Bidding for Costa del Sol homes opens on auction web site at just half their market value

A residential complex in Nerja consisting of 75 homes has been put up for public auction on Escrapalia, a website that specialises in properties belonging to companies that have gone into liquidation. The starting price for the complex is 7.1 million euros; half its market value of 14 million.

In addition to the homes that have a floor space of between 60 and 170 square metres, the Mar de Nerja complex has 81 parking spaces and 79 storage rooms, according to a press release the company published last week. The complex also has communal areas with gardens and a swimming pool.

The auction will remain open for bids on the Escrapalia portal until 24 August. Anyone interested must register and pay a fee to put in a bid on the website, in addition to a five per cent deposit of the starting price. The property was owned by the Malaga-based developer Mardel Promociones y Consulting Inmobiliario S.L., which has gone into liquidation.