We are in limbo at the moment too. Our lawyer sent us the following reply recently:
Regarding your question about the number of apartments that have been sold for the moment, I cannot tell you exactly because to the unsold apartments, we have to add all the cancellations approved by the Judge, which are now also apartments to be sold.
The Judicial Administrator could not give me an exact number but he calculates it will be around an 80% of the whole development, that will be for sale.
As you will understand, this complicates things even more in a complicated time for the Real Estate market. They think it could take up to seven years to sell all these apartments and therefore to refund the moneys to the people who decided to request cancellation.
If this is true, then the value of our deposits in a further 7 years will be pitiful. Even if we do decide to go ahead there is the credit crunch to contend with plus the fact that we are all now 5 years older than we were in 2003 when all this began and loan repayments will be more of a problem if we are surviving on pensions. Add to that the further fact that life insurance companies do not like giving insurance to males over 55 if there is any history or even a query of a health problem. What to do?
Breda