Wednesday, April 18, 2007

Spanish Land Grab Threatens to Slow Expat Rush for Homes on Costa Blanca

(Bloomberg) -- Linda Brennan and Terry Venables are making their last stand. Bulldozers await the green light to demolish part of their century-old house in Spain's Valencia region, so they never leave the property unoccupied.

Venables, a former British soldier, shouts in rage as he points to stakes that mark out the foundations of vacation villas a developer plans to build on land where their pear trees and grape vines once flourished. Rather than being compensated, they received a bill for 69,900 euros ($91,670) to bring services such as power and water to their new, unwanted neighborhood.


Read more at Bloomberg Exclusive News

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