Comments on: A Viewpoint on the Spanish Property Bust

By: Damon Jones

Damon Jones — Mon, 28 Jan 2008 21:34:03 +0000

I think if you are going to invest in property, there has to be more advantages in play other than the weather. Possibly the problems we see in Spain are a result of too many people making investment decisions on the amount research they would put into planning a holiday.

As for Spanish speaking nations I have been watching Panama for the past 3 years & though a little further than Spain (from the UK) it is however closer to just about everything else in the world.
The visas are not out of reach & for many nations a standard 90 day visa applies on arrival. The property is still well priced & you can be lucky to find a good rental. Currently the government is spending billions on upgrades of ports, cleaning of polution, infrastructure & the widening of the canal, while global companies are relocating to take advantage of the tax benefits associated with the countries tax system, banking center & privacy laws.

The citizens are adapt to foreigners with many US & Canadian families having vacation homes or have retired in Panama already. Foreign investors have the same rights as local property owners, new construction is exempt from property tax, the weather is warm & the cost of living is low.

Be aware of ‘mega projects’ as investments & always research the history of the developer or get legal advise when buying an existing property. Overall, my experience has been good & I have not heard of one scam in my time there.

For those interested a good place to start is with a multi listing page http://www.real-estate.com.pa, but I am sure in your search you will find many corporations & articles to assist with any investment queries.

By: John DeVries

John DeVries — Thu, 13 Dec 2007 13:24:06 +0000

We construct bespoke property and as such have been exempt most of the panic associated with the sub-prime fiasco but one thing is certain: Spanish proprty has been over valued by as much as 50 per cent over recent years and prices simply were not sustainable. Whether or not the Sub Prime difficulties had happened, Spanish property prices had to either stop their upward spiral or fall. We believe prices are unlikely to fall much and more likely is that they stay stagnant for the next three or four years, allowing inflation to absorb the over valuation. There will be casualties and these are likely to be the little box properties in the resort areas many of which have been displaying sale signs for a long time.

A bigger threat to the Spanish property market is the simple fact that most buyers are now aware of the considerable dishonesty and risks associated with purchasing property in Spain. For too long the truth has not been allowed to spoil a good sale and whilst the market will get over the effects of the sub prime collapse, the effects of decades of dishonesty are likely to last a lot longer

By: Resale Centre

Resale Centre — Mon, 25 Jun 2007 12:02:05 +0000

Spain will never crash in the property market it is way too strong for it to collapse and day by day UK residents are still coming in their hundreds to move to Spain.

Okay there has been something of a slow down in the market but that is solely down to all the bad press that the country has been receiving from the UK press.

The fall in prices and the market can only lead to a huge rise again as people look to take advantage of the fall in prices which will see a massive rise again for the property market.

Spain is far too popular to crash.

By: ATLAS

ATLAS — Fri, 25 May 2007 12:01:28 +0000

DON’T FORGET OTHER INVESTMENT OPPORTUNITES

Tourist statistics proclaim that after sunbathing on the beach, the second most popular activity for visitors is shopping. There is a continual growth of retail on the Costa Blanca, with shopping malls including both international brand names and local small production fashion houses prominent among the hundreds of shops that offer just about everything under the sun. So as you can see there is plenty of room for investment here!