12 Apr 2014 8:10 AM:

We bought our apartment two years ago for 60k, our neighbours bought in 2007 for 130k, and the apartment next door which has been repossessed is up for sale at 39k. This is in the Formentera del Segura area. There are over a dozen repossessions in our small development and the same number which have never sold. In all they account for about 60% of all the dwellings. I cannot see anything improving here for at least 10 years until the empty stock has been sold. Thankfully we have no plans to sell for at least 5 years and did not buy with a mortgage. The neighbours who bought at 130k are totally trapped and curse the day they purchased.

This message was last edited by christinejoyce on 12/04/2014.
Thread: 3.4 million empty homes....where are they?

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01 Mar 2014 12:42 PM:

This is unbelievable, and the first I have heard of it. I own in the Alicante region, buying an apartment in 2011. Yes it was reduced from when they were first marketed in 2006, by about 50% although we bought from a person who paid the same amount as us. So no black money. Mind you over 50% are still unsold from when the development was first built. This is a nightmare tax for people having bought in good faith.

Thread: PROPERTY TAX BILL APPEAL ANY USE!?

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03 Nov 2013 4:15 PM:

In our community, in Formentera del Segura, there are a number of squatters. They have been here for at least 5-6 years. It appears if they have a child under 7 they cannot be evicted. Interesting about the water and the company not taking any action. The offspring of our gypsy squatters will take anything and have ingenious ways of entering a property but generally rely on people not double locking doors when nipping to the supermarket. It seems the squatter situation is never going to be resolved. Everyone just hopes that their place will not be the next one targeted in their absence.

Thread: Squatters

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14 Sep 2013 8:03 AM:

Very unusual to get something unfurnished, and seems very expensive to bring stuff out yourselves. There are plenty of companies who could bring out your goods at a fraction of the price, just look on local papers websites for costa blanca. Long term storage in UK is always negotiable.

Thread: Moving On

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14 Sep 2013 8:02 AM:

Very unusual to get something unfurnished, and seems very expensive to bring stuff out yourselves. There are plenty of companies who could bring out your goods at a fraction of the price, just look on local papers websites for costa blanca. Long term storage in UK is always negotiable.

Thread: Moving On

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