[Aegean]

Originally Posted by mambo

In a market that already duffers from serious oversupply, buying land to build apartments just makes no sense.

Buying premises unless they are very well located, inwhich case they will not represent value imakes less sense.

One of the main problems in making a turn in Spain is the high cost associated with buying and selling and you need to take this into account when looking to make a turn. Given the current market circumstances this is becoming next to impossible.

One project I am looking at is a development that has gone into liquidation, which I am looking for an investor for. There is an opportunity to purchase cheaply and still make a turn. at sellable prices.

If you are waiting for Chinese, you may as well wait for the cows to come home.

Some people are just desperate and will say anything - Spanish prices will fall more before any upturn.

There are some good deals there if you look around as many are just selling up and attempting to get something back.

Good luck with you project.