05 Aug 2008 3:01 PM:

I do have great sympathy for anyone who has paid a deposit for this development. It sounds like it is proving very difficult to get any response or repayment from Aifos, but if you get the chance I would urge anyone to pull out if they can. I have lived in this area for a number of years and the building boom on the costa has produced countless half-finished blocks of apartments and they are hundreds of properties now for sale in the Torrox and Nerja area as the recession here takes hold. I do wonder if the promised green areas, shops, golf courses etc will ever be built at this site and at the Calaceite development. Nearby areas such as Torrox Park have countless properties for sale and the so-called commercial centre is bereft of any shops. I almost bought off-plan myself once but instead decided to buy something that already existed so I could see exactly what I was getting. Not much use to those who are trying to get their money back, I know, but I do wish everyone in that position the best of luck. Unfortunately the market here now is very different to when these properties were first marketed.

Community thread: builder bankrupt

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