Spanish Property Finders

Please see below a short trail of information relating to the proposed Paramount Theme Park development in Spain. This information is from snippets of information from the Polarisworld.info site but I don't say that is the best place to go for the best deals. In addition to that there are other places including banks of course as well as some local agents who have contacts with the banks. Do your research and compare prices. You can find these on the internet. I have some such contacts over there and can forward these on request but do your own research as well!

kingofspain999@googlemail.com

P.S. Check out my sister blog by clicking the link on the right of the screen under ‘Interesting Links’

I just had the following come through to me on email, just wanted to share it with all concerned. What do you readers think this means for the Spanish property market and investing in property there?....

KingofSpain999@googlemail.com 

P.S. Check out my sister blog by clicking the link on the right of the screen under ‘Interesting Links’

Article:

The Spanish government is set to launch a sweeping restructuring of its troubled regional savings banks in an attempt to reassure global markets it can sort out the problems caused by its troubled property sector.

The authorities plan to create a state-backed fund which will enable Spain’s regional banks (Cajas) to raise capital in return for an equity stake.  The move allows for a part-nationalisation of up to 17 of the country’s regional banks with investment also coming from private sources.

One of the reasons the Cajas need money is to help them come clean on losses caused by suspect real estate loans.  To write off the debts, the banks need extra investment to maintain their liquidity ratios (the percentage of their balance sheets they must legally keep in cash).

In addition to the offer of government money, the Cajas are seeking investment on a tour of the Far East in the hope of raising funds from Japan, Singapore and China.


The timing of the Spanish government’s move is a not a coincidence.  Spain must shore up market confidence in the run up to the Spring, when it needs to refinance a large swathe of its debts on international markets.

If it fails to refinance at a reasonable rate of interest, the government could be forced to follow Ireland and Greece in asking for a bailout.  

As Spain is a much larger economy than either Greece or Ireland, the money needed would likely exceed that available in the earmarked bailout fund.

The result could trigger a euro collapse or at least precipitate the formation of second tier, weaker Euro.

The short-term instability would be terrible for overseas property transaction volumes across Europe in the short-term but would kick-start business over a longer time period

All eyes on Spain.

Source: Global edge

The area of Spain around the Mojacar area in Almeria is I think is a really nice area of Spain and not overdeveloped, but developed enough to be enjoyed (some call it Real Spain). It is also within easy driving of the proposed Paramount Pictures Theme Park in Murcia... just over an hours drive away. Mojacar is also no further away from Almeria airport than Terque is but the Mojacar area is by the sea and very beautiful with palm trees, nice beaches and clear blue sea.

On my travels over there I called up to Polaris World to take a more detailed look around that development. I suppose nearly everyone has heard of that from the extensive advertising that was done several years ago just before the property crash! I met with one of the directors of the company because I explained ot him that I was representing a group of people who had lost their deposit funds on a failed off-plan development and some were looking to invest in a property in Spain still...mostly because of the reduces prices that can be had now at say 50% of what they were at the peak.

Well Polaris World of course is no exception so I thought I could look at that to see what was on offer. It has been a while now as it was around end of November time when I was there.

I was keen at that time to understand what was happening also with the new Corvera airport and the development of the theme park branded by Paramount Pictures. Nothing was presented as confirmed at that time but i have seen a few postings recently about this being confirmed now.

Anyway, the same director just rang me up to see if I have anyone interested. To be honest i have not got around to letting people know about it yet but I suppose I should do that now. It came to my mind that there will be others out there interested in this development too so I thought I would blog about the phone call today.

There are many Polaris World agents out there but I have a contact direct with the Polaris World head office if anyone wants to take advantage of it. Just contact me direct and I will give you the details or get them to contact you.

I also asked him to give me an update on the Paramount situation so I will pass that on as soon as I get that information.

kingofspain999@googlemail.com

P.S. Check out my sister blog by clicking the link on the bottom right of the screen under ‘Interesting Links’

Below is an edited version of what appeared in the first blog I set up yesterday...

I guess the first question is why King of Spain 999 as a 'blogger name'!

Well, from where I was 6 months ago it seemed like it would take someone like the King of Spain to sort out the situation that I and many countless thousand others find themselves in...that is having paid a deposit for an off plan property only to find out I have no property and seemingly no easy way to get my deposit money back! The '999' bit is because this is really an emergency! (In the UK at least that is our emergency number phone number!) A personal emergency is something that could have a major impact on your life, not reclaiming my deposit money will do just that for me!

Also, it is a name that will be remembered I think! Quite abstract, albeit appropriate as explained above.

I would like to think too that the work that I and others I know are doing would lead to the same result as if the King of Spain had got involved to sort this mess out.

The property boom in Spain as it was then seems to have created a widespread disregard for the proper legal process. This has left many innocent people from the UK and other countries.

I know many people have been affected and I hope these posts help them get their thoughts in gear for taking appropriate action. Taking action either by themselves or preferably as an Action Group where you can get reductions in legal fees as well as share ideas together on your specific situation. If I don't answer your questions from a fellow-would-be-investor point of view then please let me know what questions you would want answered...after all it might help our group out too!

Let me know if you find the possibility of having a blog on this subject useful. If I know there are interested people out there then it makes it more worth my while in bringing you information on what our Action Group is up to and what we have learnt on our journey so far.

In addition to learning about what courses of action are open to try to get the return of failed off-plan development deposits back, I have also come across property finders and developers who are currently able to do property deals at half the prices of what they were when I first placed my deposit donw. I am happy to present here what I have learnt so far and what I continue to learn.

Yours,

kingofspain999@googlemail.com