False property advertising

False property advertising – this term refers to an illegal method, used mostly for off-plan property sales where called “False trade description”: usually an anonymous “property agents” give (directly, indirectly or by implication) untrue specifications of the properties, misleading information about the actual vendor or future benefits that are non-possible. For example, “a luxury furnished off-plan development with guaranteed rental income” has been used as a “soap bubble” by many overseas real estate agents (that later vanished with their collected commission fees) to attract foreign property investors from the UK and Ireland, in many property developments in Cyprus, Spain, Bulgaria, Morocco, etc. At the end of the day the skeleton developments were abandoned, crop land plots never turned into regulated lands with “developed holiday complexes”, and everyone related in the frame who has received money from the trustful buyers – has disappeared from the frame with the collected money.

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