No joke. Scanned from the SUR newspaper published on 24JUN2007.
Then I am absolutely gobsmacked. I expected a fall but not such a rapid one. Are there any other instances of this or is it an isolated case and special circumstances, with the company for example?
Mike – I think the ‘special circumstances’ may well be something called ‘Panic’.
But not as much a panic as I originally imagined, Charlie. With my rusty Spanish I confused “ahorro” with “ahora”. I thought the discount was the price. 🙄
I agree with Pablo, the current prices even with the discount will look cheap in a year. The IMF descriibe a 14% drop in prices as a crash, it looks like we’re going to witness complete devastation.
Maybe the name Aifos will be kept for doing the bucket-deals and Activa Homes will be their prestigious ‘front’ with properties kept at top-dollar prices? They’re bound to catch a few unsuspecting fish who end up paying the original price.
Unless the discounted appt. is round the back in the basement…..
Doing a search through the AIFOS property website: http://www.aifos.com/EN/index.cfm
for all “discounts this month” (no search criteria entered in order to bring up all available) revealed somewhere in excess of 150(?) properties (I gave up counting after I’d reached 60) by the look of it across every one of their developments.
The discounts range from hefty price drops (as per your photograph) through to more modest.
Looking at the images of these developments, I don’t think I’d want any of them even if they gave them away, concrete jungles. Spain has shot itself in the foot with this type of gross overdevelopment as well as property corruption.
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