Villa Surveyors Blog
We won't treat you like a sheep!
Many commentators are always talking up the market. Read our articles, do some additional research, and make up your own mind.
El País, 24th February 2006.
Back in 2006, Stan Dickens was one of the very few people talking about the possibility of a fall in house prices in Spain. Here's an excerpt from the English translation of the El País article, shown above, from 24th February 2006: "Very few people in Spain are prepared to acknowledge, there even exists the possibility that house prices could fall, despite the increasing evidence. Stan Dickens, Chairman of the Royal Institution of Chartered Surveyors in Spain, turns out to be very blunt about the risk, and highlights the period of negative equity experienced by many borrowers in the UK at the end of the 1990's. ... In his judgement, Spain is at risk of suffering the same fate, following a 100% price increase since 1998."
The Spanish residential property market began to crash just over a year after Stan's warning in 2006. Many commentators criticised Stan's views at the time, and were still denying that there was a property bubble, even as late as 2009. See the link to Wikipedia on the Spanish property bubble.