How will the possible demise of the Euro affect property prices?

[Nick]

Hi everyone

As thread title really. For us owners in Mallorca, how will we be affected?

Basically, will it be good, bad or indifferent?!

 

[Gommar Goffer]

If they go back to the peseta you will certainly feel alot richer with all those noughts on the end!!

 

[Smiddy]

property prices

Who knows? But i was reading a article (SundayTimes) re the Greece situation, they reckon if they went back to the drachma some properties would halve overnight

 

[Nick]

The above would be my worst fear. Can't imagine it wil be good ?

 

[cumberland8]

Also in an attempt to get more money into the country the Spanish Authorities are in talks to agree a `full disclosure`with the German tax authority's which means an awful lot of Germans will be forced to sell up on the Island, although there is normally an amnesty period to settle up.This would be absolutely devastating.

 

[juliec]

Euro collapse would lead to a massive
drop in prices in Mallorca
Great for some
The end for others

 

[Smiddy]

Also in an attempt to get more money into the country the Spanish Authorities are in talks to agree a `full disclosure`with the German tax authority's which means an awful lot of Germans will be forced to sell up on the Island, although there is normally an amnesty period to settle up.This would be absolutely devastating.

IF! property prices are going to be affected it would only be a problem if the owners decided to sell. Anyway, back to my glass is half full, let's see what happens.

 

[cumberland8]

For many years Spain has ,shall we say, kept quiet, over property details owned by German citizens for obvious reasons.
Approximately 8 years ago they agreed a partial disclosure which led to hundreds of our compatriots selling up on the Island , it will be very interesting to see if this agreement goes ahead what happens.