1. Treat the selling of your Spanish property with the same seriousness and commitment that you would a job of work
Do you recognise the lack of having learnt a previous lesson, removal of regulation, the sheer irresponsibility and the lack of attention to the clear warning signs? This is largely what has happened with the economy – with the property market allowed to rise out of control like an unguided missile carrying a nuclear warhead.
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British tourist arrivals fell sharply on Lanzarote last month. According to figures just released by the Spanish airport operator AENA. As the number of UK holidaymakers visiting the Island of Fire declined by over 17% versus January 2008.
Every month Tinsa (Tasaciones Inmobiliarias SA), the largest property valuation company in Spain, releases a house price index. This index shows that having reached a peak in early 2008 Spanish property prices have since dropped by 10.1% as highlighted in the January 09 index.
I am perplexed by why anyone has any doubt about who is responsible for the Spanish property crash. The blame, surely, must be laid firmly at the door of the Spanish national government – just as it can be with the governments of the UK and the US whose countries are suffering a similar property market meltdown.
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So, how do you ‘call’ the current Spanish property market? How long will the crisis last? The answers to these questions will define everything – from whether you bother trying to sell now to the sale price you place on your home if you do choose to sell.
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Placing your property for sale at the right price is one of the most important decisions you have to make when trying to sell your home. But how do you decide what is the right price in a property crash? To some extent it is the proverbial 64 million dollar question.
One of the most difficult things in times of fast market changes (ie house price decreases) is how to decide what to offer our property for. Price too high and you won’t get any interest. Too low and you could be giving money away. So how do you decide?
Two experts have ideas for how.
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There’s a great post on the spaineconomy blog, run by Edward ‘the bonobo’ a Catalan economist of British extraction based in Barcelona, which explains the current economic situation.
There’s a great post from Martin Dell at Kyero about getting accurate information on Spanish property prices, have a read here:
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