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Buying Property in Europe to Become Safer and More Transparent
A relatively new pilot scheme, backed and funded by the EU, is running well between Spain and Holland as it aims to make buying property across Europe’s borders safer for purchasers who can buy according to the laws of their own home nation
Published in: Buying Property Abroad - Fri, June 17, 2011
The property boom that peaked across Europe somewhere around 2007 apparently resulted in many investors achieving significant gains, and many who dreamed of owning a second home or a retirement property abroad achieving their ambitions.
However, as the boom surged towards its unsustainable peak, greed was found to be undermining the entire real estate industry; and when economies began to falter across much of the EU, we were left looking at a devastated property landscape.
Since then stories of mis-selling, lies, corruption and broken promises and dreams have become so commonplace that perhaps we no longer pay sufficient heed to the tales of woe from those who came unstuck as a result of property transactions undertaken in parts of Europe. However, these tales of real estate dreams gone wrong have been heeded by some in positions of significant power fortunately, and they are working towards making the purchase of property in Europe a safer and more transparent process, with cross border legal guarantees.
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