# Spain’s housing market recovery



## Guest (Mar 4, 2011)

Spain’s Association of Developers and Constructors (APCE) projected that, at this rate of property transactions, the Spanish housing market should recover considerably in 2011, 

Is this for real or the estate agents trying to make out that the property market is on the up, I just can't believe that 1million homes for sale in Spain will be sold within a few years, and that we have reached bottom and now prices are going to rise, I hear different from many sources that Spain still has a long way to go before a recovery. 

Spain?s property transactions and enquiries increase while oversupply falls | Select Property


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## jojo (Sep 20, 2007)

What gets me is that not only are there many, many unsold properties, but there are masses of half built estates and worse - there are some areas where they are still building evenmore and applying for permissions to build

Jo xxx


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## neilmac (Sep 10, 2008)

Robert46 said:


> Spain’s Association of Developers and Constructors (APCE) projected that, at this rate of property transactions, the Spanish housing market should recover considerably in 2011,
> 
> Is this for real or the estate agents trying to make out that the property market is on the up, I just can't believe that 1million homes for sale in Spain will be sold within a few years, and that we have reached bottom and now prices are going to rise, I hear different from many sources that Spain still has a long way to go before a recovery.
> 
> Spain?s property transactions and enquiries increase while oversupply falls | Select Property


Only an opinion!!! It could be that Spain is a good bet! When you look around the world the disruption from politics and natural disasters is significant - who wouldn't want to enjoy the calm of Spain?


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## jojo (Sep 20, 2007)

neilmac said:


> Only an opinion!!! It could be that Spain is a good bet! When you look around the world the disruption from politics and natural disasters is significant - who wouldn't want to enjoy the calm of Spain?



A very good point and one that apparently is causing a holiday boom in Spain this year!?

Jo xxx


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## Pesky Wesky (May 10, 2009)

Robert46 said:


> Spain’s Association of Developers and Constructors (APCE) projected that, at this rate of property transactions, the Spanish housing market should recover considerably in 2011,
> 
> Is this for real or the estate agents trying to make out that the property market is on the up, I just can't believe that 1million homes for sale in Spain will be sold within a few years, and that we have reached bottom and now prices are going to rise, I hear different from many sources that Spain still has a long way to go before a recovery.
> 
> Spain?s property transactions and enquiries increase while oversupply falls | Select Property


The price is still going down in most places. here are the latest figures. Somebody may find a page where it's clearer, but you can get a good idea from here
índice inmo50: evolución del precio de la vivienda de 2ª mano en españa — idealista.com/news
Scroll down to get a list of cities and price of squared metres.


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## mrypg9 (Apr 26, 2008)

To quote the renowned Mandy Rice-Davies....well, they would say that, wouldn't they? It's in their interests to puff the market up but facts don't substatiaste the claim. 
Add the unsold new and old builds together and the total of properties on the market amounts to 1.5 million.
More repos will most likely add to this figure in 2011.
Same as with the alleged 'boom' in holiday bookings. Yes, there may be some slight spin-off from the troubles in the Mahgreb. But the trend seems to favour long-haul and non-euro zone destinations.
Last year's increase of 1% was on already depressed figures and coupled with a price reduction of 20% is not good news.
Prices down 20%, numbers up by 1%...do the maths.
An article in Sur a couple of weeks ago spelt it out neatly:' All this talk of an upsurge in the tourist and property markets, yet all around I see businesses closing and Brits going home', wrote one disillusioned bar owner.
I am neither pessimistic or optimistic, just realistic and pondering on what I see around me.


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## Calas felices (Nov 29, 2007)

*Housing market on the up!!!!*

That's like turkeys saying Christmas will be cancelled this year or Zapatero saying there is no crisis. 

Not worth the trouble of debating the point. 

If you want to assess the popularity of Spanish holidays this year, just go onto one of the budget airlines and see how much room there is on the planes this summer. Loads of seats - fill your boots!!


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## Alcalaina (Aug 6, 2010)

The way they write these articles, anyone would think expats were the only people who buy property in Spain.

Until the economy improves and young Spanish couples can get jobs and mortgages again, how can the housing market recover? A lot of them are defaulting on their mortgages because they have lost their jobs, and moving back in with their parents. Meanwhile these houses stand empty and falling to bits. Total madness.


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## 90199 (Mar 21, 2010)

I have property on the coast in a small village called El Tamaduste. There is a notable increase in new properties being constructed there.

Is this the beginning of something ? Whatever, without doubt someone has and is spending money,

Hepa


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## jojo (Sep 20, 2007)

mrypg9 said:


> An article in Sur a couple of weeks ago spelt it out neatly:' All this talk of an upsurge in the tourist and property markets, yet all around I see businesses closing and Brits going home', wrote one disillusioned bar owner.
> I am neither pessimistic or optimistic, just realistic and pondering on what I see around me.


