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Drakan

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About Drakan

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  1. http://property.timesonline.co.uk/tol/life...icle3203491.ece
  2. Is this your source of information Brian, the coastrider ? A weekly foreign newspaper where all the REA pay to place their ads. Do you honestly want to make us believe that you think prices have gone up by more than 10% in 2007 in Spain or parts of Spain such as Elche ? As a chartered surveyor working in Spain you should know -for a fact- that early in 2007 the Bank of Spain instructed that all property valuations had to be done realistically which immediately translated in 20-30% reductions of Spanish appraisals. This is a fact. I find it hard to believe that yourself being a professiona
  3. I see what you mean, yes I believe you are right. I owe you an apology Frank, sorry I stand corrected. It would seem that prices are skewed so as to appear there has been a great reduction in price. Some dodgy trick pulled by the rea who posts the ad.
  4. I haven't had the time to analyse them one by one. I can't vouch if some prices are irrealistic or not. What I do know is that they are coming down and having being doing so for 2 or 3 years now. Not by 40% but by more than 10% I'd say. Property prices in Spain are overvalued by at least 30%. Newspaper articles are also written by estate agents ? -20% resale http://cl.invertia.com/noticias/noticia.as...4222&idtel= -30% resale/off-plan http://lavozdemarbella.com/marbella/000021..._ha_bajado.html There is no bigger blind in life that the one who refusest to see what is happening.
  5. I only copied and pasted the first 30 hyper links, for the rest or you take my word or do the search yourselves in that website. -65.73% 212500 620000 superficie:109m2 eur/m2: 1949 Málaga - Mijas / RIVIERA. ATICO VISTAS AL MAR Y NEGOCIABLE. http://www.segundamano.es/vi/7638061.htm?ca=28_s&st=s -65.61% 186000 540910 superficie:96m2 eur/m2: 1937 Toledo - Yuncos / YUNCOS http://www.segundamano.es/vi/8632155.htm?ca=28_s&st=s -65.45% 190000 550000 superficie:96m2 eur/m2: 1979 Málaga - Mijas / RIVIERA DEL SOL 2 HABS.1 BAÑO, GARAJE, PIS Málaga - http://www.segundamano.es
  6. It is now official. Spanish Real Estate bubble bursts today Tuesday 24th April 2007 following last week's market meltdown of Astroc. Real Estate companies listed in the spanish Stock Exchange are losing over two digits this morning. Panick is catching on like wildfire over to bank's stocks with heavy interest in mortgages. http://www.bloomberg.com/apps/news?pid=206...&refer=home
  7. Yup, sorry. I realised after I had posted it there were actually 35 pages already on this thread. My mistake I thought it was a recent thread. Mmm, no actually I don't believe it's like the 80's. I'm not against off-plan or flipping properties, I do it myself. It's just that I think we are at the end of a real estate cycle Worldwide and entering now is innapropiate IMHO. But I can assure you that I wouldn't mind investing there if the cycle was early. The terrorist attacks and the end of the construction boom is what would concern me most buying in Morrocco right now.
  8. With all due respect Dogbox I think you are mistaken in many points. Back in the 80's I heard these same comments: Morrocco the hotspot, people flocked to buy properties and then it all deflated. I know people who went bankrupt as developers and REA. I'm sure you'll argue things have changed since then, of course, just like the dot com bubble and the irrational exhuberance we saw. Things don't change, they repeat themselves over and over again. There will be no tunnel joining Spain, my home country, with Morocco for at least the next 20-30 years if at all, let alone 2007 !! You are not goi
  9. As I already posted I suspect you have some vested interest Adi Brown. If property sales are still going on strong at the costas, why have so many estate agencies gone bust ? Why have large british real estate agencies fired hundreds of agents during these last two years ? Why have so many businesses property-related closed down ? Why are developers going bust ? Why are developers reducing the prices of their housing units ? Why are developers offering the highest commissions ever to estate agents to sell their off-plan units ? Because there is a huge over-supply of housing units and there
  10. You must be joking. I'm a spanish real estate lawyer and prices fell like a rock (as much as 40% in some cases) between 1989-1993. Your claim "prices never fell (not even in 89-93)" is completely far-fetched. Real estate falls, claiming the contrary is a fallacy if not tantamount to having some vested interest. Prices are falling now on the costas and will continue to do so in the next years as it always has happened when the real estate boom cycle is over. That 9% rise is totally unrealistic and takes into a count a median average of prices inland which only us spaniards (and south america
  11. The link would be to a spanish law (in Spanish). The law: R.D.515/89, de 21 de abril, sobre protección del consumidor en cuanto a la información a suministrar en la compraventa y arrendamiento de viviendas What it says: "El R.D. 515/89 otorga a los folletos o documentos similares utilizados en la oferta, promoción y publicidad carácter vinculante, por lo que teniendo igual fuerza obligatoria que el contrato, el comprador podrá exigir su cumplimiento al vendedor" The brochures compiled from the REA come from the developer, so yes, they are contractually binding. No, the developer could't sa
  12. And you spoke with a spanish lawyer ? I guess not. The developer is obliged under Consumer's law and under Publicity law. Applying Consumer Law generally involves litigation but it can be used as a threat against the developer if the breach is clear, such as in your case. They cannot include a swimming pool/golf course in the publicity and brochures and then not build it. It's contractually binding for them If the swimming pool/golf course appears in brochures, promotional videos, computer simulations, plans, sales office with scale model of the whole development etc... Another matter being
  13. I meant to say Bulgaria, not albania, sorry.
  14. Where they already are: in Albania busy selling away completely overpriced properties to poor Brits and Irish alike promising huge capital growth of 40% p.a. har har har.
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