Two houses for the price of one
10.10.2008
"Two houses for the price of one", this is the tempting offer made by one of 17 real estate agencies participating until Sunday in the Mediterranean Real Estate Trade Show (Simed) in Malaga, to deal with a crisis which in Spain has brought the sector on its knees. Much smaller than usual, with only 30 stands compared with last year's 109, and on 3,500 square metres from last year's 16,500, the exhibition tries to attract potential buyers with knock-down offers.
The figures published by the Association for agencies and constructors of Spain demonstrate the existence of a crisis: on the Costa del Sol alone sales collapsed by over 70% in the past 18 months. The sector estimates that there are around 24,000 new houses without a buyer. Therefore at the Simed real estate agency Salsa, as reported by El Pais today, proposes a 4-room luxurious chalet for EUR 780,000 (plus VAT), plus, as a gift, a one-bedroom flat near a golf course in Velez (Malaga).
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