When will the Penny drop with some Developers

[Anonymous]

The selling point is that it is in front of El Corte Ingles!!

http://tinyurl.com/35dhuc8

Now for that sort of price you can buy a nice detached 3 (or 4) bed within 30 minutes commute into central london.

Your opportunities here are El Corte Ingles shop assistant or vegetable picker!

[Anonymous]

@jp1 wrote:

The selling point is that it is in front of El Corte Ingles!!

http://tinyurl.com/35dhuc8

Now for that sort of price you can buy a nice detached 3 (or 4) bed within 30 minutes commute into central london.

Your opportunities here are El Corte Ingles shop assistant or vegetable picker!

i can drive into town in half an hour from my 4 bed house and the one 2 doors up recently sold for £245,000 it needed a refurb but would only be £295,000 if immaculate,i know which one i would rather have

[Anonymous]

Let’s make it clear what we’re talking about.

Penthouse flat in El Ejido, €400,00

Where do I sign?

[Anonymous]

Ejida is possibly the ugliest place on the planet; it’s mayor has also been charged with major planning fraud …. Almeria has the highest number of multi millionaires in Spain – all veg and fruit related

[katy]

So true. Paying the Morroccans and other Africans 4 euro an hour to work in their chemical ridden glasshouses helps. As does the EU subsidies for which they always manage to fiddle the figures. Truly is the asshole of europe. Would have thought even the locals would give those blocks a thumbs down though!

[adiep]

Insanity, close to half a million Euros. Seriously, how many people do we all know who earn over 100k a year which I presume is the right salary for a 400k mortgage.

There’s tons of these places, up to half a million. I think this is a part of the “no market” theory, the one that states if you dont sell, you cant lose money.

[Anonymous]

@adiep wrote:

……how many people do we all know who earn over 100k a year which I presume is the right salary for a 400k mortgage.

And of those who earn over 100k, how many would feel a place like that is ‘their cup of tea’ anyway?

[angie]

It looks bloody awful, they must be on another planet to think they are worth that amount. There are many similar disasters in Spain, what amazes me, is that Developers and some agents actually try to sell them with such gusto as ‘desirable’ properties in ‘excellent’ locations.

[Chris M]

Even I can’t defend this, or see anything remotely positive in it.

It is just appalling, truly appalling.

[angie]

We agree Chris 😉

I think this is one development where the bulldozers would be very welcome! Let’s hope it’s illegal!

[adiep]

Why knock em down, just knock em out cheap. These properties can help stimulate the economy of Spain, if only theyd accept theyre not worth 50% of what they think they are.

[Anonymous]

This style of buildings were popular during or just after Franco era i.e high rise, close to one another. This is construction’s pile them high & sell them cheap.

People bought them as they were cheap, mortgage were not easily available & were expensive. However, today’s prices cannot justify this type of construction or style.

[adiep]

One has to wonder at the greed in Spain. They have huge amounts of land a low population, yet they persist in cramming people into apartments rather than building houses with gardens.

Pure greed.

[peterhun]

Why knock em down, just knock em out cheap. These properties can help stimulate the economy of Spain, if only theyd accept theyre not worth 50% of what they think they are.

50%? Knock off 75% and still they would be out of the league of the vast majority of potential buyers.

[Anonymous]

“One has to wonder at the greed in Spain. They have huge amounts of land a low population, yet they persist in cramming people into apartments rather than building houses with gardens”.

People in Spain, Italy, France etc prefer to live in the centre where they can walk to places and not to have to take on gardening as a pre or post retirement activity.

They prefer to go out of the city or to the Parks & Squares. Well to do have properties in the Country side, on the beaches or in the mountains.

Their mind set is very different from an UK buyer. They prefer to spend time with family and friends & not get involved in a solitary activity like gardening.

[Author]

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