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djm1972

Property Crash Porn Tonight

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1/2 The first of two documentaries charting the fortunes of some of the over one million Britons who have settled in Spain, and those who are planning on joining them. With the recent economic turmoil having brought property prices crashing down, this programme looks at those who stand to benefit, and those who are now living a nightmare.
Edited by djm1972

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My in-laws [spanish] live in Asturias [Northern Spain] where there is terrible unemployment but relative economic stability.

What's interesting is that although no properties are selling, there are swathes of empty new-build flats, prices have not gone down much. Flats in Oviedo are still on the market close to London boom prices.

The main reasons are Spanish stubbornness and economic assistance from the Spanish Government, who will buy support until they default.

I think prices are more depressed in the south where most of the owners are foreign, they get no state aid and are more willing to face the new reality.

I advised them to sell their Malaga apartment in 2006. I'm one awesomely popular son-in-law now.

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Big box of kleenex by the sofa

I've been working out with one of these for the past week in readyness for tonights program

com-grip-black.jpg

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We've got a nice villa in Nueva Andalucia (just outside Marbella). So I shall watch with interest.

I look on websites regularly to check on whether we might trade down to something a bit more easily manageable.

Prices down at least 40% in the mid range ( 3 bed, shared garden, shared pool). Hardly anything selling if at all. 400K Eur would buy something really nice now and I think they'll carry on falling.

Very top range 4 -5 million stuff not reducing and not moving. Couldn't afford it even if they dropped 70%!

Between the 2 ie detached, 3 - 5 bedrooms, private garden, private pool still seem to be selling prices only about 10% down in 2 years.

I assume the programme will major on the halfwits in 2 bed appartments.

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