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Luís Mateos, the developer of the Lagoa do Coelho resort  is currently spending some time in prison with  a fraud charge laying over his head. The company he is CEO of ,Grupo Nicolás Mateos has not layed one brick on this supposed high level development north of Natal.

A group of angry investors who purchased in this development had combined forces and decided to inform the authourities about the lack of any visible progress and this subsequently led to the arrest and jailing of Mateos. There are approximately 500 investors in the same boat all from within Europe.

Several high profile Spanish developers have been at the centre of non starting projects within the Natal area, including Grupo Sánchez, a well established company, who promised to build over…

With all the talk of heavily reduced property in the Costa Del Sol and vendors having to take rock bottom offers in order to sell their property, there is some consolation for those who purchased a holiday home when Sterling was at its high point against the Euro.

Consider this - many UK purshasers bought a Spanish property when the rates were around €1.50 to the Pound, this means that they obviously have their property asset in Spain fixed Euro denomination. Even if they drop their asking price when its time to sell, when they repatriate their funds back to GBP they will be able to buy far more British currency given the rates are now at around €1.15.

Although this, for many is a bitter pill to swallow some of these losses will be absorbed by the…

Unemployment figures throughout Europe and the US are reaching alarming levels, even though some recent figures suggest an improvement there is still a long way to go.

The cycle of high unemployment numbers leading to a downward trend in the housing market is nothing new, or complicated to comprehend - job losses lead to none payment of mortgage, the banks then go after the property, then the property is sold at auction for what the banks can get for it, leading to a downward trend in prices.

A true recovery cannot be realised without a healthy, properly functioning economy and even though there has been an upsurge is new housing in the US, which is good news, inertia in the worldwide property markets will ensue until more stability appears within job…

The Economic Times reported an alarming increase in both individuals and businesses going bankrupt for the first six months of this year. 3,285 bankruptcies have taken place, that is more than 3 times that of the same period last year. The National Statistics Institute that business made up 515 of the total figure.

Firms and the self-employed accounted for all but 515 of the filings, the National Statistics Institute (INE) said Wednesday.The construction and housing industries are worst hit acounting for 32% of the ill- fated filings, further demonstrating how dependant property related businesses are within Spain. 

As a company we are noticing a significant increase in auction property within the Costa Del Sol, all at absolute rock bottom prices, many…

The Spanish newspaper El Pais has given indication that in some parts of Spain, in some areas, privately owned housing is less expensive than its socially owned alternative. This seems to be the case in the Barcelona area in the north of Spain, known as the Catalonia region.

The fall in property prices has led to a dis-parity of up to 30% in some areas, making subsidised housing a less than attractive option for potential residents. The Environment and Housing Department has said it will now look at selling land to developers who intend to produce social real estate at a much cheaper price, thus hopefully closing the gap.

These subsidised homes are meant to help low income families, however in this amazing turn of events its creating something previously…

Within the last 12 months, prices within the Spanish market fell by 9.2% according to a report published by TINSA. (One of the biggest property valuers in Spain).

The figures demonstrate an  improvement on the numbers produced for the last four months, where a recorded drop of 10% per month had been recorded. This is an indication that prices are bottoming in certain areas. The largest drops happened within the coastal real estate markets, with some areas falling by 10.9% although this is slowing from the figures in April that were closer to a 14% decrease.

The correlation between the massive increase in costal areas in the boom and the acute drop, point heavily towards the influx of investors that flocked to the tourist areas and susequently pushed…

The banks in Spain have been doing their upmost to limit  damages caused by the massive boom and bust in the property sector. To shield some of their worst decisions they have been buying back some of the properties that subsequently have had bad payers. The banks have had some help and guidance from, unbelieveably, Spain´s central bank, who is usually pretty conservative in their approach.

There is some degree of logic behind this process. Previously banks had to account for the total value of bad loans. If the mortgages are above 80% of the total value of the real estate in question after two years of non-payment. This was proving to be too much, because the properties all have some residual value. The new rules by the central bank, say that they will…

There has been some time since we have added further Calabria property to our portfolio, so I am pretty excited at being given the oportunity to promote the last 5 units in Amusa Mare in Caulonia. This development is almost completed and gives access to the charming town of Caulonia.

The natural rustic beauty of this place needs to be seen to be believed, really quaint cobbled walkways with old style architecture. Colourful flowers adorn the window boxes of the old properties and townhouses that line this place, adding to its olde world feel.

Amusa Mare is a development consisting af maisonette style apartments that will have access to a swimming pool and communal gardens. The apartments themselves all have near 20m2 terracing allowing you to enjoy the…