[Anonymous]

Here’s one agent that’s been a very very naughty boy! 🙁

http://www.telegraph.co.uk/property/main.jhtml?xml=/property/2008/05/24/pspain124.xml

The same paper is offering a one bedroom appt at Las Terrazas de Guajar Alto, for under £40.000. Yes – not a printing error – 40 grand!

http://homesabroad.telegraph.co.uk/propertysearch_details.php?id=11

Surely a high risk purchase unless the development is already completed, as the profit margin must be negligible? 🙄

However, are we likely to see more properties being marketed at these sorts of valuations?

[katy]

The sad story about the Agent using the Telegraph name reminds me of a certain Awful Estates who were using the Jaguar name!

The second piece may be just a catch 😕 Notice it says from . Have seen spanish ads similar and it is only the deposit and the rest on mortgage. If not should be a bargain…if you want a place up in the cold that is 🙂

[Anonymous]

Hi katy,

Yes, I’m sure you’re right. A catch here for sure.

I seem to remember this property being marketed some time ago at much higher valuations. 😕

[Anonymous]

unfortunately this kind of selling continues to ensure that the Spanish estate agents get the reputation that they so richly deserve. It is a shame that the reputable agents are now tarred with the same brush as the cowboys but I guess the industry gets what it deserves. Knowing what we know, would ANYONE risk buying a property that is still being built ? Building developments are folding every day in Spain now. With the crap justice system over here, the brit-buyers will not want to take risks. The real pain has not yet even started. There will be a few more years of builders and estate agents going bust before this mess gets even half sorted. I doubt that the reputation of the Spanish property industry will recover much in a generation.

[Author]

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