Spain Explained

The meaning of Ábaco

Last updated on September 13th, 2019 at 09:11 am.

Learning another language isn’t easy. There are all those verbs to learn, tenses to navigate, masculine and feminine to commit to memory and many words that sound so similar but one wrong vowel and it could change the whole meaning.

So any little help along the way is good. One of the best ways of remembering vocabulary is if you can associate it with something else. That’s why we thought we’d point out that Ábaco does in fact mean abacus. As a firm specialising in legal and tax matters, it’s quite a fitting title that we thought might be memorable for our clients.

Ábaco have now been in existence since 1999. A lot has changed since then. Not only in terms of the size and scope of Ábaco but also the economic sitution in Spain. Our firm has seen the rise and stumble (we’re always optimistic) of the construction industry. Stories still abound of the hectic days of multiple visits to the notary and signings galore.

It’s a very different environment now, but not all is for the worse. The slow down in the pace of purchase and the power to the buyer means that buying a house in Spain is now a much more considered and cautious activity. People expect to get value for money and although sellers might feel there’s a huge expectation of wanting something for nothing, it was time that the balance between buyer and seller was addressed.

With the benefit of time we can all look back on the heydays when the money was made and lost but it’s not always with a sense of regret. They were times that encouraged the worst in some people and greed took over. We are seeing the outcome of that on a daily basis as new allegations of corruption emerge. All nationalities were involved and it’s important to remember that.

Now, nearly 15 years later, we can reflect on the changes in the market that Ábaco has seen. The rush from some countries, such as the UK, has definitely slowed but we still have a steady interest in homes in the sun. In the meantime markets in other parts of the world have blossomed. Our Scandinivian and Russian departments are very busy.

We have seen a steady increase in the need for other services from those people buying during the boom time. They are savvy expats who are settled and want to make the most of their Spanish experience. The crisis isn’t over and Ábaco will continue to adapt, as we all must, to the changes it brings.  

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