- This topic has 11 replies, 6 voices, and was last updated 11 years, 11 months ago by
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It is a very similar at Alhaurin Golf too, several unfinished skeletal blocks, cranes, bankrupt Developer. Pity those who bought right opposite these blocks, I cannot ever see them being finished to an acceptable build standard.
ITV News at 10 the other night carried a report about Spain’s Costas property bust, showing Brits desperate to leave but trapped because they can’t sell. One couple listed their house once for 595k euros, were offered 495k apparently but turned it down, and now it’s on for 395k and not getting any viewers.
If the Eurozone/Euro unravels because of a Greek exit all attention will turn to Spain, it’s a nightmare scenario. 🙄 What price property then, in Sterling terms.?
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It is a very similar at Alhaurin Golf too, several unfinished skeletal blocks, cranes, bankrupt Developer. Pity those who bought right opposite these blocks, I cannot ever see them being finished to an acceptable build standard.
ITV News at 10 the other night carried a report about Spain’s Costas property bust, showing Brits desperate to leave but trapped because they can’t sell. One couple listed their house once for 595k euros, were offered 495k apparently but turned it down, and now it’s on for 395k and not getting any viewers.
If the Eurozone/Euro unravels because of a Greek exit all attention will turn to Spain, it’s a nightmare scenario. 🙄 What price property then, in Sterling terms.?
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my friend put down a deposit of £50,000 several years ago and lost it when he failed to complete on the transaction
he was advised that compensation was not worth pursuing even though the completion funds were demanded at a stage when the development was clearly not even nearly finished ie based upon stage payments over time irrespective of building progress
The other calculation was if he did pay the balance and the apartment was finished it was now worth a lot less than the total price of over £300k so walked away with the lesser loss
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my friend put down a deposit of £50,000 several years ago and lost it when he failed to complete on the transaction
he was advised that compensation was not worth pursuing even though the completion funds were demanded at a stage when the development was clearly not even nearly finished ie based upon stage payments over time irrespective of building progress
The other calculation was if he did pay the balance and the apartment was finished it was now worth a lot less than the total price of over £300k so walked away with the lesser loss
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Some interesting comments on golf developments here:
http://www.spanishpropertyinsight.com/buff/2012/09/21/small-increase-in-expat-residents-buying-homes-in-spain/#comments -
@angie wrote:
It is a very similar at Alhaurin Golf too, several unfinished skeletal blocks, cranes, bankrupt Developer. Pity those who bought right opposite these blocks, I cannot ever see them being finished to an acceptable build standard.
ITV News at 10 the other night carried a report about Spain’s Costas property bust, showing Brits desperate to leave but trapped because they can’t sell. One couple listed their house once for 595k euros, were offered 495k apparently but turned it down, and now it’s on for 395k and not getting any viewers.
If the Eurozone/Euro unravels because of a Greek exit all attention will turn to Spain, it’s a nightmare scenario. 🙄 What price property then, in Sterling terms.?
They turned down 495k ???? How delusional can people be?
Sorry, but we’re in the process of selling a 3 bedroom place in the Midlands. We’d like to get more but it looks like being 85k, and at the moment there is no demand in the market… That’s the way it goes. If we could wait a couple of years and fill the place with student tenants, we’d probably get a lot more, but you have to accept the current market conditions. -
Can never understand why some people hold out for the top dollar (euro/pound etc), only to see the market fall faster than they can keep up with it and end up never catching the trend down and get stuck with what is then a stale property.
I’ve always taken the view that if the offer is cash and can proceed quickly even though it’s below asking price, then grab it and move on to next project, after all even a loss can always be made back on the next purchase. Never look back at ‘what if’ ❓
IMO, buying is more important almost than the selling, buy right, hefty discount and sell on with half the discount as profit 😉
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@mark wrote:
Some interesting comments on golf developments here:
http://www.spanishpropertyinsight.com/buff/2012/09/21/small-increase-in-expat-residents-buying-homes-in-spain/#commentsThe poster Mike writes a very good post. Entirely agree. A few of us “negatives” have been saying the same for a long time 😀
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