More apartments being built

Someone, somewhere still obviously hasn't grasped the reality of recession.

This is the Avenida da Liberdade this afternoon. They will have a nice view of the block opposite that has been empty and derelict for as long as I can remember. At street level in that block,  the closed down Barracuda bar will add to the ambience. Just out of shot, a group of workmen were busy relaying the 'calcada' for the umpteenth time.

Most of the appartments between there & the square are empty.
East of Faro they tend to refurbish old properties before building new,the villages look so much better for it.

Your theory is very good Tyrion until you go looking these guys and then you find that it seems nobody has told them that we are in recession.

This is true and as we say, it seems that property developers have limitless amounts of money so they should run the government during these financial crises.

By the way, since I took that picture nearly 11 months ago, nothing has been built although there was a bit of digging going on this Sunday.

Going back to the original item, the same site nearly a year later.

I guess the council get have some kind of tax they levy on building projects, so are more than happy to boost their income by giving the go ahead for new schemes, however hare brained and badly timed they are?

Avril wrote: Pity they couldnt give some incentive to get the half finished buildings finished!!

There has to be more than we are seeing... Pure commerce, supply and demand,    If a moneyed person is willing to put their money into a hotel (or similar/equivalent) then we must,surely, accept there's a return?
I also agree.. The number of unfinished... The abandoned...
Ho hum, I'm seeing both sides here I think, beer goggles off! Lol.
All that apart, yep, can't believe the amount of development, new, defunct, finished, ongoing... It amazes me.