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I am positive about the property Spanish market. I believe it's still a good one for investors and people who want to have a place in Spain. The good point of the current crisis is that prices still have a way to drop. Probably we will see better opportunities for everybody.

Spanish developers admit that ˝toxic properties˝ should be demolished
15 October 2010 @ 03:55


For the first time in Spain, property developers have recognized in public that it could be better to demolish developments that were built up in the Spanish property boom and will never be sold.

From our point of view, the ˝junk stock˝ should be excluded from the market since they are a aggravating factor for the normal recovery of the market, rather than demolished. ″Junk properties″ that were built up by speculators in the peak of the boom are now a burden (toxic assets) for the real surplus of property that potentially can be sold in a reasonable period of time according to the reality of the market.

Why not to demolish them? This is because demolition will increase the economic cost of the development, and also generate an environment cost and a moral cost that Spain can not now afford.

 

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