COVID can’t stop justice as €25 million now won for Spanish property owners by CostaLuz Lawyers

Spanish property law firm CostaLuz Lawyers has announced the recovery of €25 million for clients who paid deposits on homes that were never built (or finished) due to the global financial crisis back in 2007/08.

With another 200 cases in progress, the company expects that figure to rise significantly over the months and years ahead, despite the fact that 28 December 2020 marks the final date for buyers in this position to start legal proceedings.

47 of those wins, representing a total of 71 clients, have been won in 2020. That means the CostaLuz Lawyers team has won approximately €3.5 million this year alone, despite courts closing and other significant disruption due to the COVID-19 pandemic.

With cases taking as long as a decade to work their way through the courts, some of the clients that CostaLuz Lawyers is winning money back for are now in their 80s. Many were on the verge of retirement when they originally put deposits down on their dream Spanish homes back in the boom years of 2004 to 2008. They’ve since spent years of their retirement fighting for justice.

Other of CostaLuz Lawyers’ clients are just approaching retirement now – a prospect made vastly more appealing by wins representing tens of thousands of pounds. Chris Nairn, for example, was 50 when he first paid a deposit of around €125,000 for a property in Murcia. When the developer didn’t deliver on time, Chris asked for his deposit back. He finally got it back – plus interest and fees – a full decade later, thanks to the CostaLuz Lawyers team.