Spanish housing minister appeals to British buyers to return
Sunday, February 6, 2011 @ 11:10 PM
Beatriz Corredor, the Spanish housing secretary, promised new planning laws to end the confusion which has led to some British home owners being ordered to knock down their properties deemed to have been illegally built.
“Come here calmly, and trust in the system that we have and the transparency we provide,” she said.
“There is a very attractive offer on the table here, with prices significantly lower than two years ago, and you will certainly find what you are looking for.”
Her plea reflects growing alarm in Spain at the huge stock of newly built homes waiting to be sold - of which 400,000 are near the coast - since the country’s economic crisis began. Prices have tumbled by up to 40 per cent and banks and construction firms are desperate to recoup some of their investment.
In recent years, Britons have bought one third of all Spanish properties sold to foreigners. But many have recently been put off by horror stories of planning permission being retrospectively revoked and other complications, and the number of British buyers has slumped.
Read more...