Spain’s Illegal Homes Overshadow Minister’s U.K. Sales Pitch
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Jose Blanco, Spain’s development minister, tried to persuade U.K. investors today to purchase unsold vacation homes in a country where more than 50,000 home buyers have lost the legal rights to their properties.
“This is an ideal time to invest in Spanish real estate,” Blanco, 49, told reporters after his presentation. “There has been a significant drop in prices, while all the competitive advantages we offer still exist,” the minister said. He will deliver the same message to investors in France, Germany, Switzerland, the Netherlands and Russia.