buying on la torre

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14 Jul 2009 12:00 AM by steevie Star rating. 2 forum posts Send private message

would be grateful for some feedback with regards to buying on la torre, pros and cons etc now the resort is nearly finished.

many thanks




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14 Jul 2009 11:12 PM by davebangor Star rating in Bangor (the one in b.... 92 forum posts Send private message

davebangor´s avatar

Hi Steevie

I am probably able to help here, to a limited extent, as last week I completed the purchase of a townhouse on what is a completed resort. With look a more experienced owner might offer greater expertise & maybe put me right on some of my perceptions.

The pros and cons as I see it are as follows:

PROS

  • A very attractive resort
  • All facilities are in place - unlike "off-plan" purchase such as at Terrazas
  • Goodish range of restaurants and bars (although there is nothing Irish about the Irish Bar)
  • Completed golf course in good condition
  • A "Community" with a few years of experience who appear to be wrestling convincingly with the early teething troubles such as TV contract, Community fees debtors (down 20% since I first took notice)  & what appears to have been initial administrators who didn't appear to do the Community any favours.
  • Much less like a ghost town last week than I have experienced over the last 2 years.

CONS

  • Most of the most desirable plots will be in the hands of those with no intention to move or investors who are waiting for prices to recover - even so there are some bargains to be had.
  • Relatively expensive facilities - golf rates to residents appear extremely high and the course appears to be very under used. PW could use a bit of marketing skill to raise greater green fee income through lower rates & greater uptake.

I'm sure after spending some more time there I might add a few more or reconsider some of these initial thoughts. I have to say that on balance I am well pleased with the purchase and without wishing my life away I really look forward to when we can spend much more time there in a few years time.

Hope this is of some help

Dave




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26 Aug 2009 11:25 AM by MGP Star rating. 7 forum posts Send private message

Hi - Dave's comments are correct - La Torre is a good resort to consider buying on given that the facilities are already established  and the residents association is doing a good job of running the resort. There are also many properties in prime positions available for sale - most of which are listed with us (Murcia Golf Properties Ltd).  You may be aware that there are a couple of events taking place at La Torre during September including the Davis Cup semi-final between Spain and Israel and the Ray Clemence celebrity golf tournament. These are sure to increase the profile of this resort.

At the moment most buyers are mainly looking at La Torre and Mar Menor resorts because they are completed (the Mar Menor extension is very close to handover, just awaiting final licenses). Hacienda Riquelme will become much more desirable if PW start building the resort centre. We are told this will begin in September but we will see. Feel free to mail me for more info.




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