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Monday, 19 October 2009

banks have refused to honour bank guarantees placed in escrow-type deposits by foreign buyers, even after developers have gone bust

■ Some banks have refused to honour bank guarantees placed in escrow-type deposits by foreign buyers, even after developers have gone bust

■ At Chiclana in Andalucia, 2,292 homes are scheduled for demolition because they were built illegally on land designated as open space
■ In Valencia region, occasional "land grab" compulsory purchases of holiday homes still take place. British MEP Roger Helmer has called this "the Robert Mugabe school of land redistribution"
■ Property values in some coastal areas have halved since the Spanish property crash started in late 2006;

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