04 Dec 2007 8:50 PM:
Hello,
We bought our property off plan and after arranging the inital payment through a spanish lawyer moved on and got a large english corporate law firm to complete the remainder of the purchase for us. The english lawyer we appointed had practised law in Spain, her father owned properties there and had continued her career in England. The english law firm promoted her heavily as fully understanding the Spanish legal process. When I told her what we were planning to do she was initially very sceptical and advised caution while she checked all the legal processes. I say this because she concluded that the developer was very professional,financially secure, the development was legally sound but had got caught in the mess at the town hall. So we completed without the license in spring 2006 and have thoroughly enjoyed our visits to Santa Maria.
We use our property as a holiday bolthole and do not let it out so we are in a fortunate position but even I was very concerned about completing without the license. My lawyer ( who knows the spanish process, was unconcerned by this as she has always advised that the license would be issued eventually. She was also aware of the mess at the town hall). She even said that her father who lives in Spain has bought property in the past without the license.
If you think about it logically the Spanish economy needs investment like every other in the world. Would they risk the adverse effect on investment in their economy it would have if the mess is not sorted to the benefit of all eventually.
I have been advised now that the license has been issued albeit have no actual proof. I have asked regularly and have always been told they are waiting, so why say they have it now if they have not.If you consider it from the developers position, the only issue stopping Sifasa going after individuals who won't complete was the missing license. If they are now threatening action one has to assume they now have the license.
It is true that the effect on the property prices there will take some years to recover but property is always a long term investment and any return has to be viewed over 5 to 10 years.
I personally don't think the golf course will happen now.
One other view is Disney, why are the Spanish authorities doing so much at Malaga airport, think of the climate over Paris. Paris I understand is the only Disney resort that is underperforming, that won't be lost on hard headed Disney executives. Think of the unrest that France will suffer as Sarkosy tries to get it's economy on track. There is a common view that the Euro Disney Paris resort should have been built in Spain.
For those of you trying to get out of the situation I would suggest you type 'Disney Costa Del Sol' into Google and keep reading.
This message was last edited by pearce on 12/4/2007.
Community thread:
Internet in Vera, Almeria
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