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Prime Realist 8

From A Spanish Property Developer

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A friend out in Spain who was turning up to £25K a month during the boom is now only making about 2K, and it's still getting worse. During the boom, he worked about 3 days a week, but he's having to work a lot harder now.

None of this will probably surprise a lot of you, but what he said next did shock me.

"You're lucky over here (England). In Spain, we don't benefit from major supermarkets competing like you do, and food prices have shot up. He reckons the Euro prices are up 50% in the last year.

Any Spaniards able to confirm/deny in your neck of the woods?

Edited by Prime Realist 8

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A friend out in Spain who was turning up to £25K a month during the boom is now only making about 2K, and it's still getting worse. During the boom, he worked about 3 days a week, but he's having to work a lot harder now.

None of this will probably surprise a lot of you, but what he said next did shock me.

"You're lucky over here (England). In Spain, we don't benefit from major supermarkets competing like you do, and food prices have shot up. He reckons the Euro prices are up 50% in the last year.

Any Spaniards able to confirm/deny in your neck of the woods?

Spaniard here.

Not sure what your friend means by "we don't benefit from major supermarkets competing". Maybe in his corner of Spain supermarkets have manged to collude to avoid prevalent deflationary pressures in Spain. Appart from that, retail in general and supermarkets in particular work on scarce margins and competition seems to me as fierce or more that in the rest of Europe.

The list of region or country wide general market retailers in Spain is long.

http://en.wikipedia.org/wiki/Supermarkets_in_Spain

To that you need to add a much more developped network of small/private/family retail market shops that are the mainstream and that also compete with the big chains mentioned above.

Edited by Old_Traveller

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Thanks for the comments, guys.

So you're not seeing the sharp rise in food prices that my friend is seeing, Old_Traveller? What part of Spain are you in, out of interest? I can't for the life of me remember where my friend is based, but I do know it's 'out in the sticks'.

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My mum has a place in Spain, we've been going there for years. It is interesting to restock kitchen cupboards that haven't been touched for a year - and in Spain, they still use those little sticky labels at loads of shops.

I'd guess in the last two years that food inflation has been of the order of 15% per annum - particularly meat, jam, yoghurt. It used to be that anything processed was expensive, and that veg was a bargain - not any more. Bearing in mind that I am used to Ocado prices, I was staggered at the prices in the local veg market.

The Spanish supermarket environment is interesting. Where we are there are some large outfits, but most of the stores are old independents rebadged as "Coviran" - they are bloody expensive. The touristy places (badged Supersol) are almost unaffordable. We've found some chains (Mercadona, not sure if it is national) that are cheap and good - think Tescos. There are some hypermarket style sheds, but these are a serious drive away and not worth it. This is in the south, Andalucia.

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