Diary of an Estate Agent in Vejer

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Buying property in Vejer? Is the euro going to collapse?

The Spanish economy has been taking an absolute pounding in the British press in the last few weeks.I guess Spain is the most popular destination for British tourists, and more British people own holiday homes in Spain than in any other country. The Spanish generally like the English and pretty much put up with even the most inappropriate lager- induced antics! It must help sell newspapers and provide a distraction from the reality of the equally bad British economy. These days I seem to spent a lot of my time discussing the high charges of interest for Spanish government bonds with clients rather than about property. For example, before a house viewing last week an existing client questioned me re whether the euro was going to collapse and would Spain need a Greek-style bail-out. I tried to explain that I thought the situation was similar in Spain to the UK. Certainly houses in the town of Vejer, and indeed in many other areas of Spain, offer extremely good value for money. At least an investment in “bricks and mortar” is safe whereas the same cannot be said for savings accounts, pension plans, stocks and shares (unless you bet on them going down) or other bank-related investments. Not long after this discussion with my client amazingly the UK economy double dipped into recession, the same as Spain. I don’t think it would take an economic genius to have have warned the Tory Chancellor that this was inevitable given the savage cuts and lack of government investment in job creation and government support of induatry. So now hopefully the media will lay off Spain for a while!!

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