Public prosecutor goes after Aifos owners
Things have been going downhill for the notorious Spanish developer Aifos ever since its bosses were arrested and charged for bribery in the ‘Malaya’ police operation into municipal graft in Marbella in July 2006. After 3 years of declining business the company has just been forced to seek protection from its creditors, with 1 billion [...]
Mayor of Marbella challenges Seville to extend amnesty to all illegal homes
No demolitions whatsoever of occupied homes, no matter how illegal. That was the campaign promise of María Ángeles Muñoz, the lady mayor of Marbella, and it is a promise she appears to be sticking to as she turns up the pressure on the regional government in Seville to rule out demolitions in Marbella’s new town-plan, [...]
Martinsa-Fadesa clients paying for nonexistent homes
A consumer group has criticised the Spanish developer Martinsa-Fadesa, currently under court administration, for obliging around 1,000 clients to carry on making stage payments for properties that have never been built.
Rental prices down 10pc
The glut of homes for sale is weighing down heavily on the rental market, latest figures confirm. Average rental prices in Spain fell by 9.8% over 12 months to the end of June, according to figures published by the real estate portals Facilisimo and Idealista. As a result, the average rent for a flat of [...]
Aifos seeks protection from its creditors
The notorious Spanish developer Aifos has been forced to seek protection from its creditors, the Spanish press reports today. This is the first step of proceedings that often lead to bankruptcy and liquidation.
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