- This topic has 11 replies, 8 voices, and was last updated 16 years, 3 months ago by
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I guess the 7 fat ones have gone grazing elsewhere, the 7 skinny ones are waiting for the Armageddon.
Not encouraging news.
“From 2001 to 2007 Spain built more than 29.2 percent of new homes in the European Union in a country that represents only 11 percent of the EU population. The boom led to an excess supply “never before seen in any western economy,” Acuna said.”
http://www.bloomberg.com/apps/news?pid=20601206&sid=a9JK9sWF_mOQ&refer=
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where were Acuna between 2001-7 “asleep”? along with all the so called financial experts and analysts in the build up to these problems. Banks, Governments, Central Banks, financial firms and experts, where was the advise to lend cautiously, construct conservativly etc. etc. the problems were staring them in the face and no one acted. Sorry but dont put all the blame at the feet of greedy estate agents and developers 👿 👿
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ralita wrote:“I think sooner or later they will realise that they need to demolish a significant number of the excess properties.”
If they do it with a resort which is 50% sold, what are they going to do with the people who paid for the apartments? Pay them 5000 Euro to go away?
I think a novel way has been found to empty more urbanisations. Iberdrola is owed money by a developer , so what does Iberola do? It cuts off the electricity supply to 250 villas in an urbanisation developed by the aforementioned developer. I understand people have been living in this development for several years .
Will Spain ever learn ,bad publicity like this will not help it to regain its position as nº1 foreign country for purchasing property, when the good times come.?
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“I think a novel way has been found to empty more urbanisations. Iberdrola is owed money by a developer , so what does Iberola do? It cuts off the electricity supply to 250 villas in an urbanisation developed by the aforementioned developer. I understand people have been living in this development for several years .”
If they cut the electricity people will buy electric generators (or install solar panels). If they cut the water, people will dig wells or haul water.
If they do not provide sewage, people will make their own.I do not see how they can make people leave their homes, unless Franco is reborn or Hitler or Ceausescu reincarnated.
About “good times”, the article mentions 7 bad years, which might be followed by other 7 lukewarm years. So “good times” might come around
2022-2023… -
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Mark, I am trying to locate an article on Spanish TV that implied a steady increase in city professionals leaving Madrid and Barcelona to buy in the cheaper southern inland areas.
My region, Murcia was mentioned and the new airport was cited as the, or one of the main reasons for the interest in relocation, along with owning a larger property for their money.
My own property is on the market and I have it with a couple of Spanish agents in Cartagena and Murcia, in the past 2 months there have been 4 people viewing, 3 from Barcelona and 1 from Madrid. I have not had buyers looking from as far north before but this does in a loose way confirm the report to a degree.
Have you seen this TV report? I suspect it was on national and not Murcia TV, the problem was I was on the telephone at the time and several individuals were channel hopping.
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@135yearswaiting wrote:
@ralita wrote:
“I think sooner or later they will realise that they need to demolish a significant number of the excess properties.”
If they do it with a resort which is 50% sold, what are they going to do with the people who paid for the apartments? Pay them 5000 Euro to go away?
I think a novel way has been found to empty more urbanisations. Iberdrola is owed money by a developer , so what does Iberola do? It cuts off the electricity supply to 250 villas in an urbanisation developed by the aforementioned developer. I understand people have been living in this development for several years .
Will Spain ever learn ,bad publicity like this will not help it to regain its position as nº1 foreign country for purchasing property, when the good times come.?
From my understanding it was only the electricity to the street lighting which was disconected, I beleive that the local town hall had a large bond held against the developer and has used this money to discarge the Iberdrola debt and all is now restored.
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I wonder how well this money will be spent.
http://www.typicallyspanish.com/news/publish/article_16933.shtml
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Yet they are very quick to tell the EU they have no right to interfere with internal matters such as Land Grab.
Why don’t the EU say no more funds until this breach of human rights is addressed? Goodness knows the petition addressed to the EU signed by 35,000 or so surely means something.
Or were Michael Cashman’s trips really all for nothing?
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