Having looked at the details again.

No it does not look a bad investment, in the framework that it is done. And i hope it makes money for people.

My personal opinion for what it is worth, is as an end user, or private buyer at the end of the chain it would not suit me. But for other people it might be fine, and i hope it does work out for the investors. Every investor wants to make money.

As most people are aware, Spain is going into a nose dive currently, so market situation is not great, but it is still after Australia the number one retirement/relocation destination.

So, yes, thats be positive on the project. Maybe a change of heart. Personally I want different investments to a country I think is going to struggle.

It has alot of good things Spain, services, ease of access, safety, sunshine, facilities, it is an old hand for tourism, but there are also problems, socialist investment regime, two tier systems locals and non residents, one of the lowest yields in property. So for investors who want to keep their gains away from government. ie. capital gains, rental income tax, wealth taxes, property taxes, it is not the most profitable environment.

But the way the deal is structured should be ok to good for the investors.

By putting the money into an escrow the developer can borrow against escrow money, because he can not take your money, as perhaps (and i dont know for certain) things are not in place. (paperwork), otherwise people could put more money in.

Yes, land reclassification a good thing, profitable. Politically it is a hot time for Spain and building as the sector is really in pain, so the town halls *local, regional and national governments have alot of power. So politics to get things done over rides pure economic capitalism (which I dont like)

In spain there are 3 tiers of government and red tape, in the uk is 2.
Spain, local, regional and national.
Uk, local and westminster if in England, other areas different.

So dealing with entities outside of an investors control is always more difficult and more tiers of government just mean one thing. Time and waiting.

Sincerely I am 150% behind people wanting to make money and making investments.

Spain in Europe, and perhaps Italy are maybe the best 2 retirement locations. There will be a market, but times are getting quite tough in Spain on a number of levels.

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