Altos de Alcaucin.
Who is to blame?
Lets look at a few facts. In 99% of the instances ADH only recruited people with no real estate experience, because they wanted to train and mold them. A practice used by most really big companies. All of the big real estate companies knew that appealing to peoples greed was one of the easiest ways to sell property. On that basis the sales people were trained / brain washed that off-plan property was the best investment ever and that the clients would make money. I know for a fact that a lot of the ADH staff and staff from other real estate companies have lost everything and have themselves had properties repossessed.
The brain washing part was easy, as whenever we switched on the tv we heard about more people who had made millions in property and every other person in the pub was just about to make his million. And we were all desperate to buy and invest.
Were we tired of hearing in the press and on the tv how everybody else was making millions in property?
What would have happened if prices had continued to soar at 17% / annum and if sterling had got even stronger?
Lets be honest who of us would be really be complaining now?
Who of us would be trying to get their deposit back?
It is very unfortunate that the British press started to attack the Spanish property market around May 2007 and through out 2008.
Even before this current economic crisis they helped put these big real estate companies out of business & spread panick among the same people that they had earlier told that property was the best thing ever.
I am on holiday in Spain now and tourist figures may be down 10%. BUT do you know what?
It still seems packed with happy smiling tourists, there are virtually no more crains left now and the sun is still shining and the Spanish are not that bad.
Has the project been badly built?
Well ihave not got inside, but no the qualities look really quite good looking through the entrance doors I can see the developer has used lots of expensive granite that was not in the list of qualities.
I suppose the owners of those massive estate agencies have made their millions, however you may get some pleasure from the knowledge that their staff in many cases did not get paid as the companies collapsed in 2008 and they shut their offices.
Many of the dreamers that sold you properties also lost their own properties and are back in the UK with you probably selling double glazing or something else. Yes thats right if you can remember the reps name who showed you around look him up or her up! You may feel compensated a bit in the fact that he or she lost his job and house too!
So what happening now the developer is left fighting against a lawyer who just wants to make a quick buck pretending to help you when all he wants is your advance fee.Altos de Alcaucin.
Who is to blame?
What would you be doing now if the market had carried on climbing?
Jason