Waiting for better times in Orihuela Costa

Waiting for better times in Orihuela Costa
ORIHUELA COSTA: Developers hesitant to invest at present Photo credit: Concepcion Amat Orta

ORIHUELA town hall has discarded plans to auction off two plots of municipally-owned land in Orihuela Costa.

This would have been the third attempt in eight months, after no bids were made during the second sale of the two largest – and dearest – parcel.

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The town hall succeeded in selling only one plot, the smallest, which went to a building developer after its €1.2 million starting price in the first auction was slashed by half.

Originally, Orihuela town hall had hoped to make a total of €21.102 million but brought in only €683,000 from one sale, a 6,951 square-metre plot of land.

Patrimony councillor Rafael Almagro has ruled out a third auction, according to the local Spanish press.

He explained that Orihuela town hall would wait for better times and an end to the health crisis when the offered land was likely to attract more developers.

“What we aren’t going to do is act hurriedly and make a bad sale out of desperation,” Almagro added.

“Promoters do not want to invest at present, given the uncertainty and we are not going to put them on the market at Covid prices.”

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