End of the Eldorado dream

[BrilloPad]

But what about Spain?

At least they still have nice weather!

[PAH]

Are prices in Spain actually dropping?

Seems the estate agent websites are still reporting prices much the same as for the last few years.

Seeing as most of my short holidays in recent years have been a week in a villa with a load of mates, I quite fancy buying something in Spain rather than the UK. Not easy to do research when the internet's full of dodgy data.

[AtW]

Are prices in Spain actually dropping?

Yes, but just like in the UK the market is stagnant - sellers don't want to sell and buyers don't want to buy (at current even reduced valuations). Credit that was driving it all up now dried up and banks don't want to lend until asset prices go back to normality OR buyers make big deposit.

[Platypus]

My heart does not bleed for wealthy people who suddenly find themselves a bit less wealthy.

[AtW]

My heart does not bleed for wealthy people who suddenly find themselves a bit less wealthy.

They are not wealthy dude - they are pensioners who bought relatively cheap houses to retire. Their main mistake is to ignore currency risk (which could have been eliminated if UK joned eurozone) and also hard to predict fall in income due to reduced savings rates. Assumption that their houses are liquid was also incorrect.

While my hearth does not bleed for them, my mind picks on the fact that if UK was in euro then big chunk of problems would have disappeared.

[Sol4ever]

Are prices in Spain actually dropping?

Seems the estate agent websites are still reporting prices much the same as for the last few years.

Seeing as most of my short holidays in recent years have been a week in a villa with a load of mates, I quite fancy buying something in Spain rather than the UK. Not easy to do research when the internet's full of dodgy data.

Thinking the same myself mate. Check out these sites

www.kyero.com
www.eyeonspain.com

[SantaClaus]

Are prices in Spain actually dropping?

Seems the estate agent websites are still reporting prices much the same as for the last few years.

Seeing as most of my short holidays in recent years have been a week in a villa with a load of mates, I quite fancy buying something in Spain rather than the UK. Not easy to do research when the internet's full of dodgy data.

Depends which part of Spain. Concrete highrises and tacky Brit resorts, yes!
Pretty villages in Mallorca, no!

[KentPhilip]

Depends which part of Spain. Concrete highrises and tacky Brit resorts, yes!
Pretty villages in Mallorca, no!

Indeed. I've just come back from a two-day trip to Benidorm (don't ask - it was a stupid idea. Was seduced by a £18 flight from Ryanair. What a tuliphole that town is) and there was all the signs of economic depravation. Many of the skyscraper blocks of apartments had "se vende" boards plastered all over themselves, place was relatively deserted, and most of the bars were empty.

[Beefy198]

They had a debate on the radio the other day about this which I overheard.

Basically a load of pensioners calling in and complaining that they can't eat out that often any more, which didn't exactly endear themselves to the other listeners. A couple were asking for the British government to 'bail them out' and even repatriate them, which fell pretty deaf ears.

[Doggy Styles]

An IFA I know used to spend a lot of his time in his villa out there in semi-retirement.

He's the IFA who sold me Nicola Horlick's technology ISA just before it bombed.

I've seen him walking his dog in the rain over here a lot lately.