Yes but there are too many Brit bar owners along most of the costas from what I can see - one after another, all the same, all selling the same stuff and having a price war with each other. Regardless of whether we have a bumper year tourist wise, some of these bars need to go. I'm not sure the tourist of today is that interested in having a full english or sunday roast when they're on holiday in Spain anymore! I live here and occasionally its a treat, but if I were on holiday I wouldnt be the slightest5 bit interested - I'D BE WANTING SOMETHING LOCAL TO SPAIN!

Jo xxx


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## mrypg9 (Apr 26, 2008)

Calas felices said:


> That's like turkeys saying Christmas will be cancelled this year or Zapatero saying there is no crisis.
> 
> Not worth the trouble of debating the point.
> 
> If you want to assess the popularity of Spanish holidays this year, just go onto one of the budget airlines and see how much room there is on the planes this summer. Loads of seats - fill your boots!!


Sorry Casa Felices, I misread your post and wrote a load of irrelevant stuff.
Budget airlines may have empty seats - I don't know as I use them only when no scheduled flight is available - but my BA flights to and from Heathrow last/this week were full.
Although it was half-term.
But then I'm hazarding a guess that these travellers may spend more money than the more economically minded. I'm by no means wealthy but I prefer BA to BMI Baby etc. and while I can afford it will use 4 or 5 star hotels. When I can no longer afford these things I'll stay home. 
So one of my trips might be worth two or even three times that of someone using a cheap flight and a cheap hotel.
As we've said before, Spain needs to attract quality tourism and to knock off the downmarket image some resorts have acquired thanks to the drunken mindless antics of the chav element who patronise them.


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## mrypg9 (Apr 26, 2008)

jojo said:


> Yes but there are too many Brit bar owners along most of the costas from what I can see - one after another, all the same, all selling the same stuff and having a price war with each other. Regardless of whether we have a bumper year tourist wise, some of these bars need to go. I'm not sure the tourist of today is that interested in having a full english or sunday roast when they're on holiday in Spain anymore! I live here and occasionally its a treat, but if I were on holiday I wouldnt be the slightest5 bit interested - I'D BE WANTING SOMETHING LOCAL TO SPAIN!
> 
> Jo xxx


Agreed. That's how I feel.
Although I understand that some older people who haven't travelled much and see 'abroad' as a strange and threatening place might prefer to be in a Brit enclave.
Horses for courses.......


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## 90199 (Mar 21, 2010)

jojo said:


> Yes but there are too many Brit bar owners along most of the costas
> Jo xxx


We do not have a single British bar on the island

H


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## Johnfromoz (Oct 20, 2010)

Not really sure about market recovery. There was a 2b/r apartment for sale last week for 20,000eu and only 20 minutes from Las Palmas. If there are no takers for such a price then it means that people are waiting for prices to drop even further.

The whole island is full of empty new housing estates with "se vende" signs in windows but no takers. Why would anyone want to move into a ghosttown?


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## jimenato (Nov 21, 2009)

Hepa said:


> We do not have a single British bar on the island
> 
> H


HA!! Do I detect a business opportunity?


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## gus-lopez (Jan 4, 2010)

jimenato said:


> HA!! Do I detect a business opportunity?


I was going to post that , then I remembered that there were only 2 other Brits living their!


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## Stravinsky (Aug 12, 2007)

Alcalaina said:


> The way they write these articles, anyone would think expats were the only people who buy property in Spain.
> 
> Until the economy improves and young Spanish couples can get jobs and mortgages again, how can the housing market recover? A lot of them are defaulting on their mortgages because they have lost their jobs, and moving back in with their parents. Meanwhile these houses stand empty and falling to bits. Total madness.


Good point, and more to the point BRITISH expats.

A few things have to be remembers imho.

Firstly, a lot of the property for sale in Spain at the moment is property that, quite frankly, many would not want to own. Small regimented attached boxes on huge urbanisations, overlooked and cramped. Not for me, and not for many.

Secondly, people keep talking about the Brit Expats not buying. That may be true, but they are not the only people who buy property in Spain. Apart from the (ignored) Spanish, there are Germans, Russians, etc etc.

So a decent property set at a realistic price may well sell. The guy down the road advertises his house with a British estate agent. It's basic. Never been lived in, has no pool and is looking a little knackered. Two bedrooms, lounge, bathroom and American kitchen. He started it off at £250,000 and I dont think anyone has been to see it from what I am told. A little further on, a similar but slightly larger house is advertised with foreign estate agents at £200,000. It sells to a Belgian couple for £185kish including furniture and the car.

Go figure ...............


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## 90199 (Mar 21, 2010)

gus-lopez said:


> I was going to post that , then I remembered that there were only 2 other Brits living their!


No business opportunity here, the bars, with a few notable exceptions appear to be very quiet, local people just do not have the cash to spend.

Due to the isolation of the island, normal run of the mill tourists do not arrive, the ones that do arrive are the more adventurous mainly from Scandinavia, lots from Germany and quite a few from Spain and there does appear to be a recent increase. But very few from the U.K. and the few that do arrive I suspect would not be interested in Yorkshire Pud and Bisto Gravy, Thank goodness 

You are right we English are three, Boss Lady me, and a chap who lives on the other side of the island,

Hepa


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## jimenato (Nov 21, 2009)

A couple of friends of mine from England will be visiting the island shortly. They have already done La Palma and La Gomera - they are going for the full set. I'll tell them that if they hear an English voice to say "Hello Hepa" - there'll be a good chance it'll be you.


