What is going on these days. The Euro goes down, The pound seems to go up a bit. At least it does against the euro! The new British government takes measures. Spain cuts salarys of all workers in public service!
How does this all effect the value of my real estate in Torremolinos. Is the price of my property going down or up? Is it smart to buy a house or an appartment now?
The truth is..... Nobody knows! The pound going up against the euro is good ofcourse, specially for property on the Costa del Sol. But will it last? Nobody knows. Don´t forget that the Uk is having for example a deficit and national debt like Spain. Even higher! So what will that do with the pound on a long term? That´s very important specially if you decide to live in Torremolinos and have an british income.
The salary cut that the Spanish governmentgave top everybody working in public service doesn´t help the housing market in anyway.
Free advice: The financial and economic markets are very instable, so wait a bit and see how it develops. You can always rent a property in Torremolinos for the time being. rentals are cheap at the moment!!!