27 Jul, 2016 @ 16:30
1 min read

OPINION: At last some positive post-Brexit news

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THE optimism for the property market outlined in this issue’s Observatory is a surprising w5857235122_659041ded0_belcome break from the post-Brexit doom and gloom.

The think tank of respected professionals believes that the coast will not be too badly damaged by Brexit.

Yes, some Brits may have put their purchases on hold, but they will be back once things stabilise, and other nationalities will fill the gap in the meantime.

While the Brexit result still hurts for many reasons, it’s nice to know at least something isn’t going to pot!

Staff Reporter

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  1. Weakest banks in Europe – Italy, huge debts, Portugal, Spain – could’nt stand the smallest shock without collapsing and Deutschebank and Commerzbank (Italian bank bonds) tottering. Just look at the price to book value of these German banks, you don’t even want to look at the Italian and Spanish banks. When the Euro goes and the Peseta re-appears, rampant inflation, not a time to think about buying anywhere in the Eurozone. The sensible shrewd move is to wait and see.

    • Summed up succinctly there Stuart, and ‘wait and see’ has to be the best policy for anyone considering buying in the Eurozone.

      There are also many remainers in the UK still posting gloom and doom prophesies for the UK as if they want to be proved right however several upbeat reports have been published in the last few days which they don’t seem to like: Retail sales were up in June and July since Brexit vote, UK industrial output grows at fastest rate since 1999, the stock market has risen strongly too and all since the vote.

      The main negative for many especially retirees and UK imports will be the exchange rate but then this also is good for UK exports! UK property is artificially still far too high deliberately aided by the suspect BOE and Treasury.

  2. Mike,
    the property market is all that the elite is concerned with. It is destroying the very fabric of life in the UK, sadly this applies across the whole world. If the banks and by implication, the world’s 1% had been left to implode in 2008, the whole world would be in far better shape than now.

    It all started with Greenspan and his deliberate laissez faire attitude to the parasitic financial services in the USA. This created the sub prime fiasco which the corrupt US banks sold on to gullible banks in the rest of the world. I well remember the Bank of Spain being so smug that Spain was not involved LOL, no it had it’s own madness going on.
    All the dummies (what else can you call them) in the various central banks have no more ammo left to fire. Any increase in mortgage rates will take out the UK property market and certainly all the capital cities of the world as well – the Ponzi scheme is wobbling and badly. So what the hell do I do with our capital, it is after all just pieces of paper – $US/Euros/YEN. Buy gold – caveat emptor – there’s going to be a lot of people who THINK they own gold but are going to find out that they don’t – there’s the actual gold that has been mined and then there’s the gold that so many have ‘bough’t – which simply does’nt exist. I’m beginning to think that toilet paper is a good investment, trouble is what are you going to accept in return, certainly not the fiat currencies – interesting times indeed.

  3. Even though we still own a UK property the affordability factors for so many is unreal. In London and other so called hotspots average prices are approx 10 times earnings which is a disaster for youngsters trying to buy and those wishing to buy or retire where they grew up. All unrealistically inflated by BOE and Gov’t because they rely on rising property prices as a ‘healthy economy’. Its stupid! The BOE also punished Savers for a lost decade whilst helping 100’s of 1000’s Liars Loans borrowers in that time, fraud in other words, but unpunished.

    Just a small interest rate rise will stuff so many people.

    The other problem re UK property is that there are huge numbers of look-a-like bland red brick estates all with their 30% social housing that will turn into ghettos, the quality of new build has become awful.

    Sorry to go off topic there, however the mood in the UK since Brexit vote seems generally liberating, markets are ok to good and Cameron’s World War hasn’t happened yet!

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