Claire Wilson
DEMAND for Spanish property could rocket if sub-orbital space travel takes off, according to an expert.
Mark Schtuklin, author of the Sunday Times column The Spanish Property Doctor, said if the advanced method of travel became a reality, the real estate market could go through a boom.
“Increased access to beautiful places like Spain nearly always drives up demand for real estate,” he said. He likened sub-orbital space travel, where craft reach supersonic speeds during a brief launch into space, to advances such as fast trains and low cost air travel.
“Changing technology like fast trains, or new business models like low cost air travel have helped lift the demand curve. If sub-?orbital space travel becomes a reality, and not just limited to billionaires, then I imagine it would increase demand for high-end property in Spain. However, I can’t see it happening anytime soon.”
His comments follow the release of the 2014 Wealth Report by estate agent Knight Frank, which predicted a radical shift in real estate markets across the globe if sub-orbital flights were to become more readily available.
Sub-orbital flights are able to cut the London to Sydney journey time down from 21 hours in an aircraft to 2.2 hours, New York to Moscow from 9 hours 20 minutes to just one hour, and San Francisco to Singapore from 16 hours 50 minutes to 1.8 hours.
Liam Bailey, Knight Frank’s Global Head of Residential Research, says: “By traveling outside the Earth’s atmosphere, gravitational forces will allow spacecraft to travel at over 4,000 miles per hour, so breakfast in Mayfair could easily be followed by lunch overlooking Sydney Opera House.
“It doesn’t take much imagination to see the dramatic impact this innovation could have on global luxury property markets.”
London is currently the leading overseas property destination over New York because it is more convenient for African, Middle Eastern, Russian and European Ultra High Net Worth Individuals. But with the advent of sub-orbital travel all that could change within a decade.
“Take second homes in Europe. Right now, demand is mainly restricted to European investors, who try to limit their travel to less than two hours,” added Mr Bailey. “In future, that same time limit could allow Chinese or Indian investors to pop over for the weekend to visit their Tuscan farmhouse.”
Daft article of the year award contender.
Getting more desperate by the minute. By the time this is viable, the Junta de Andalucia will probably have reached the end of their project and demolished a load more houses.
If Spain (Andalucia in particular) can create a workable and reliable property market/legal system they will not need sub orbital travel.
Investor confidence is what is needed and this will not happen unless and until the lunatics at the Junta de Andalucia stop demolishing houses and giving Spain a bad reputation. Call an immediate amnesty.
Does anyone really imagine that this (somewhat dubious forecast) will have any effect on the cuckoo land policies in which we are immersed….Dream on Mr Schtuklin.
Mark Stücklin wrote ONE article for the Sunday Times in 2005 – and in the absolutely strictest definition of the phrase, this qualifies him to be described as “author of Sunday Times column…”.
It doesn’t make him an expert, though. Just a very optimistic man.
NO WAY!!!
That kind of fast travel would merely urge more Europeans to sell in overcrowded and polluted Europe and enter markets like Australia or South America. Places which are still in their natural state.
Don’t count on the Indians and Chinese… they would do the same thing… Canada and Australia are on their “MUST-HAVE” list… not Spain!
In the beginning Mark Stucklin ran a useful unbiased website to help those thinking of buying in Spain, Sunday Times removed him as Spanish property doctor when the crash came. Now in desperation his site which is viewed by very few, has gone commercial mad, he derives his income mainly from advertisers including the usual spiel merchants so it is no longer unbiased, pity really, money rules what he publishes.
Can somebody tell me what qualifications you need to be a ‘Spanish Property Expert?’ is there an MBA, PhD etc?
I’ve flown at twice the speed of sound, 11 miles high, seen the curvature of the earth, know what it feels like to be in London at 19:00 and arrive in NY at 17:30.
At this moment in time I will not be purchasing any property in Spain even if they put a Concorde there. A chaotic, messy and low class country with limited property rights.
“Can somebody tell me what qualifications you need to be a ‘Spanish Property Expert?’”
Er, none. Sign here.
Love it Fred and Robert, but you forgot the all important qualifications of a bit ‘fly’, wide boy, ex furniture sales experience, fishmonger, pub landlord, and even Doctor of Spanish Property, above all be prepared to mislead trusting people.
This article gives the impression I’m going around saying sub-orbital space travel is about to boost the Spanish property market. Let me assure readers that is not the case. I was asked for an opinion on this story, and my opinion is I can’t see it happening anytime soon.
Tim, you say I only wrote ONE column for the Sunday Times, in 2005. For the record I wrote 25 columns for the Sunday Times between 2005 and 2008, and various other features.
Scambuster you have made a some unkind and false claims about me so I’ll respond to them.
1) You claim my site is “viewed by very few.” How would you know? The truth is I get tens of thousands of visitors to my website every month. That’s nothing to boast about, but your claim is unfair.
2) You say my site has gone “commercial mad”. The truth is I have fewer ads now than at anytime since I started a decade ago. I have lost advertisers who complained my content was too negative.
3) You claim I derive my income mainly from advertising? How would you know? The truth is I get a small part of my income from advertising.
4) If money rules what I publish, then my paymasters are getting a terrible deal with all the gloomy news I report.
I follow EOS so I know you have been the victim of sharp practises, and I admire the way you have fought your corner. However, you do me an injustice to lump me in with the sales sharks.
In more than a decade running SPI I’ve had almost nothing but positive feedback, and my articles have helped hundreds, if not thousands of people to avoid expensive mistakes. Just because I’ve been reporting some better news of late, it doesn’t mean I’m trying to mislead anyone, nor give you the right to slander me.
Mr Stucklin, First I will say I have not slandered you, what I’ve said is reporting based on watching your site and following your comments. Answers below:
Point 1. You site has few regular posters now compared to previous years, may posters left because of the rosy glasses brigade and those who had a commercially led vested interest.
Point 2.I stand by my claim that your site has gone commercial mad of late, that’s an observation not slander.
Point 3. Read what you’ve said here:
“www.thelocal.es/20130311/the-job-situation-in-spain-is-complicated-at-the-moment”
Quote ‘The money I make from the site comes through advertising, mostly from Spanish real estate agents’
You were also asked ‘Are you involved in property sales too?’ You answered ‘Indirectly,yes etc etc ‘property consulting. In my case I help Spanish developers & banks to find buyers’ New quote ‘Many of my clients have been laid low’ (Agents and Developers) 11/03/13
You have often said’prices to rise next year’ have occasionally had so called experts claiming the market has turned and now is the time to buy. Had buyers believed this 2,3,4,5, years ago they would by now be nursing substantial losses yet your site is supposed to help buyers through the maze of problems buying in Spain.
Are you still the Sunday Times’ Spanish Property Doctor? I don’t think so.
Finally check where I have ‘lumped you in with the sales sharks’ your words, not mine, what I said in effect was that anyone can be recruited to be a Spanish property expert including those I mentioned.