American Company to Auction off Polaris Properties

Sorry - NOT Polaris Properties

FYI

An American company, Kennedy Wilson, is behind an auction of 50 properrties on Hacienda Del Alamo, with starting bids of just €33k. Gulp!!

The auction will take place on 20th October at the Hotel Mercure Thalasia, San Pedro Del Pinatar.  The link is www.lumsdenauctions.com .  Just thought this might be of interest to some of you. 

Good luck.

keeve

Hacienda del Alamo was never a Polaris resort. The Polaris resort with a similar name is Hacienda De Requelme Golf Resort.

Thanks for pointing that out Chris,

My apologies to one and all.   I must wake up properly before hitting the keyboard!

keeve

These as pointed out are not a Polaris Resort and they are based in a part of the resort known as the Spanish Village with is a complex of mostly empty shops and most properties are above these shops

The advertising is slightly misleading as the starting bids are €33k for a one bedroom apartment, 64 sq metres,  in a village square with empty shops underneath with 2 bed properties, otriginally listing at €194k with starting bids at €66k

This only really reflects what is happening generally in the market and happened on CDA, for example on Corvera we have 2 bed properties that were originally €254 that are now €109 with 100% mortgages available and it is still hard to sell them