THE MAJORITY of properties sold on the Costa Blanca are still bought by buyers with funds in hand – without needing to take out mortgages.
With foreign buyers and investment groups leading figures released by national statistics institute (INE), their report shows that 60% of transactions were carried out without resorting to credit.
In the UK this is called money laundering
David, nothing to do with Monet laundering. The article is simply saying that many buyers didn’t need a loan. It doesn’t mean the proceeds are illegal.