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Most of us will remember 2008 as the year when the world´s financial markets collapsed, and we lurched unavoidably towards recession.
But what of the Spanish property market? How has the market been affected by recent tumultuous times, and what are its prospects for the foreseeable future?
We asked Sean Woolley from Your Key to Spain for his thoughts on a turbulent 2008, and what may lie in store for prospective buyers and sellers of Spanish properties in the years to come.
“Firstly, let´s be candid – 2008 has been awful for the Spanish property market. The volume of Spanish property sales has fallen off a cliff, many estate agents have packed up (or more likely ´given up´), and everyone in the industry is looking a little nervously at each other, hoping for some brave words of encouragement, while others bury their head in the sand and try to reassure everyone that all is well.
It´s been a strange year for our own business – a decent first half, a lousy 3rd quarter , and then a quiet final quarter until December arrived, delivering our best monthly performance for 2 years! So how do we judge the year on that basis? And what are we likely to get in 2009?”
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