Re: Re: new players in the market

#91411
zenkarma
Participant

@Chopera wrote:

Buying off plan is attractive to many Spanish people because the payments are manageable and it is easier to get a mortgage.

Erm…

How is it easier for Spanish people to get mortgages for something that hasn’t yet been built when there’s literally millions of properties sitting unsold and on banks books?

I’m sorry, but I just don’t buy any of this nor do I think that this is in any way advantageous to the buyer. It is of course very attractive to developers who in effect get purchasers to part fund their building costs without the need for them to raise and borrow additional funding.

I can see the attraction for developers, I cannot see it from a buyers perspective, particularly as they are shouldering some of the risk.