Planning madness.
Nov 8th 2009 | 6:48 am
#1
Thread Starter
Lost in BE Cyberspace
Joined: May 2009
Posts: 5,753
From: Alicante province
Planning madness.
Just about the only green space left on the outskirts of Torrevieja has just been granted planning permission for 8,000 houses to be built on it. Here’s the link:
http://www.costa-news.com/index.php?...4036&Itemid=12
I must declare a personal interest, I sometimes walk my dog on the land.
What makes the whole thing even more ridiculous, is that there are thousands of incomplete houses in the area because all of the local developers have filed for bankruptcy. There are also thousands of houses for sale and a lot of bank repossessions.
The giant stretch of land is owned by two Spanish families, former olive farmers, but already rich from selling another finca next door, which has had hundreds of houses built on the land over the past 30 years.
What worries me is that all the builders who went back home when the bubble burst, reducing the local crime rate by 50%, might all come back again.
http://www.costa-news.com/index.php?...4036&Itemid=12
I must declare a personal interest, I sometimes walk my dog on the land.
What makes the whole thing even more ridiculous, is that there are thousands of incomplete houses in the area because all of the local developers have filed for bankruptcy. There are also thousands of houses for sale and a lot of bank repossessions.
The giant stretch of land is owned by two Spanish families, former olive farmers, but already rich from selling another finca next door, which has had hundreds of houses built on the land over the past 30 years.
What worries me is that all the builders who went back home when the bubble burst, reducing the local crime rate by 50%, might all come back again.
Nov 8th 2009 | 7:07 am
#2
Joined: Mar 2006
Posts: 1,980
Re: Planning madness.
Just about the only green space left on the outskirts of Torrevieja has just been granted planning permission for 8,000 houses to be built on it. Here’s the link:
http://www.costa-news.com/index.php?...4036&Itemid=12
I must declare a personal interest, I sometimes walk my dog on the land.
What makes the whole thing even more ridiculous, is that there are thousands of incomplete houses in the area because all of the local developers have filed for bankruptcy. There are also thousands of houses for sale and a lot of bank repossessions.
The giant stretch of land is owned by two Spanish families, former olive farmers, but already rich from selling another finca next door, which has had hundreds of houses built on the land over the past 30 years.
What worries me is that all the builders who went back home when the bubble burst, reducing the local crime rate by 50%, might all come back again.
http://www.costa-news.com/index.php?...4036&Itemid=12
I must declare a personal interest, I sometimes walk my dog on the land.
What makes the whole thing even more ridiculous, is that there are thousands of incomplete houses in the area because all of the local developers have filed for bankruptcy. There are also thousands of houses for sale and a lot of bank repossessions.
The giant stretch of land is owned by two Spanish families, former olive farmers, but already rich from selling another finca next door, which has had hundreds of houses built on the land over the past 30 years.
What worries me is that all the builders who went back home when the bubble burst, reducing the local crime rate by 50%, might all come back again.
Nov 8th 2009 | 7:28 am
#3
BE Enthusiast
Joined: Sep 2009
Posts: 856
From: York, PA, USA
Re: Planning madness.
More of the same idiocy that crashed the Spanish economy in the first place. i swear, it seems that the people there will not be satisfied until they turn Valencia into a replica of Los Angeles County. There's so many plots of land to be built on with so many unfinished and foreclosed homes, of course we as a species are too dumb to figure that out
Nov 8th 2009 | 9:49 am
#4
Banned
Joined: Oct 2009
Posts: 699
Re: Planning madness.
I read that the Junta De Andalucia are to subsidise home buyers with a 1 Billion Euro grant.
I thought great chance to buy in Spain.
Not really as I`m not and not likely either to become a resident, so I`m out of luck, but also once you read the small print so will the Spanish who take up the offer.
How it works, well basically Like the ‘cash-for-clunkers’ programme used to subsidise car sales, public money will now be showered on house-hunters.
Developers participating in the scheme have to offer their property for sale at mortgage cost, wiping out their margins and giving a discount of 20%. Participating banks, for their part, will loan 100% interest only for the first 3 years. Starting in the fourth year the Junta will offer loans to subsidise mortgage payments for up to 5 years and a maximum of 15,000 Euros. As a result, buyers will save as much as 40% over 8 years, according to calculations by the Junta.
The properties must be newly- built, and the mortgage no greater than 245,000 Euros.
In year 9 mortgage lenders have to reimburse the subsidy to the Junta and add it onto the outstanding mortgage, so the borrower pays in the end.
Basically the Spanish govt instead of paying for the whole roof on a leaking building, it will instead make an expensive repair, charge the owner for a new roof and hope the roof never leaks again.
But we all know that the roof will leak again and the roof will be more expensive in a few yrs time.
Reading all the hassles of Spain, Greece and Italy, that expensive apt in Dubai is starting to look more attractive day by day.
I thought great chance to buy in Spain.
Not really as I`m not and not likely either to become a resident, so I`m out of luck, but also once you read the small print so will the Spanish who take up the offer.
How it works, well basically Like the ‘cash-for-clunkers’ programme used to subsidise car sales, public money will now be showered on house-hunters.
Developers participating in the scheme have to offer their property for sale at mortgage cost, wiping out their margins and giving a discount of 20%. Participating banks, for their part, will loan 100% interest only for the first 3 years. Starting in the fourth year the Junta will offer loans to subsidise mortgage payments for up to 5 years and a maximum of 15,000 Euros. As a result, buyers will save as much as 40% over 8 years, according to calculations by the Junta.
The properties must be newly- built, and the mortgage no greater than 245,000 Euros.
In year 9 mortgage lenders have to reimburse the subsidy to the Junta and add it onto the outstanding mortgage, so the borrower pays in the end.
Basically the Spanish govt instead of paying for the whole roof on a leaking building, it will instead make an expensive repair, charge the owner for a new roof and hope the roof never leaks again.
But we all know that the roof will leak again and the roof will be more expensive in a few yrs time.
Reading all the hassles of Spain, Greece and Italy, that expensive apt in Dubai is starting to look more attractive day by day.
Last edited by chulo; Nov 8th 2009 at 9:54 am.
Nov 8th 2009 | 6:37 pm
#5
Thread Starter
Lost in BE Cyberspace
Joined: May 2009
Posts: 5,753
From: Alicante province
Re: Planning madness.
Yes, I’ve read that a percentage will be for social housing, they already have a similar, completed scheme in town. It’s an admirable aim, of course it is, but the example in town is terrible.
It consists of three apartment blocks, and it’s a slum. I could go into detail, but I’m sure we’ve all seen slums in our time.
I’m going to shut up because I’m supposed to be liberal minded, and if I write about the junkies and riff-raff living in the slum, I’ll sound like member of the BNP, heaven forbid.
It consists of three apartment blocks, and it’s a slum. I could go into detail, but I’m sure we’ve all seen slums in our time.
I’m going to shut up because I’m supposed to be liberal minded, and if I write about the junkies and riff-raff living in the slum, I’ll sound like member of the BNP, heaven forbid.
