Prices of CDA apartments

Findaproperty.com are advertising 3 beds at £69.500 and Murcia Golf Properties have some advertised at 70.000 euro's.

 hi all, does anyone know how many properties are unsold on cda

Maybe the management company Milenium has that sort of info?

70,000 Euros with today exchange rate is less than £60,000. I would hold on a little longer, think they will come down. Especially if there are further problems with the Euro.

I would expect the exchange rate to reach 1.25 to the pound this year. Also if it gets confirmed that Paramount is not going to happen then you could be looking at £50k for an apartment. (less if Spain leaves the Euro) Even I thinks thats not a bad deal!

 There are only a few properties in the Jardines left, these are being sold by the banks for €65k for a 2Bed and €70k for a three bed.  I'm told that when CAM were taken over they were told to reduce the price to sell them off.  These properties are being sold as seen and the bank will do no snagging repairs so make sure you do an inspection first.

Price in Naranjos, that are owned by other banks, have held their prices and are still around €80k for a 2bed, €90k for a three and €105K for a penthouse.  These a ball park figures and not exact as the price varies a little depending on garden and location.  Check with the seller and some, like CAM, are selling them as seen whilst others are still doing repairs.

Personally I don't believe that the prices will drop any more, the prices in Naranjos have been the same for over 12months and there a reason for the reduction in the Jardines.   Paramount is expected to start within a few month, and IF it does this will have an effect on property prices ( albut a slow one ) so I can't seen any further reductions only ( hopefully ) a very gradual increase.

Now, or very soon depending on exchange rate, is probably the best time to buy, 

Ptann

hi we are thinking of buying and would like to know what is the reason for the jardines low prices?  all feedback appreciated

 Hi tee5,

CAM bank owns less than 40 apartments in the Jardines now so when they were taken over it appears they were just requested to get them off their books as the new owners didn't what a property portfolio.   As far as I know there's no other reason,  these properties are a bargain and will make anyone both a great holiday home and a sound investment in the long term.  I liked the place so mush after buying mine I ended up taking early retirement and moving here :-)

so does that mean when those 40 are sold their will be no bank repos oncda or are their other banks with repos on the jardins

also does anyone no the criteria for a spainish mortgage like here it is good credit and you can borrow 3.5 times your yearly income.

Tee5,

There are bound to be other banks involved with repossessions. I'm sure CAM were not the only bank that has had to take back apartments. One thing for sure though, a 3 bed Jardine at those prices is a steal. We paid 140,000e off-plan supposedly 'cherry picking' an ideally located position to benefit from the planned facilities. As history shows on this site, much changed from signing to delivery of the finished product and the wisdom of paying a premium for a certain position proved to be totally flawed. We all know the economy is still on dodgy ground but at 70k I'm sure I would have a punt right now even knowing what I know and living with the disappointment of what has failed to materialise. I, like PTAN thing prices are at the bottom and could very swiftly take an up-turn if/when Paramount comes to town.

Not sure if you have paid a visit, but the Jardines are the longest established gardens and it is evident in the maturity of the plantings. I think a lot of the available units might not be in the best position though (typically end of row looking straight up the street rather than the superb setting of the gardens & pool). If you can get an apartment that ticks most of the boxes you are looking for you should go for it. Be aware that some of the gardens are lanscaped to a significantly higher standard than others and that's why a visit is imperative - learn from the off-plan mugs !! 

Regards,

 The best bet is to come over its a great time to invest

Phil is bang on in all he says. Do not commit to an agent or property as some agents are good and some bad pop in and have a chat when over if you wish.

a few 3 beds at 65 do exist and quite a few 2 beds. they are nearly all cam who wish to offload their remaining properties on Jardins. You need to come over and have a look people want different things so each individual needs to look for themselves.

Its like everything Phil said if Paramount start prices may rise.

Lifes a gamble but this could be a good one without guareentees so good luck

Neil

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