I paid €500k for a home in Spain in 2001 - today it's worth €150k less

MADRID – They saved up for decades to buy villas in Spain in the hope of spending their retirement living happily under the Iberian sun.

But hundreds of Britons lost money after they were sold homes built illegally on protected land, which were worth about 30 per cent less than they paid.

More than 20 years later, these buyers have finally seen justice done after three builders, a council architect, and a former village mayor were convicted of fraud and related crimes. New Feature

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Adrian Hobbs, 67, a retired businessman from Southampton who has lived in Spain for five years, bought a €500,000 (£435,000) home in the village of Llíber, near Alicante , in 2001. The property’s value has dropped by €150,000 (£130,000).

Mr Hobbs, wh