Council of Lorca (Murcia) near bankrupcy

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This topic contains 8 replies, has 3 voices, and was last updated by Profile photo of Anonymous Anonymous 9 years, 2 months ago.

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  • #53208
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    Anonymous
    Participant

    Article published in EL PAIS newspaper:

    http://www.elpais.com/articulo/espana/Lorca/bancarrota/convenios/firmados/ex/alcalde/socialista/elpepuesp/20071002elpepinac_14/Tes

    The former major of Lorca (Miguel Navarro) aprobed the construction of new 140.000 homes (the majority villas for brits of course) in a city of 80.000 habitans. The council received 23 millions of euros as an anticipation for the deal despite some irregular facts like that the properties would be in protected areas of Lorca.

    Now that the market is dead the actual council is preparing the great new that the council will have to return the money to the developers. The excuse will be that the former major delayed to much the papers and licenses but the true reality is that all the new big resorts are stopped across the country due to the well-know finance throubles.

    If the council has to return this money actually wasted it will be in a serious problem and will need the help of Valcarcel.

    One example of the actual crisis in the property market at Lorca is the Lorca Resoft Golf&Spa Resort that was being built between Lorca and Aguilas but just now is simply a great piece of land very deteriorated by the construction machines.

  • #75425
    Profile photo of Melosine
    Melosine
    Participant

    Interesting read peterparra but surely Lorca City has far more than 80,000 inhabitants and is compactly built already so where I wonder were these 140,000 other properties going because outside of the actual city one requires a minimum of 5,000 sq.m.
    Couldn’t find where it stated was for the British market. Is this insider knowledge ? Hope it is not true otherwise more than doubling the local population with Brit’s is going to ruin this beautiful Spanish area.

  • #75427
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    Anonymous
    Participant

    Hi Melouise. I consider you one of our neighbours so you are a lorquina like me ;-).

    Why do I state that the new properties will be for brits? Because actually brits are the only who can afford to buy a home here. Building for locals is a bad business because there is not a lot of clients with money around.

  • #75429
    Profile photo of Melosine
    Melosine
    Participant

    Am a Lorquina now and a very happy one too.
    In the 3 years since we have been associated with the village of Purias we are the only Brits who have built here. All the others have been , and still are , Spanish and by the size and infrastructure of their properties very very wealthy ones as well . Plus believe all the breathtaking new dwellings we have seen around the area of the Park in Lorca are also for local Spanish people .But then like our neighbour, who hopes to build 4 for his children, the families probably already owned the land.
    So that was why I wondered where in the Lorca area this enormous housing estate was going to be. .
    Am aware since a change of political parties here all planning submissions are undergoing great scrutiny.

  • #75437
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    Anonymous
    Participant

    Dear Melosine,

    Probably you dont know this but Lorca is one of the biggests councils of europe (in land proportions) and in the north there is a huge area where some developments where planned. In the direction to Caravaca.

    About the wealth of people here, dont get confused asking mortgages with wealth. The medium salary here is about 1000 euros/month and actually the higher salaries are in the property development and self employment in that area.

    Also the majority of the big houses developed by locals here is in own land so this reduce half the final price.

  • #75439
    Profile photo of mike
    mike
    Participant

    @peterparra wrote:

    Lorca is one of the biggests councils of europe (in land proportions) and in the north there is a huge area where some developments where planned. In the direction to Caravaca.

    Is that literally translated as Cowface?

    @peterparra wrote:

    About the wealth of people here, dont get confused asking mortgages with wealth. The medium salary here is about 1000 euros/month and actually the higher salaries are in the property development and self employment in that area.

    So the larger area does not have a significant foreign population but they decided to develop in the hope that “build it and they will come”, perhaps?

    And recently they have decided that they might not come after all?

  • #75443
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    Anonymous
    Participant

    CowFace?

    Yes, it is! But not exatly. The city name is “Caravaca de la Cruz”. It is also famous for the “Cruz of Caravaca”.

    Cruz is a cross (a religious cross). This cross has a particular design original from Caravaca de la Cruz.

    About the new population.

    When the developers plan new resorts they dont think about services and infraestructures for the new population. They only think in the money they will get so they bridge the people they need if needed.

    Later when the homes are built and the people arrive comes the infraestructure problems like lack of sanitary staff, hospitals, schools, roads, water supply, etc.

    Luckily this huge disgrace has been stopped here in Lorca thank you for the actual finance crisis. In fact Lorca is actually the city of Murcia with less second home development in the Region.

  • #75446
    Profile photo of Melosine
    Melosine
    Participant

    Agree peterparra Lorca area is fortunately not an area for 2nd homes but in order to compete ,even a little with the rest of Spain , believe the golf course will happen….some day.
    Using your info found a web site offering 2nd homes in the mountain area of Caravaca.
    According to the agent Caravaca de la Cruz is only a “stones throw” from Murcia !!!!
    So my next question is….
    …….how many people do we know who can throw stones 75 km?
    On this evidence of sales pitch think it is a wise decision to abort even if it costs us all more money to live here.

  • #75447
    Profile photo of Anonymous
    Anonymous
    Participant

    Dear Melosine,

    In a pair of years a new highway is planned to be developed from Lorca to Caravaca de La Cruz. We will use this when going to Madrid direction.

    Perhaps the developers thought in a future improvement of communications like this, but I would never buy nothing there because is a place where I have lost nothing. Also I like to be not less than 30 min from the beach!

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