ProACT can now reveal that the large overseas property agency Parador Properties - a national UK overseas property agent with offices around the world including Paphos and Larnaca in Cyprus - has gone into voluntary administration as of this morning 8/7/08.

An official statement this morning from Quay West Communications, Parador’s PR company, reads: “It is with regret that Parador Properties has announced that, due to the downturn in the overseas property market, it has gone into voluntary administration. This does not affect property purchases by any of its clients, as all contracts were made between the individual client and the builder; Parador Properties acted only as an introductory agent.

This article is courtesy of www.opp.org.uk

This reflects another casualty of the 2008 recession. ProACT Partnership will provide an update to expats of this story as and when it happens.

Meanwhile we remain available for professional advice and assistance to any expats or investors in the process of buying overseas property abroad with parador. Contact us for a free review by going to;

www.proactpartnership.com/contactus.htm

sam orgill