They dreamt of a better life on the Costas. Now villa values have HALVED, pensions have crashed - and they can't afford to come home. Now for the really bad news, it's about to get even worse.
The Spanish government estimates there are 700,000 unsold new-build houses across the country. Here, the Mail reveals the heartbreak behind the headlines...
Seven years ago, Marian Henderson moved to the south of Spain with £1million in her pocket.
But when - or perhaps that should be if - she finally makes it back to Britain, she will be lucky to do so with one quarter of that sum.
She’s no spendthrift - the money she has lost has been on bricks and mortar.
Her home, a beautiful four-bedroom country house surrounded by orange groves, a swimming pool and stables, was once valued at £725,000. Today, it is on the market for just under £270,000.
...Hardly surprising, then, that so many Britons are desperate to bail out and return home. Companies that specialise in exchanging large sums of money - such as the proceeds from a house sale - have seen a 50 per cent increase in transactions linked to repatriations...
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Posted in Daily Market News on May 30 2014
This week is another busy one as far as economic releases are concerned, with the pick of the bunch being Wednesday’s release of the BOE’s MPC minutes. The mere rumour that a third person had joined the call for a rate hike had Sterling appreciating against a basket of global...VIEW FULL ARTICLE
Posted in Daily Market News on Feb 21 2011 by admin