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Anyone thinking of buying property in Marbella (and the Western Costa del Sol in general for that matter) should read yesterday’s Sunday Times article on the scandals / swindles presently blighting the market in that area.
The article can be ready here: http://www.timesonline.co.uk/article/0,,2087-1582327,00.html
The problems are very real but at the same time they need to be put into perspective. For a start they don’t affect the vast majority of buyers, though that will be no comfort to the innocent buyers who have been caught up in these scandals. The problems shouldn’t put you off buying on the Costa del Sol but they should make your realise that precautions are required and that you have to be very careful about how you buy and who you buy from. I’ve always been astonished at the blasé way in which many foreigners buy property in Spain, and less astonished when the scandals emerge.
Have a look at the Spanish Property Insight off-plan buyer’s guide just published online. It should help you understand where the risks lie and how to avoid them.
http://www.spanishpropertyinsight.com/spanish_property_off_plan_property_spain.htmMark
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Hi Mark
Have just read the article with interest as there is someone I know who is caught up in this ‘frozen’ money problem in the Alcadeisa development marketed by the agent whose name constantly crops up in any article re mis-selling. Since this agent was also recommending Del Valle as lawyers and promoted the Development as an exclusive of theirs, what are the chances of purchasers claiming back their stage payments directly from
the Estate Agent? Failing that maybe the agents should offer to switch these purchasers to other Developments at the very least, or do ‘pigs actually fly’?Paul
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