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Simeon Mitropolitski is a Canadian analyst, of Bulgarian origin, and a former syndicated columnist with the Bulgarian News Agency (BTA). He is the author of several hundred articles dealing with hot political and economic topics, both national and international.
He was part of the first group of Bulgarian intellectuals and students that began the opposition movement that finally put an end to the communist regime in this country in 1989, and in 1996-1997 participated in international observation teams during the elections in several Balkan countries - Romania, Albania and Bulgaria.
In 2002 Simeon and his family moved from Bulgaria to Canada where they live now in Montreal, province of Quebec. Simeon is a Master of Political Science from McGill University and a B.A. of Political Science and History.
Global Real Estate Project
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Spain: Unorthodox measures to save the market
To be perfectly honest, the problems on the Spanish real estate market don't begin with this week's mini-crash. Since 2003, the real estate market is gradually cooling down. During that year, the net positive return of the real estate, if we eliminate the general inflation factor, was at least 15 percent. Between 2003 and the early 2007, this net return has been falling to barely 2-3 percent. Thus, the initial question instead of being whether Spanish market is on the verge of crash after decades of boom, should rather be whether the ongoing slowdown will bring the real estate on track with entire economy, or will the real estate temporarily suffer from a depression? Answering this question requires looking at Spain as both domestic and international market. As a domestic market, it's already long time ago over-heated, over-saturated, over-constructed, and over-indebted. Nothing short of a miracle, defying the laws of the physics is that it has been moving up until recently. A rich nation with almost entire population living in owned residences, a nation with slim population growth and birth rates. What so many people were still buying until recently? On the other hand, however, Spain is an international market, more than that, one of the principal international markets, at least in Europe. Spain is still considered as sparsely populated, even with more than 40 million inhabitants. Coastlines are already full or almost, but the interior still offers plenty of affordable investment opportunities. Unlike some competitors of Spain in Eastern Europe, in this country the distances aren't a big obstacle given the excellent transportation infrastructure. The only obstacle may come from falling down returns, but this shouldn't be a problem for those looking only for more sunny days in the year.
Spain country profile: --------------------
See also the directory of companies providing real estate services in, and general real estate information of Spain.
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