Wednesday, 14 May 2008

Hell-Dorado or Retirement and Investment Trap.

.....Be careful...If you need to buy, hire a Finnish and Spanish lawer and make sure that the property has been build legally and has not involved any corrupt local politicians or law maker. Nethertheless you are warned....

"Some are holiday homes, others were intended for retirement: all were bought with hope, optimism and excitement.

But the stories behind their "for sale" signs are the most stark warning yet that the Spanish property bubble has finally burst.

Here in Southern Spain, bitter expats talk about "Helldorado" - paradise that has mutated into a nightmare.

Tumbling property prices, a glut of new properties still flooding onto the market and rising Spanish interest rates are taking their toll."

You are warned, investment or retirement plan in Spain or other exotic location are now investment trap.

Source : Daily Mail

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