How much for an apt.

My sister is looking at buying cda,what is the lowest price she should be looking at paying.

Your question is a bit like asking turkeys to vote for Christmas!

 Ill sell you my 2 bed Penthouse for £500,000 - that will include furnishings. Ill even leave it clean.

Seriously I agree with Faulky. May be best just to look t the many resale internet sites.

A thread late last week quoted apartment in J7 at £87,500- likely, though not definately, not to be positioned too well but thats personal choice (inlaws wanted ground floor end of block right next to parking- not everyones choice as its also wall facing)

I'd suggest searching the various Spanish Banks who have done mortgages for CdA and funded PW as they now have their own resale sites and as I understand it will negotiate as they just want to sell and clear the back log whereas agents are still looking for some profit margin, if you can find a private seller you may be able to haggle them down with a silly offer as they may be desperate to sell. I'd try to get some idea of the original market price in that case as some people will just want their money back and want to walk away from the difficult situation they find themselves in.  In one of the articles on EOS recently, searching the banks resale sites, was also the advice given by Justin

Looking at Terry & Jills web site they have key ready properties on Condado starting at 75000 Euros with 100% Financing availible. Sounds like a pretty good deal to me!

Yes, these are looking very cheap now. But, I'm not complaining-I like what we have and we aren't aiming to sell so its a bit less important.

I wonder how many unsold or resale properties there are on CdA. I heard there were a lot on La Isla because many people had to walk away from their deposits as the economy crashed and PW didnt actually sell anywhere near the expected figures anyway- but across the whole resort I wonder how many are empty? You used to be able to log onto the PW site and find out what was sold and what wsnt but I dont think thats possible now.

Tony,

Though not a truly accutate way of establishing the level of sales :-

1)Count the apartments with bare wires still.

2)Look through the community voting nomination papers from last year and they will give you an indication of the properties still owned by Polaris/Banks.

That's if you have got time to spare .

Regards,

Hi tony,

"Is this a bargain"- post 13/02/10

That thread you are talking about was posted on the 13th Feb, slightly more than a week, how time is just passing us all by 

Ali

I was quite happy paying the price I paid for my "little 'ld pad in the sun" few years back.

So whats the problem? Terry & Jill said the the same! 

I've enjoyed every moment!

All the no electricity! No water! No customer service! BUT between all of us.................. We love it! We love it!...!!!  and if more people are willing to buy into the Condado . I don't have a problem! 

This is a resort, community, new beginning........................ whatever..........go with flow.......ride the waves!!!

I think no more brandy and a bit more coffee x

Scapa,

its not the brandy talking my friend. I for one agree with your view. We have just returned home from CdA and had a great few days over there in our little place in the sun. I was very interested to see there are now apartments for sale at half the price we paid but I was not angry/bitter/frustrated/etc. The sooner the development fills up, the more commercial interest there will be (shops, banks, eateries, bars, etc) and the sooner we will have all the facilities we are expecting. I think you hit the nail on the head when you said "go with the flow and ride the waves", only a short sighted pessimist would deny those people looking for a bargian the chance to share what we have. There will be people who say that selling apartments for £60k - £70k "will draw in unsavoury characters" to a top class resort but they just add to the variety of life.

I remember being lucky enough to go on holiday to the Dominican Republic several years ago and we paid about £3k for the trip. On that holiday we met a couple who had got 'a late deal' and had paid £1100 for exactly the same holiday as us............I laughed, bought the lucky couple a drink and carried on enjoying my two weeks in paradise. 

Life is a rollercoaster amigo, we should enjoy every twist & turn because once the ride is over, there ain't no gettin back on.

WW 

Hi All

What we have got to remember is that when we bought the pound was a lot stronger against the euro so unless you are actually in the euro zone the properties are not that much cheaper. I was luckly enough to get 1.51 euros to the pound when I bought so when you do the sums at today's exchange rate.............!!    If you are in the euro zone then you are in a lucky position to get a bargain so go for it.....  

I can whole heartedly agree with the previous comments and we do all love it at Condado and are really pleased with our purchase so much so I was buying on Terrazas and could have got an absolute bargain if I moved to another property on Terrazas but I chose not to because I wouldn't have been 100% happy with the property and moved to another apartment on Condado.  The important thing we need to remember is that some of these bargains are only available due to people not being able to complete due to whatever reason and have lost significant sums of money as they have lost their deposits.  I really feel for these people it must be a nightmare for them.  The property I was offered on Terrazas was one of the properties that someone had paid the 40% deposit on and lost their deposit as they backed out and in effect was in breach of contract,  if you are in a financial position to buy and get yourself a bargain what are you waiting for as like the rest of us I'm sure you will LOVE IT !!!!!

There will be bargains out there and good luck to those who can get one. However, location in any estate agents mind is everything. Having had a good walk around the campus at Naranjos recently I noticed  that the best locations are mostly taken - based on the 'bare wires'measure mentioned earlier in the thread. In some parts of the Jardines I was surpised at how many properties had already completed and were well established.

In any development some properties will not sell as quickly as others because they just don't have either the view, or are not near the facilities or are isolated. These are the bargains to be had in my view. The property we bought was in the exact spot we wanted and we waited months to get it. These properties will sell for good money now and will appreciate faster when the recovery has established itself. This is just one of the laws of economics - supply and demand.

For those who want to get in on what will be one of the premier resorts in southern europe in 10 years time - bag a bargain wherever it is. I predict the critical mass of occupancy will occur just around the same time the economic downturn is properly over (about 18 months from now) and at that point there will be feeding frenzy on those resorts that have survived well. Looks to me that Condado will be one of them and any news circulating about 'Paramount theme parks' and high speed rail links are all brilliant indicators we should all promote.

In the mean time enjoy the sun and the peace and quiet!

Jon Faulkner

I dont think it will necessarily bring in 'undesirables' to our resort- it also depends on what people consider to be undesirables.   If you rent out apartments you have no idea whether your renters are 'desirable' or 'undesirable' to other occupiers anyway. A thread last year made it clear many people want the live and let live approach so wont care who their neighbours are. Low prices often just bring the property into a realisitic position for people who have considered buying but prices made them undecided. Regardless of the mortgage people still have to be able to afford the community fee, utilities and furnishing etc. I hope it will be a good thing for the resort that some lower prices encourage more purchasers as the resort will benefit and be busier. I like the quiet, peaceful times on the resort but dont want the 'ghost town' atmosphere of off season and would like it to be busier generally. Huge benefits for the facilities and Al Kasar.

I'm also not convinced that local Spanish people will want to buy on the resort  (as full time residents) in droves because traditionally golf resorts aren't considered 'homely' to them and community charges are generally  more than  what they want to pay. But low mortgages and low prices and pleasant surroundings could change all that and certainly increase the options for 2nd home buyers.