Possible Property Purchase

I am considering purchasing a small property on this development as an investment could anyone offer any advice.

Would a purchase be a good idea??

I would also be interested in hearing from anyone looking to sell.

Thanks

Phil.

If you are going to rely on renting  out dont bother,until happy mount park comes next door. As for buying the cheapest ive seen is 70K EURO for a 2bed.

If you are going to rely on renting  out dont bother,until happy mount park comes next door. As for buying the cheapest ive seen is 70K EURO for a 2bed.

Not sure if the previous post is just a wind up as the Happy Park I know is in Morecombe UK. Maybe he's just being humorous in reference to the possible Paramount Park being built 5k from the resort- who knows?

If you are serious about buying you need to visit- If Paramount does build you could be onto a winner for rental or even flip for profit  but if Paramount doesnt get too far beyond this stage ( and that could happen though I hope not) you'd be like the rest of us with a quality property but iimited facilities on the resort but there is a bar and a golf course and  an interesting local area.

NB- anyone who pm'd me before I left for Croatia my apololgies I just cleared my messages and realised there were a couple of new messages to late.

Hi

A local agent is advertising 2 beds on Condado from  £63,000.

I dont think the banks holding a large number of deeds for property`s on Codado etc are selling much below that unless you have cash to spend.

I gather & it just might be a myth that if you are buying more than 1 the price is much lower.

If you are looking for a long term proffit then buy now I wish we could afford to.

Jan

For an investment I would spend my £63000 on a terraced house in the UK.

Nobody knows what will happen to future property values, maybe Condado property prices will rise faster than the UK or maybe Vice Versa.

However I personally believe a property in the UK will be easier to rent out and will yeild more annually than a property in Condado and its easier to keep your eye on!

I was joking about Happy Mount Park, i was thinking about Morecombe . Look what happened to that place.

Hi Darren

 I agree that a UK property is easier to manage but here in  " Sunny" Walsall we are flooded with properties to rent,. many staying empty for a very long time.The area`s  do not appear to have any relevance either.

So I think its a 50/50 gamble at the moment.

Jan

www.luxuryletmurcia.co.uk

I own many properties that I rent out in the UK, the longest one of my properties has been empty is about 6 weeks.

If the property is decent and the price is right you will fill it easily.

The situation at Condado is like Day 1 GCSE Economics - Supply and Demand. There is a large supply of properties for rent and a low demand! I would be amazed if people have been able to rent their property out for 50% of the year.(I am sure people will tell me they have, but I would imagine that they are the exception rather than the norm)

You could always look at long term rentals to the Paramount constructors(if it happens), but I would imagine you would be looking at £250-£300 tops per month, your UK house would achieve £350-£450 depending on location.

From you post it seems that a new landlord should avoid Walsall, but there is a decent demand up here in Bolton, it may not be as sunny as Walsall, but rentals are ok!

Hi Darren

Not looking to invest anywhere @ the moment but maybe Bolton is the place to go.

My Brother in Law lives in Bolton, never been there. Maybe we should go some time.

A friend of ours has just bought a buy to let in Blackpool. Lets hope they have as much luck as you

Jan

I have a  few apts in Bolton and have no probs filling them. Here is an apt in Bolton for the same price as a property on CDA  £60K. You would get  £400 pcm all day long, http://www.rightmove.co.uk/property-for-sale/property-32429426.html

Do these amzing apts in Bolton have the pool and palm trees outside, I didn't realise that Bolton was such a tourist destination, Might sell up and move to Bolton, I assume that they get the same temps in the summer as Murcia, has anyone thought of emailing paramount because they have made a mistake building in Spain when they could be building in Bolton!!

andyclarke
 

No Bolton has not got any of what you have put in your post. But the other side coin is, them apts in Bolton have not dropped to 1/2 the price that people paid for them unlike CDA. And the Bolton apts do not come with high ownership cost unlike on CDA .

I guess it all comes down to the reason for buying an apartment. If this is an investment only, there are lots of other options. You can buy real estate in other parts of the world, shares, bonds, art, gold etc. or simply keep your money in the bank. For a period of time the last option might be the best one.

I bought an apartment on CDA for personal use. I'm not going to rent it out, if the price goes up it will be a bonus. I bought it because I want to own an apartment in Europe with a better climate than Norway (in that case I could probably also buy in Bolton), I want to spend my time off in a country where a nice meal with wine in a restaurant doesen't cost £100-200 pr. person, I want to get the feeling of going away from my everyday life as often as possible. There are some other reasons as well, but it is not a financial investment, it's hopefully an investment in quality of life.

The property above is a broom cupboard in an old cotton mill FFS!!! LMFAO
 

I wouldnt give you 400pence per month for it never mind £400 HAHAHAHA

Mind you it is 1st April!! LOL

There are not too many restaurants in Bolton that cost £100-£200 per person, in fact I cant think of any! Last night I got 2 meals for £10 and my steak and ale pie was lovely!

We dont have a paramount park (neither does Conadao) but Camelot theme park is only 10 miles away and that pretty good!

Not too many of the Bolton apartments have Palm trees, Pools and good weather, but we have just got a Nando's.

We also produce lots of celebs like Peter Kay, Paddy McGuinness, Sara Cox, Vernon Kay, Danny Boyle, Fred Dibnah, Amir Khan, Robert Shaw, etc etc.

I also believe we have a football team!

Maybe I dont like Condado because my home town is so amazing?

Although getting back to the point the original poster said he was "considering purchasing a small property on this development as an investment"

I still stand by my statement that the 400 pence broom cupboard (Chaddyowls words not mine) would represent a better investment.

I realise that past performance is not nesscessarily a guide to future performance, but my worst performing property investment ever was my flat on Condado.

So as an investment I would look at Bolton First, The Banks Second, The Casino Third, Santas Son in the Grand National Fourth, then maybe a flat on Condado.

Darren  dont forget the laddies of bolton are beautiful just look at big sam.

Bolton Old Links - Great Golf Course - played in the old links trophy once or twice very enjoyable - Top track.

Back to being serious and forgetting the pro's of buying property in Bolton, if you are looking for investment in any property no matter where in the world it is you should never look to make a fast buck property is a long term investment in 10-15 years time you would make money, the negative replys on here are from people who where trying to buy off plan and then sell at a quick profit, and the global economic disaster kicked them in the teeth, if you are looking to make money from rentals you again will struggle at the moment, but IF and it is still a big if paramount does go ahead things will change. If you look around the area there is alot of things going on roads being built, new airport, etc, and the local towns are great to visit. Spain still gets my vote compred to any sprawling conurbation in the Uk

back to a fun post if if if if if if if if if if if if if if if if if if if if big word

you can get a good s'''#g in bolton for a months rent on the condado  (very cheap) just dont let the husband find out)  lol