I spoke to my lawyer a few days ago - buting in Phase 4 block 2. He confirmed that building was restarting this week with the new builder. I also was told that despite the considerable delays there was no possibility to pull out of the purchase as block 2 is ready. This is despite the fact that completion was due to be Dec 06. I still have no completion date but was told up to 3 months from application for habitation license. This would take us through to end of May.
Arenal applied for the habitation license at the end of January so we are looking at completion 6 months late. There is also no suggestion of compensation from the developers. From an investment perspective, the numbers are not quite as attractive as MRI indicated 2 years ago - mainly the possibility for the rent to cover the mortgage.
Has anybody any feeling for short & long term rental rates yet in Arenal ?
It would seem that long term rental is the mainoption initially due to the fact that Arenal is still a construction site.