Spanish Property Insight › Forums › Spanish Property Forums › Real Estate Topics, News & Discussion › Trampolin Hills Manager (Antonio Martinez) jailed › Re: Re: Trampolin Hills Manager (Antonio Martinez) jailed
logan: I’m very well aware of the problems that PW have & I do agree that trying to sell at the moment will difficult, I am at least on a finished development. I would probably have a different view if I was at Condado.
You used the word ‘investment’ in your post & that, I think, is one of the major issues.
I’ve visited many exhibitions in the Uk over the last 7 or 8 years run by all the familiar large agencies, Atlas, Parador, Masa etc & I’ve lost count of the number of times I was told I could rent the property for 40+ weeks a year & so why don’t I buy 2 or 3 (or more), off plan, sell for a VAST profit because these are such great investments & then I have a ‘free’ property for myself producing an income! Obviously many people were taken in by these ‘salesmen’ & are paying the price now. It has happened in the UK in the last couple of years with the buy to let boom, & a great many people have found that they own several properties in developments they have never even visited that they can’t rent out for any amount. Yes, the agents/developers lied about the potential returns but at least they have a built legal property.
That however, is a seperate problem to a development that hasn’t been & never will be built such as TH & ACC. These developments were a con! & the LAWYERS/BANKS & of course the DEVELOPERS knew that & lied & forged documents & STOLE buyers deposits.
My purchase wasn’t/isn’t an ‘investment’, I bought because I liked the development & I wanted my own property, with my things in it, my decor & my furniture. Of course, I could have saved a vast amount of money br renting some-one elses property, i don’t want to do that. I’m fortunate in that I don’t have a mortgage & I can afford the running costs, I do know many however, who are struggling.
I accept your point about the differences between Spain & France & indeed the UK, but I still come back to the accusation that buyers at Trampoloin Hills have been naive & gullable & I still can’t agree with that.