Spain made it to number 2!

This topic contains 4 replies, has 5 voices, and was last updated by  katy 10 years, 4 months ago.

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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
    Spectator

    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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