no_one

Here in Spain, things will get very nasty ... Some people had their property on the market for over a year now, and not a flipping potential buyer ... The amount of flats, houses, villas and chalets which have been built in the last 10 years is real scary, especially along the Costa... I travelled the whole of the Costa Blanca, Costa Del Sol and saw sign after sign of SE VENDE .... the orange signs are turning yellow .. here in Madrid things are no different ... in the neighborhood, plenty of signs and not a single visitor ;-) I was in El Campello where I lived for few months about a year ago, a very much sought after resort near alicante, in fact one of the best ... Things were looking very good last year, this year things are looking toooo bad .. I spoke to a friend who runs an agency there, and she was talking not about a slow down, but real recession ... Those who will get hit hard are foreigner ... especially Latinos and some Moroccans ... plenty of them were, as in the UK, deceived by the banking system in lending them money they will have a lots of trouble paying back ... The reason I am saying latinos, is that if you go around the south of Madrid for example, massive areas have been built like concrete jungles using cheap material, a lots of them were bought by latinos and foreigners from eastern Europe... these will have a lot of trouble paying the high rates that have increased recently. I am glade I did not buy

Many thanks for the tips. I will get starting before I loos out

My first query/post and would probably be the last All I want to ask is: Moved to Spain a while ago and planning to stay until I decide to move somewhere else again. I hear the pound will loose some of it's value and since I am residing in Spain I am thinking about translating some of my savings into Euros. What's the best way to achive this and how/where do I get a good rate for my pounds. Many thanks in advance