As sure as the sun rises though, at some time in the future the markets will revive.
In a recession, it can be hard to picture a situation when markets return to some kind of normality.
As sure as the sun rises though, at some time in the future the markets will revive.
Right now, in many good quality locations in Spain, properties can be bought at below the cost of construction, making them an attractive option in my opinion for anyone taking a long term view.
That's valid, to a point. However there is a baseline below which materials can not go that is linked to factors such as oil prices etc, and that is also true of wage costs in construction. People will not work in a hard and dangerous job for the same rates that they could get from social welfare, it just doesn't happen.If the cost of construction continues to fall (i.e price of building land, materials and labour costs) as well as the falling demand for property, then what might seem attractive now, could of course be very bad value for many years to come.
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