Written by admin
Monday, March 21st, 2011
It has long been said that quality counts for more than quantity, and never has this been truer than in the real estate business. Spain in the last decade has seen a boom in the construction industry; it began on the popular Costas and soon spread to the larger cities such as Barcelona and Madrid. The positive economic cycle which boosted countries such as Ireland the UK brought forth thousands of buyers to holiday resorts such as Marbella looking for a slice of the property market action. Buyers and investors were promised wonderful returns on the off plan developments which were going up on every scrap of land between the beach and the mountains.
As more and more people showed interest, developers began to seek permission to ‘stack ‘em and cram them in’, this attitude, in the long run would cause the ruination of the industry. While driving along the coasts main road it’s hard to miss the hundreds of apartment blocks balanced precariously on steep hills, miles from any immediate facilities. These developments contain about 300 to 400 units, multiply that with all the developments of a similar elk and you have major product saturation of (more…)
