Hi Sue,
We bought a holday home off plan back in 2008, since then we have spend some wonderful holidays at Condado, so good in fact I took early retirement and we moved out full time last year. If you read through the threads on this forum you will see the positives and the negatives of Condado, at the end of the day it comes down to the reason for buying. Many were attracted by the range of advertised facilities that should of been built here, but due to the global recession only a few of these were built so we currently only have a supermarket and bar on site. If people bought with the view of getting rental income, then for most this hasen't happened due to the high number of rentals available and the lack of facilities not attracting holiday makers. Many brought off plan hoping to flip them on completion and make a profit so for them, again due to the recession, things haven't gone as planned.
But if you are after a holiday home for yourselves or wish to spend extended periods at Condado, I would still recommend it.
There is a good community building up on the resort and there are always things to do, if you are a golfer then there is a great society to get involved in ( see cdagolf.wordpress.com ). The socal side of the society is getting stronger and we have many events planned with evenings and days out.
We have Mazarron and Alhama on our doorsteps, and all the smaller villages in the area, great places for days/evenings out. Take a look at www.condadodealhamservices.com for a feeling of the things that go on in the area. Also see www.simplynetworking.es for events in the Murcia area.
The new Paramount Resport is planned to be built 5 minutes up the road and everyone in the area, english and Spanish alike, feel this will bring prosperity to the area. We are already seeing the "Paramount effect" at Condao with an increase in property sales.
As you say, there are bargins to be had from the banks at the moment ( selling fast ), it's my opinion that now is a good time to buy and I'm sure prices will start inceasing in the next few years. If you have not been to Condado then come over for a holiday and meet the people who live hear ( yes there are quite a number of us ) there are plenty of apartments for rent at good prices,