Property push as 57 homes hit the market in Rincón de La Victoria in public auction

A WHOPPING 57 properties have gone on the market in Rincón de La Victoria after the property developer went bankrupt. Several of the properties hit the market on Monday, January 9 after a several years-long administration process to determine their future.

The property developer, Aifos filed for bankruptcy in 2009 and began liquidising its assets in 2014, but it’s not until now that the properties have returned to the market.

Fifty of the properties in Rincón de La Victoria are in the El Parador de Añoreta area, while the remaining seven are situated in Terrazas de la Cala.

Several properties from the same developer went on sale in different parts of the region including luxurious Costa del Sol destination Benahavís, and coastal haven Roquetas de Mar in Almería. There are 71 properties in total on the market.

The properties have a joint value of €10.3 million, but are on the market for 70 per cent of their value at a total of €7.3 million. In many cases, the homes are expected to fly off the market, given the current high demand for property.