Did anyone else read this in todays Times (just part of the article). I anyone aware of this?
However, investors who bought on the basis of rental guarantees may hit problems, because the tourism authorities must license properties before they can be offered for rent, a fact often omitted in a sales pitch. “Many people are getting their fingers burnt by a handful of unscrupulous developers,” says Katy Katani, UK manager of Grupo Lar Sol, a Spanish property firm. Buyers must do their homework. She advises using an independent international lawyer with expertise in the Spanish market, reviewing the purchase contract, confirming guarantees and checking land registry, planning permission and the financial accounts of the developer. Law agrees: “Do your homework on prices, and don’t buy rubbish, buy quality.”