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Mi casa, su casa.

Friday 19th Jul 2019

Mi casa, su casa.

Ok I get it...reading a newsletter that claims to be about property yet the author is swanning around Spain sipping on vino and feasting on pintxos can get tiring, I promise it all ends soon (but seriously...get to San Sebastián).

For avid fans of hypocrisy the good news is that next week I will likely be writing about exercise, fasting and how people who need to drink wine to have fun are boring (and real estate of course).

Having zoomed out for a couple of weeks one thing I have been monitoring is the enquiry into our office from buyers and sellers and based on this I think I have a good sense of what lies ahead. Markets tend to be a see-saw of fear and greed and the fear in ours seems to be fading. Buyers are more urgent and sellers more confident. Hard to believe huh? Prices are just ridiculous...who can afford to buy? The answer: lots of people can...having been on a mini world tour I can confirm that real estate is expensive pretty much everywhere...especially when by the sea.

A small two bedroom apartment in Getaria in Spain with no parking is €500,000. That’s approx $800,000AUD. Getaria is a quaint fishing village with great food and terrible parking. The north of Italy is the same, Dublin isn’t far behind...now rapidly recovering from the near slaughter of the Celtic Tiger.

So what’s the rub? Convenience, access to great food and the old briny have universal appeal...sounds just like home.

Until next week,

David Murphy