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Selling property abroad?

Selling property abroad?

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.

Out of pocket: Seven years ago, Marian Henderson moved to the south of Spain with £1million in her pocket. She will be lucky to return with one quarter of that sumOut of pocket: Seven years ago, Marian Henderson moved to the south of Spain with £1million in her pocket. She will be lucky to return with one quarter of that sum

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…

Read the full article at

 

 

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