Sony SET TV on TDT gone.

Hi again everyone
I would be interested to hear from anyone who has had a valuation recently on a ground floor 2 bed one bath garden apartment, we had it valued just for info a year or so ago at 202,000 EU
I suppose the only valuation that counts really, is the bank valuation for mortgage purposes, has anyone had this recently?
Now I know the housing market all over the world is having a tough time, and would like to find out what the gereral opinion of fellow owners is on this subject.
Polaris have as I understand 150 apartments as yet unsold,does anyone know the prices and type of apartments they have left? ie are they all cr...p ones with no golf view, on their "key turn" properties.
Thanks.
Mike.

Mike,
if you want current resale values then check out polaris world resales web site for HR

http://www.theresorts.co.uk/polaris-resales-hrgr.html

The current valuation around is 'make me an offer' its that bad, as in most countries at the moment. Personally I love the place and cant get over enough, but there again we purchased for a get away lifestyle and not an investment of rental income. The resale values can be a shock at this moment in time but I feel its just trough in the global cycle and things will pick up in the coming years. To shift anything in Spain at the moment is very very hard, nothing to do with PW. We have purchased quality and thats invaluable.

As for the town centre, its dissapointing but planning permission is strict, and renovating a grade 2 listed building in the Uk is far from easy. I did hear a RUMOUR that renovation on the Hacienda would not happen (to difficult) and a totally new town centre would be planned from scratch and completed much quicker than a renovation project  on the Hacienda.

that should invite some comments!!!!!

Graham

I heard a Rumour that West Ham were signing Ronaldo but I suspect it's way off the mark !!

The Polaris description of Hacienda Riquelme requires the old Hacienda to be renovated within the Town Centre. Anything less than that would open them up for claims against the Sales Description act. There is plenty of material to back up any claims if they do go down that route.

Anyway, do we really want an old building going to ruin in the middle of the resort. Presumably it would need permission to remove it.

I too bought for myself rather than rentals but the value of the resort will be linked to the successful completion of the facilities. I'd like to know why they only submitted the proposals to the local authorities this year when we've seen the plans in the sales material for the last 3/4 years.



  

Exactly Tarkers, see my other rant in a previous post.  I reiterate........UNACCEPTABLE.  

All the facilities portrayed on the cute little models in the swanky blue HQ should have been finished BEFORE any apartments were allowed to be completed.  Everyone who has completed thus far, including myself, regardless of whether we purchased as a home to live, rental or investment has unfortunately been screwed as until these facilities are finished the resort will not be able to compete with its local rivals.

Not so bad for the livers in, but disastrous for those hoping for a little rental income.  Fortunately I planned for the worst so I am not relying on any rental income, but I am willing to bet that many of the investors on our resort were and cannot now afford the mortgage.

This will unfortunately have a knock on effect on the whole community, which is likely to start with some non residents falling behind with community payments, which can only be bad for us that are paying.  Sorry to keep being so negative, but our community needs to start facing a few realities if it is to survive.  PW also need to play their part by GETTING THE BLOODY FACILITIES WE WERE SOLD FINISHED!!

I have spoken to Resortalia about this and they reckon 18 months build time for the town centre WHEN THE LICENCE IS GRANTED, ASSUMING IT IS EVER GRANTED!  very poor.  Am I getting through yet?

Ok on a lighter note can anyone rent me a place on HR for the nights of 9, 10 & 11 of September?  I will expect reduced rates as the resort isnt finished LOL (sorry very poor taste).

Chin up everyone,

Ken.