La Reserva de Añoreta, Lomas de Golf, Jardines del Rincón, Euroestrada, Terrazas de Locea and Jardines de la Cala are the developments situated in Rincón de la Victoria although complaints have also been made regarding developments in Benalmádena, which also happen to be managed by Aifos.
The president of the real estate association ACI – Andalucía (Diego Ríos) has stated that with this situation, the purchasers have no sense of security regarding the money they have put down as deposits. He pointed out that a developer will often volunteer to return the deposit because if a buyer puts down €90,000 for example and it is returned to him plus 6% (house value increase) five years later, he is still losing out since the value of the money has dropped in this period of time. The associations Ausmin and ACI – Andalucía have confirmed that they have been in contact with the property development company but up until now have not received a reply. They also have announced that they are going to report to the Consumers’ Council of Andalucía so that they carry out appropriate inspections.
