”.
As to your comment regarding a quick buck I don’t think the average individual would be in that position in the UK today except if they are perhaps down-sizing and may I take your reading a couple of times of my reply to Mike as, shall we say, perhaps a compliment, if not please be carefully if you tend to reply to that point.
Mike, stop twisting phrases. I didn’t say: ‘that you are also stuck with property you cannot sell’, I said: “Perhaps one of the issues you may have with Spain is that you are also stuck with property you cannot sell”. Slight difference don’t you think
Ham – get a life. Your mouthing off with zero actual experience of living anywhere in Spain. Spending holidays in a country is no basis for spouting off about living in a country. I have lived in 4 different European countries. I visited all 4 either on business or for a vacation. The reality of actually living in those countries was in some cases almost completely different to the vacation/business experience. Why not find a forum where you can talk with actual experience, then people might listen to what you have to say.
Troll alert. Multiple postings, American spelling, zero understanding of the so called illegal property situation, now where have we seen that before?
Ham’s details and IP address have been added to the blacklist – so Ham’s comments will be treated as spam ;-)
Latest figures show home sales went up in September by 13.8% year on year. In the 12 months to September there were 216,682 sales. Not what you would boom territory, but a good sign and positive news for the construction industry.
Why is Spain constructing at all when there are already millions of empty homes? Spain should watch out since the last housing boom ended up turning into their biggest ever crisis.