dinodini Report post Posted September 21, 2005 demonstration of the housing bubble apartment in Seville, Spain: apartment To rent: 700 euros/month To sell: 360.000 euros (=mortgage to 30 years, euribor to 2%: 1.420 euros/month. future euribor to 4%: 1.823 euros/month. To rent: 700 euros/month. To buy: 1.823 euros/month (to 30 years). is this or not a housing bubble? Quote Share this post Link to post Share on other sites
paulm Report post Posted September 21, 2005 Si, es una puta mierda, no? Quote Share this post Link to post Share on other sites
Waiting Patiently Report post Posted September 21, 2005 I hear that sales are drying up and prices coming down on the costas. After the booming market of recent years and the massive oversupply of new-builds all round the coast that bubble is going to go with one hell of a bang. Quote Share this post Link to post Share on other sites
BandWagon Report post Posted September 21, 2005 (edited) I'm quite looking forward to buying a nice villa somewhere near the coast in a few years time. When this bubble has burst, don't expect a recovery anytime this or next decade. Massive over-development is going to completely stuff the Spanish construction industry for years. But it may well create other opportunities. Edited September 21, 2005 by BandWagon Quote Share this post Link to post Share on other sites
dinodini Report post Posted September 21, 2005 I hear that sales are drying up and prices coming down on the costas. After the booming market of recent years and the massive oversupply of new-builds all round the coast that bubble is going to go with one hell of a bang.<{POST_SNAPBACK}> the foreign real estate investment in Spain: 2003: +10% 2004: -5,3% 2005: -17% next year: -30%? the house in Spain is already expensive even for the foreigners. Who will buy the 800.000 apartments that have been constructed this year? Only in Andalusia (7 million inhabitants), this year but of 100.000 houses is constructed, just as in all the United Kingdom (60 million inhabitants). Quote Share this post Link to post Share on other sites
dinodini Report post Posted September 21, 2005 hipoteca vivienda = mortgage Quote Share this post Link to post Share on other sites
Michael Report post Posted September 21, 2005 (edited) demonstration of the housing bubbleapartment in Seville, Spain: apartment To rent: 700 euros/month To sell: 360.000 euros (=mortgage to 30 years, euribor to 2%: 1.420 euros/month. future euribor to 4%: 1.823 euros/month. To rent: 700 euros/month. To buy: 1.823 euros/month (to 30 years). is this or not a housing bubble? <{POST_SNAPBACK}> yes, yield at 2.3% is horrendous!....suggests house is really worh about 100,000 Euros. The population of Spain is only two thirds of UK's , yet 4 times as many homes were built last year........ Edited September 21, 2005 by Michael Quote Share this post Link to post Share on other sites
Won'tGetFooledAgain Report post Posted September 21, 2005 Travelled from Madrid to Toledo last Sunday. At one stage in the journey we saw scores of tower cranes over a couple of miles in what looked like one contiguous building site. In addition other pockets of three or four cranes could be seen on several other sites along the route. Hard to tell what was being built at the stage of development we saw. Looked like a new small town in size. Anybody got more info on that particular tower crane city site on the Madrid - Toledo road.? Quote Share this post Link to post Share on other sites
El_Pirata Report post Posted September 21, 2005 Gallegos boludos... Their economy is in hyperdrive at the moment (at least compared to the rest of the EU), but on the basis of what? They don't have that much left in the way of industry (textiles getting killed by the chinese for example) and their tourist industry is not as healthy as it used to be. Their big corporations invested heavily in Latin America in the 90s and got stung, so they're not bringing in too much revenue. They appear to have the same problem as us - it's all a big debt bubble. They really need higher interest rates, but as they're stuck in the euro they have no chance of getting them, so they'll continue overheating for a while yet... Quote Share this post Link to post Share on other sites
Guest Charlie The Tramp Report post Posted September 21, 2005 A mate of mine who has had a property in Spain for 20 years says hundreds of Brits are trying to sell their properties as the dreams have turned sour and now discovering MEWing was not a good idea after all. People will not buy second hand when there is an over supply of new builds and even they are not selling he says. Hence another ingredient in our debt bubble to help along the big bang. Quote Share this post Link to post Share on other sites
Guest Charlie The Tramp Report post Posted September 21, 2005 The chickens come home to roost.<{POST_SNAPBACK}> They always have and always will. Quote Share this post Link to post Share on other sites
dinodini Report post Posted September 22, 2005 Travelled from Madrid to Toledo last Sunday.At one stage in the journey we saw scores of tower cranes over a couple of miles in what looked like one contiguous building site. In addition other pockets of three or four cranes could be seen on several other sites along the route. Hard to tell what was being built at the stage of development we saw. Looked like a new small town in size. Anybody got more info on that particular tower crane city site on the Madrid - Toledo road.? <{POST_SNAPBACK}> Is this? Sesena, in Toledo: Sesena Quote Share this post Link to post Share on other sites
newaccount99 Report post Posted September 22, 2005 Costa del Dreams (holiday and investment apartment complexes) 5 years on from now 2010: Four bedroom with on-suite and balcony: BTL investment special: Complex amenities: Golf course and sports clubhouse: Quote Share this post Link to post Share on other sites