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## 90199 (Mar 21, 2010)

jimenato said:


> A couple of friends of mine from England will be visiting the island shortly. They have already done La Palma and La Gomera - they are going for the full set. I'll tell them that if they hear an English voice to say "Hello Hepa" - there'll be a good chance it'll be you.


The word "Hepa" is used in Venezuela, it means Hello. There is a large Venezuelan population here.

I think they will find all three islands to be completely different, very beautiful and mainly unspoilt. I hope they enjoy themselves, I am sure they will, and yes if they hear English spoken, probably us or the Canarian/Australians,

Hepa


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## jojo (Sep 20, 2007)

mrypg9 said:


> Agreed. That's how I feel.
> Although I understand that some older people who haven't travelled much and see 'abroad' as a strange and threatening place might prefer to be in a Brit enclave.
> Horses for courses.......



I agree and its nice that there are some English bars, its also nice to see bars of all other nationalities too - after all, we're living in a multinational world now - but I dont think we need quite so many "British Bars" - Benalmadena and Fuengirola seafronts are full of them, every other bar is advertising "full english", "sunday roasts", "English football" etc.... most of them are having a price war with the others and sadly most of them seem to be struggling

Jo xxx


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## maxd (Mar 22, 2009)

Buy in a rising market, not a falling one unless you can catch the knife by the handle. People need to remember it is a lot easier to buy than it is to sell.

Right now it makes far more sense to rent. A lot of the banks are going to be forced to dump a load of troubled assets into the market in 2011 and take the hit. I think another year or 2 to go before we are anywhere near a bottom in Spain.


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## Deecoco (Jan 9, 2011)

*Property Market recovery.*



Robert46 said:


> Spain’s Association of Developers and Constructors (APCE) projected that, at this rate of property transactions, the Spanish housing market should recover considerably in 2011,
> .....................
> 
> Not sure how much faith you can put on this statement as much as I would love to believe it. However, what I do know is that I have had my property on the market for many months now. We decided to reduce the price considerably and place it with several Estate Agents.( All of whom have said that our property is a realistic valuation and were happy to place it on their books.)
> ...


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## jojo (Sep 20, 2007)

Deecoco said:


> Spain’s Association of Developers and Constructors (APCE) projected that, at this rate of property transactions, the Spanish housing market should recover considerably in 2011,
> .....................
> 
> Not sure how much faith you can put on this statement as much as I would love to believe it. However, what I do know is that I have had my property on the market for many months now. We decided to reduce the price considerably and place it with several Estate Agents.( All of whom have said that our property is a realistic valuation and were happy to place it on their books.)
> ...


I've heard that alot of Russians are buying in Spain now too

Jo xxx


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## Alcalaina (Aug 6, 2010)

jojo said:


> Deecoco said:
> 
> 
> > I've heard that alot of Russians are buying in Spain now too
> ...


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## mrypg9 (Apr 26, 2008)

Deecoco said:


> Spain’s Association of Developers and Constructors (APCE) projected that, at this rate of property transactions, the Spanish housing market should recover considerably in 2011,
> .....................
> 
> Not sure how much faith you can put on this statement as much as I would love to believe it. However, what I do know is that I have had my property on the market for many months now. We decided to reduce the price considerably and place it with several Estate Agents.( All of whom have said that our property is a realistic valuation and were happy to place it on their books.)
> ...


Err...Swedes, Norwegians, Brits, Canadians are _all_ expats, or immigrants, as I prefer to call myself
I too think that the property market has further to fall. Of course the APCE would talk up the market.
Properties that here were valued at a million euros two or three years ago are now on the market for almost half the price...and still not selling.
A friend who firmly stated to the Estate Agent that she would require 500000 euros 'in her hand' for her property is still, after two years...occupying the property.
I have been offered fantastic properties by an estate agent acquaintance, all on or very near the 'New Golden Mile' at half their valuation a couple of years ago.
Of course the difficulty lies in judging at what point to make a bid....But I think you can safely say that another year will see another fall in prices.
There are already over one and a half million new builds for sale, plus older properties. 
And now the banks are about to start placing god knows how many more on the market....


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## Pesky Wesky (May 10, 2009)

Alcalaina said:


> And Qatar and Saudi Arabia appear to be buying the entire country ...
> Qatar pledges to invest $4 bn in Spain :: La Prensa :: America in English


And Gadaafi too!!
Government freezes Gaddafi's assets in Málaga


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## Nignoy (Jun 4, 2010)

Well we leave australia on the 31st of march and should arrive in Madrid before the end of april, as far as the agents are concerned who have been putting together a list of rural properties for us to view,they say if we viewed 5 properties a day for the next 5 years in our price range we would still only be looking at the tip of the iceberg!!by being able to pay cash up front, and with all the homework and research done before hand, we should be able locate a 2nd home and have absolutely no problems with european laws


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