Spanish Property Insight › Forums › Spanish Property Forums › Spanish Real Estate Chatter › Luxury golf resort becomes social housing project › Re: Re: Luxury golf resort becomes social housing project
The Spanish government has declared for some time that it would use some of the million empty homes, mostly owned by them as the developers have gone bust, for social housing. It makes perfect sense.
I still wouldn’t like to be one of the owners who have bought property on such developments, and there are many of them. If Spanish property values have gone down by some 40% anyway, what value can you put on the houses owned by the poor people on that Murcia golf course one?
I doubt if it matters, who on earth would buy one there?