Hi, we bought off plan ( having previously been La Manga people) on phase one and have seen various changes over the years, some bad like closing the It bar, some good like the clubhouse, the Spaniard and the bank taking over the resort from Armilar Procam. The paper value of the properties has dropped dramatically as per most of Spain, but if your not desperate to sell its not such an issue. The main thing is some properties are sellied albeit slowly and the new management do seem to be taking slow but sure steps to take the resort forwards. Also any properties that had construction started have neen finished. They have ( quite sensibly in the current ecomomic climate) not started to build any new properties even though the ifrastucture is in place.
The Hotel is finished an mothballed, Ive been in and it is a truly great looking place- there is even furniture in there all covered in plastic and water in the pools so its a dead cert that it will be opened in the near future, maybe to coincide with the new airport? Also I know for a fact that the second golf course plans exist beacuse I spoke to Dave Thomas ( the designer) son who told me that that had been already paid for the completed work
Rumour still abounds about the proposed Paramount theme park 10 miles away at Alahama ( see simply newtorking . es) and if that comes off I think Hacienda will really take off both in sales and rentals.
In my opinion someone has had a greater insite into the area than the likes of us when they chose the location for Hacienda in the first place, The new Motorway, new airport, high speed raillink from madrid, Paramount studio and Im told a plan for a water park in Fuente if the theme park goes ahead, and Fuente Alamo itself which has changed from a bit of a fleepit to quite a nice town.
In short I think that you can do a lot worse than Hacienda. Its a good location, safe for kids ( ours often take their bikes out and od their own thing) and well maintained.
Hope that helps