Words: Ashley Rigg
Published: 4th November 2010
Spanish PM puts holiday home on market for stupid price
The Spanish PM has put his holiday home on the market for the price he paid for it back in 2007 at the height of the boom.
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Source: Spanish Property Insight
User Comments
The Bank of Spain and the banks will be telling him that he cannot offer it at the real market price as that would acknowledge the real level of values and thus the insolvency of the majority of the Spanish financial institutions that hold homes as security and use their 'asset value' as collateral for their own borrowing..
Makes him look a dope though!
Campbell Ferguson,
Survey Spain
Following on from a senior Government Minister telling the world Spanish property still well over valued how can the guys BOSS possibly act in this way. The significantly mixed messages from people in Government who should know better do nothing to restore confidence. Up to the rest of us to soldier on without any true support I guess.
Roy Hayes,
Kasas Royale