Now is the best time to buy a second-home in the countries which are in a worse situation due to the crisis in the EU. It could sound like we were talking like crows waiting for the last breath of who are agonize, but it could be a good deal for these countries’ economy.
The market which I know the most is the Spanish market as I worked in the construction sector for more than 15 years. But as I was reading the article and adding my previous knowledge of the sector, I realized that all the countries have almost the same structure and market, and more surprisingly the same way to take advantage of the foreigners who wanted to buy a second-home.
The article shows the major point of the market, the most popular among second-home buyers from north Europe and also among natives, sun and beach. The closer to the sea the property is the much you can ask for it. Now you can watch on TV a lot of news about the oversupply in the housing market; banks and owners want to get rid of properties which sometimes are driving them to the bankruptcy. So, we have offer and demand. Why they cannot match?
The economic situation is not the best right now, this is one point; bureaucracy is another problem along with taxes and mistrust. The last one is one that we have got by cheating costumers. What we do not realize is that a cheated costumer are actually, a thousand of lost costumers, we do not need more bad press abroad that we already have.
We should open up our housing market to the exterior and try to find new investors. It is not only a matter of the housing market, the sort of people who come to spend their holidays are also people who spend money in other services. It might be very good for some regions, although it is not the best way to develop a country but we have to take advantage of what we have and step up the investments there to fix a regular market in that sector.
It is not good for the country if the government only focus its attention to the holiday market; in fact it is a sign of weakness, poorness and dependency of the others. The government must manage the resources that it has the best way possible and it could get wealth from the second-housing market, but the government should not forget that the development of the country has to move forward not sideways. And also the citizens should not be dazzled of the glow of the big and easy money from beyond our border, we must force the government to invest money and effort in other sectors in the country; public education and public health are the most important foundations of the future, if we want a bright future we need bright people and for that we must seed knowledge before harvest the country’s profits.
This post is based in the following article: http://fores.blogs.uv.es/2011/10/03/04-europe-on-sale/