Spain made it to number 2!

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    • #54107
      Anonymous
      Participant

      It is just after the North Korean Hotel of Doom Pyramid hotel.

      I am not sure why it did not get to the first place, Spanish property was also a Pyramidal Scheme with lots of money lost….

      http://timesbusiness.typepad.com/money_weblog/2008/06/post.html

    • #84823
      Anonymous
      Participant

      Cant even come no 1.

    • #84833
      Fuengi (Andrew)
      Participant

      2. A place in the sun

      The brochures were too good to be true. Buyers gazed in wonder at those shimmering golf courses – yet to be built; the beautiful beaches – only a short two hour drive away; the lively restaurants and bars – now abandoned; and those glorious villas – mostly unsold.

      Thousands of British ex-pats, wanting to live the dream of eating a full English on their own patio gazing out over the Mediterranean, are facing up to a Spanish property nightmare. Prices have slumped by up to 65 per cent in the last year according to some websites, as the market is struck by a country-wide collapse in house values and massive overdevelopment on the Costa Del Sol. In the most acute cases, Brits who have bought off plan are now stuck with apartments in uncompleted developments they don’t want but can’t sell.

      bolded bits
      2 hours drive from where?
      65%!!!! where?!? or are they incuding idiots who wanted to sell their horrible villa for a 1,000,000€ even though they bought it for 10,000,000pts?
      to date i have not seen a property that is unselable. overpriced yes, unselable no.

    • #84834
      Anonymous
      Participant

      I agree…there was a lot of our money lost….it was lost in the pockets of the “alleged” corrupt developers….and the chain goes on.

    • #84845
      katy
      Blocked

      I too would like to see all these truly reduced properties both in Spain and the UK. They are certainly not in the locations I look at!

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