Thursday, November 20, 2008

Urbe Time Again

If there is one thing that marks the changing of the seasons for an estate agent in Valencia it is Urbe Desarrollo, the Valencia property and development fair. This year it has changed the nom de plume to Urbe so that it doesn't get compared with previous years' events I suppose.

So anyway I went this morning and was out within an hour, truth be told 50 minutes of that time could have been better employed. The deals from the developers ranged from 12-62% off previously listed prices. There was nothing new or planned (Some very small developments) apart from the Valencian Council's plan for the area around the Grand Prix circuit for which they are looking for collaborating construction firms.

There was not one golf development represented, last year I counted at least 12 and last year I described as a funeral! Well for developers the time to make hay has gone and they need to adapt to the new realities. Most of what was shown is already finished or on the point of being so. Therefore it is competing with second hand resales which usually have established gardens or an infrastructure around them and are therefore much more attractive to a potential purchaser.

Marina D'Or, the biggest carbuncle of them all, was represented selling off their project in Egypt.

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