I have no reason to defend Grupo Sanchez but in fairness to them all that has happened is inevitable when people or business try and buck the system by attempting to distortpure economics...i.e supply and demand. The very sort of "overseas offplan" property schemes have been vulnerable to crash for some time now as they are or can be false markets created by false price increases in an attempt to give the impression of boom and quick profit. It is sad if people lose money in these schemes but in reality it is inevitable...Brazil has demonstrated signs of high risk for ages and no real consumer demand for these high priced (off plan resorts) falsely talked up by parties keen to sell deposits to finance these schemes.
Awful painful lesson for some but hopefully a lesson learned by others.....there aint no quick route to riches and certainly not via offplan overseas very speculative flaseley priced property schemes! Simple as that.
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