Costa Esuri

Costa Esuri is an urban development, on the outskirts of Ayamonte, on the Costa de la Luz and within 55 km reach of the city of Huelva. Visitors from northern Europe usually fly to Faro Airport which is only 45km away.

It is located near the mouth of the River Guadiana, close to the border between Andalusia and the Portuguese Algarve.


Costa Esuri was one of the largest developments in Andalusia. It was also part of the reason for one of the biggest bankruptcies in Spanish commercial history. The developer was the Galicia based property developer, Martinsa Fadesa. The company remains in administration with debts of 9.3 Billion Euro.

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[2] [3]

The resort is made of several blocks of properties. Some are individual villas, but the majority are two or three bedroom apartments. While two bedroomed apartments were fetching in the range of €170,000 before the Spanish property crash of 2008, today they can be purchased for around a third of that price. That means that new buyers can pick up a bargain property, while those who bought before the crash are left with properties worth much less than they paid.

References

  1. ↑ http://www.discoverhuelva.com/news/fadesa-regains-control-of-costa-esuri-golf
  2. ↑ http://www.bloomberg.com/news/2014-03-14/martinsa-seeking-relief-on-9-3-billion-burden-distressed-debt.html
  3. ↑ http://www.telegraph.co.uk/news/worldnews/europe/spain/2450399/Britons-caught-in-Spanish-housing-industry-collapse-launch-legal-battle.html


This article is issued from Wikipedia - version of the Sunday, December 13, 2015. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.