MALAGA courts have ruled that at least €11.1 million must be returned to buyers of unfinished homes.
The almost historic amount corresponds to the countless deposits put down by buyers on properties that were never completed, owing to the financial crisis.
It comes after Ley 57 Abagados, a Malaga law firm, in conjunction with SOS Housing, took more than 300 lawsuits against developers to the courts.
Judges ruled, in around 220 cases, ‘in favour of those who put down deposits on apartments that were not built or delivered.’
The cases were brought against big names, including Aifos.
Around €7 million have already been handed out to some 132 claimants.
A lawyer representing the families said they ‘have seen an end to the nightmare which began following the housing crisis which left thousands of families without homes or money, especially on the Costa del Sol.’
According to the calculations of the lawyers, ‘in Spain there may be up to 50,000 families affected by unfinished homes,’ and that ‘more than 95% of the sentences are favourable to the consumer.’