Reply To: This forum in 2010 and beyond

#96428
Anonymous
Participant

@GJ wrote:

My first piece of advice to new purchasers from 2010 and beyond would be to check out how is the community is run especially to do with its finances.
I believe that many communities will fail in the not too distant future with disastrous consequences for the owners.

Unsold and unoccupied properties and delinquent payers in many urbanisations is already a problem and most potential buyers are not aware of it.
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Exactly.

Look at USA, there are many communities with 10% owner-occupiers and other properties in decomposing form.

Where I have been in Riviera del Sol , 40% of the owners had community fees debts, some of them had not paid for 18 months or more.

In my opinion, the best is to buy either in a detached property (the expensive way) or in a block of flats with no pool or gardens with Spanish owners(the cheaper way).