International Health Insurance News - Destroying Spain's expat homes 'could hurt economy'
08/03/10 11:56
A move by Spanish authorities to bulldoze homes along the country's southern coast will hurt the economy, a British foreign office minister has argued.
Chris Bryant, the minister for Europe, said during a visit to the region to meet with expats whose homes are under threat, that bulldozing homes that have been declared illegal is undermining recovery efforts in the housing market.
"The housing market in Spain is not going to recover quickly if pictures of bulldozers knocking down expats' homes are appearing in British newspapers," the Telegraph claims Mr Bryant said.
He added that while it is not for the British government to tell the Spanish what to do, he is pushing the matter at all government levels.
Individuals who are buying properties abroad should, however, make sure they make every effort to seek independent legal advice before parting with their cash.
Mr Bryant argued that people buying an overseas home - not just one in Spain - should be "extremely careful" when negotiating a deal.
Moving abroad? Get a free quote for your international medical insurance online.
Other archived news itemsNeed help?
Please call one of our advisors on +44 20 3195 7481. Email us at info@exphealth.com or use our Call back feature
Third Floor, 36-38 Botolph Lane, London EC3R 8DE, United Kingdom
Tel: +44 (0)20 3195 7481 Fax: +44 (0)870 428 5141 Email: info@exphealth.com
