A video post shows worst side of real estate development and calls on people to not purchase of new property in the area and take sing at loacl town hall
Boycott new houses in Orihuela Costa

http://www.youtube.com/watch?v=NSO31QJwKGQ&eurl;=
http://www.youtube.com/watch?v=-Zxqz7dBj0c
what do you think ?

But this is the typical Spain that we all (or nearly all) have learned to love and hate.

But on the serious side, the clips were designed to portray a certain aspect of these two areas ? which it?s done.  I?m sure that we?ve all seen construction sites similar to those shown and whilst not pretty, Spain is Spain.

just to add this , it nice place and i am not giving out the place http://www.youtube.com/watch?v=Xqd3fcCuSqw

I personally cannot understand anyone buying a new built property with so many re-sale properties not able to sell.
Prices are falling and within 3 years a 40% crash is predicted by leading UK financial house and Bank Santander.

These developers are basically raping the Costas out of greed.

Could you substantiate the Santander prediction with a reference or a link to something documented elsewhere?  And where is this crash predicted to occur?

just got this email to me 1.250.000 ? - Restaurante 800m2, the restaurant has 411m2 on two floors, the floor is 60m2 with its own entrance.   
The restaurant is located on the largest street in ...........  Available with all permits, machinery, furniture and all, the business may empesar now.

There are 2 large terraces in front of edif?cio, which gives the street, the other from behind with barbecue place.

that for sale
looking in the Elche asrea for last year and can get any place that worth it

Mister Trotter could give us the link to that please price havnt fallen here yet but do see people try to sell bars and Restaurant and looking mad momey

Expatriator, commercial property is a totally different market. 10xM2 in the same location can differ by huge swings.

Don Carlos, my partner provides me with this information by way of her position with a London financial house in the city.
Economic correction has yet to hit the Costa Del Sol and Valencia regions but it’s beginning too and now.
It is now taking on the best part of two years to sell an apartment on the Spanish Costa. In 2004 the average sale time was under a year, today it is over 20 months. This is now the start of that correction and within 3 years the full extent of the decline will be in full swing.
European commission estemates are that 140,000 New property will have been built in this year 2007, but only 85,000 of those have or will have been sold, resulting in a surplus of over 50,000 just this year alone. The result is that small developers and speculators are beginning to disapear.
The massive over capacity will bring about what the Bank of Santander refers to as the inevitable adjustment in the real estate sector.
Not pleasent for the new buyer facing the possibility of negative equity in the near future and so less buyers prepared to purchase. And so the cycle has begun.

Are the construction estimates just for Las Costas because according to the Ministerio de Vivienda the number of constructions for the first half of 07 looks like this (units are K):

                                                2007M01   2007M02   2007M03   2007M04   2007M05   2007M06
Viviendas iniciadas: TOTAL                       62,9   55,4   51,1   52,6   49,8   58,0
Viviendas iniciadas: protegidas                   7,4   8,8   6,5   7,7   5,5   7,5
Viviendas iniciadas: promoci?n libre             55,5   46,7   44,6   44,9   44,3   50,5
Viviendas terminadas: TOTAL                   42,5   54,2   54,6   58,0   59,6   58,3
Viviendas terminadas: protegidas                 5,3   5,8   5,1   4,3   5,4   3,9
Viviendas terminadas: promoci?n libre           37,2   48,3   49,4   53,7   54,1   54,4

So the number of buildings completed, so far, would be some 327,200.  This is already 2.3 times larger than the Commission?s estimates.  However, what I cannot include is the effect that ?La ley de costa? is having on these figures.

What is certain is that there is an excess of housing within Spain and the constructors are admitting the fin de la alegr?a.  I must admit that I also get the general impression that viviendas are taking longing to shift but I just wonder how much of this is brought on by rumours and fear, hence the cycle.  Let?s watch this to see where it goes.  You know what they say; ?one man?s loss???.

Me cago en la puta, it took me ages to do that table and it got readjusted by the HTML.  Basically there are six columns representing the months January through to June 07.

A test table using raw HTML :

<table border=“1” width=“100%” id=“table1”>
  <tr>
      <td width=“360”>1</td>
      <td>2</td>
  </tr>
  <tr>
      <td width=“360”>2</td>
      <td>4</td>
  </tr>
</table>

Sorry Don Carlos, it looks like the system filtered out your table tags… :(

think the banks are in big troblem with all the money that thay give out in loans ... ie me whos never gone for a loan will end up now not getting one here in Spain and back in the uk Usa are facked ireland

ha all i want is a wife 2 - 3 kids good job and a nice house with ok car ex-wife gone with the post man lol i am here in spain and back uk every few weeks so it funny live two good places in the world still havent seen the house i want .... no loans to the bank pay my visa card every 4 weeks
and no i am not a neard .... just to nice
you wealth is you health

Don Carlos:
The figure I have been informed (140,000 property) might be classed as Holiday property homes.
I will have a word with my wife tomorrow, when I see her, if I see her lol.

If based on the figures you post from Ministerio de Vivienda are correct, what are the registered sale figures?
If they are not 200,000 and I don’t expect them to be near that figure, this would be an ever poorer state of affairs.

ps. The European Commission is taking Spain to the European Court of Justice over the so called ‘Land Grab’ laws. The EC believes that urban planning regulations adopted by regions, like Andalucia and Valencia, that enables developers, under certain circumstances, to force owners of rural property to give up some of their land for urbanization and contribute towards the cost of installing new infastructure, infringe EU public pocurement proceedures. Looks like a mighty battle ahead but no doubt any decision will be light years away!!!

Hi Delboy

I had a look at the INE and AHE web sites and I couldn?t piece together an estimate for registered sales for the first half of 07.  There was a lot of data that indirectly would provide an estimate but I was always missing the last piece of the jigsaw.  Perhaps someone else could provide some pointers here?????

Yes your premise would appear to be correct that the situation could actually be worst than indicated.