[Anonymous]

I have just readed this two interesting news:

Major of Alicante leaves from his role:

http://www.elpais.com/articulo/espana/Alperi/dimite/alcalde/Alicante/deja/edil/urbanismo/frente/elpepuesp/20080911elpepunac_11/Tes

5 executives of Riviera Invest jailed before getting a private jet to Morocco trying to escape justice.

http://www.elmundo.es/elmundo/2008/09/11/valencia/1221148536.html

Casuality?

😯

[Anonymous]

I forgot to tell that the executives has been caught in Alicante.

[Anonymous]

A description of the scam done by Riviera Coast Invest S. L.

http://www.laverdad.es/murcia/20080911/sociedad/estafa-inmobiliaria-alicante-detenidos-200809112022.html

They offered appartments for about 37.000 euros with a 7% of rentability with a renting to students and retired people.

All was false and clients lost their money and also some of the builders hired by them.

I remember to see the advertise of this company in the LA VERDAD DE MURCIA newspaper offering students appartments for about 37.000 euros and the mentioned renting rentability.

I hope that not british has been caught by this company and I blame my country.

[Anonymous]

A real scam:

http://www.residencialulyss.es/

[Anonymous]

incredible peter. Assuming that the crash continues in spanish property then we face another 4 years of people staying away from buying property. We face seeing prices go down another 40% (or thereabouts). Then at some point in the future when this is all over they have the job of trying to restore confidence in the property debvelopment business. How do they do that without sweeping changes to the law to offer better protection to the buyer?
If they don’t sort this out then we may find that spain gets left behind and one of the other mediterranean countries steps in and takes the business away from spain.

[Author]

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