Re: Re: Santander reduces price of flats in Seseña to €65k


@dartboy wrote:

@logan wrote:

I understand the banks imperative but they are simply creating new ghettos for the future. Unfortunately generally speaking cheap property usually attracts less than desirable neighbours. That combination prevents an urbanisation from improving and moving forward, community debts mount up the environment suffers deterioration and reselling becomes impossible.

At this time its only people with money and a job that are buying so these could be classed as yuppie flats the area will go down hill when stability returns and the owners move on and rent them out to the less well off

Yes you are right. Poor people can’t scrape together 65k anyhow. The worry is though that it gets to cheap and people buy to let.