You Thinking about Buying a house in Spain....

  royalflush 19:36 26 Mar 07
Locked

this is incredable for those of you that dont speak Spanish heres what this means
For the average person they need to work 47 years just to pay it off the very BASIC of mortgages & for a house thats no bigger than 100 meters in total....
thinking about moving & getting a mortgage.....do some research first

click here

  anskyber 19:44 26 Mar 07

The link is in Spanish.

  royalflush 19:50 26 Mar 07

anskyber yeah sorry about that but thats why i translated it for ya...47 years to pay off just the most basic home & its FULL meterage from top to bottom is only 100 meters....COSTING 300.000 Euro's are about £180k+

  Stuartli 23:26 26 Mar 07

This is the translation of the web page (hopefully):

click here

  Stuartli 23:27 26 Mar 07

No...:-(

Just copy and paste the above link into the link and select Spanish to English.

  Stuartli 23:28 26 Mar 07

..i.e. royalflush's link...

  Forum Editor 23:46 26 Mar 07

There are major cultural differences between Spain and the UK, and that has a bearing on the subject.

  Friday's Child 02:05 27 Mar 07

To save you doing it, this is the Babelfish translation:

Madrid, 26 sea (EFE). - A person with an average pay would need almost 47 years in paying a house in Spain, a number that lowers until the 24 years when it is a purchase in pair, the most habitual formula.
Madrid, 26 sea (EFE). - A person with an average pay would need almost 47 years in paying a house in Spain, a number that lowers until the 24 years when it is a purchase in pair, the most habitual formula.
It is the main conclusion of the study "Wage half and price of the house" elaborated by the real estate vestibule Facilísimo.com.
The study takes like reference two people whom they have contracted a mortgage, with an average pay from 18,182 euros, and that destine a maximum of the 35 percent of their gross rents to the payment of a house of 100 square meters at the cost of almost 300,000 euros.
This number is removed from the average prices of sale of the houses that announce in the vestibules of the Facilísimo.com group and which the 6.7 percent in 2006 grew, up to 298,628 euros.
Annual the average wage gross is removed from the National Institute of Estadi'stica (INE) and the Tributary Agency, that a 2.7 percent grew, until the 18,182 euros.
The increase in the time necessary to pay a house is generalized in all the independent communities, safe in Andalusia, the Rioja and Castile the Spot, benefitted by the reduction in the price from the house and the ascent from the wages in these communities.
The Catalan pairs are those that more time invest in paying a floor, with an average of 32.74 years, as opposed to the 18 years that a pair in Extremadura dedicates, which they continue being those that less time needs to pay a floor.
The Basque Country repeats in second position, with an average of 30 years, followed of Aragón that reaches the 28.76 years.
Cantabria promotes of the tenth a the fourth place, and locates in 26,34 years the time invested by a pair to pay the mortgage.
Over the average of 23.46 years they are located Balearic, where 25.49 years are needed, followed of Madrid with 25.25 years, Valencian Community with 24.95 years, Andalusia with 24.94 years and Murcia with 23.57 years.
Below the average they are Navarre with 23.12 years, Asturias with 22.82 years, the Canary Islands with 22.87 years, the Rioja with 22.35 years, Galicia with 21.27 years, Castile the Spot with 21.26 years and Castile and Leon with 19.76 years.
The study in addition esteem that if a citizen destined the one hundred percent of his pay to the payment of the mortgage, would need almost 17 years to acquire a house, that would be 21 years if it resided in the Basque Country and 23 years if it did it in Catalonia.

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