Re: Re: Luxury golf resort becomes social housing project

#116670

logan
Participant

Mark wrote a piece about this golf resort back in 2010. The British buyers were suing the developer alleging breach of contract.
I guess it’s still going through the courts knowing the speed of Spanish justice if there is such a thing.

Any updates please Mark?

https://www.spanishpropertyinsight.com/2010/04/30/british-buyers-take-legal-action-against-developer-of-corvera-golf-and-country-club-in-murcia/

I’m told you can buy an apartment there now for €30k. Hardly surprising given this latest news.

This project in Corvera, Murcia is only the tip of an iceberg. Read this link which allows you to download a pdf file which lists all the social housing projects created from repossessed property currently available in Spain. This is a serious development for any prospective buyer investing in Spanish property. You cannot guarantee the development you buy into now will not become a future social council estate with all the negativity that brings.

https://www.grupbancsabadell.com/en/XTD/INDEX/?url=https://www.grupbancsabadell.com/en/RSC/FONDO_SOCIAL_DE_VIVIENDAS/?menuid=72578&language=en