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Terrazas de la Torre Golf Resort forum threads
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20 Apr 2015 7:44 PM by Simplyglitz Star rating. 3 forum posts Send private message

We are looking at buying a 2 bed apartment with the larger terrace for purely rental purposes on the resort.  I would value any opinions on wether this is a viable option?

Any pros and cons would be really helpful to us.

Thanks

 

Wendy and John Haggerty




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20 Apr 2015 11:10 PM by windtalker Star rating. 1949 forum posts Send private message

Don't listen to the estate agents that will give you all the BS under the sun with unrealistic rental returns if you think you are going to put you're property with a Spanish estate agent and then sit back a count the money that is rolling in you can forget it the truth of the matter is you will have to find you're own renter's and then you will have the Spanish Tax man to deal with if you do go ahead with it make sure the property you are buying has a turistca licence for letting to holiday makers if it is for residential use only you cannot rent to holiday makers you mite get away with it .for a couple of months but the surrounding residents will soon cotton on and report you good luck.




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20 Apr 2015 11:45 PM by Simplyglitz Star rating. 3 forum posts Send private message

We are trying to figure out if it is possible to have any form of return on an annual basis for rental - on a quick calculation with rental costs curently carved it really does not look the best profitable.  the estate agents have said that we should expect rentals of 18 weeks only - is this right? 




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21 Apr 2015 10:19 AM by newworld Star rating. 942 forum posts Send private message

Have a look on owners direct etc, i cant see any with apts with anything like 18 weeks some have no weeks, even the villas on La Torre with a private pool would struggle to get 18 weeks. i have a friend on La Torre and he has a property on thats on a few web sites and is a very nice property, and he markets the property very well and if he gets 18 weeks in a year he has done very well. You will find very hard to get anywhere near 18 weeks on that resort.so unless your going to charge next to nothing forget it. Long term rents on this resort get around 300 euros pcm




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21 Apr 2015 12:53 PM by Madura Star rating. 20 forum posts Send private message

Better buy something in a cheaper part of uk.  BUT do research first.   When I  sell my plot in Granada (it's a beautiful spot for someone younger and fit and unfortunately ill health has ruled it out for us now) but I will buy a small flat in the uk and use the rental to rent in spain.  As previously stated you will be promised all sorts of nonsense to get you to part with with money.   Sorry to be negative just my experience.

 




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21 Apr 2015 1:38 PM by inspectahomespain Star rating in Orihuela Costa, Spai.... 2417 forum posts Send private message

Vip Supporter

You may be approaching this the wrong way around, even though I am involved in property sales, the first piece of advice I would give is that, if you have to rely on income from rentals, to fund a property, then don't buy, especially in golf resorts which tend to have higher comunity fee, and  there is a lot of competition for rentals with low rates offered

Rather than saying that you  nned 18 weeks you should look at the ACTUAL rental rates from areas and then the actual costs

Starting with ALL of your fixed costs, community fees around €100 a month, non-residents tax of around €400 a year, your loca;l rates €300, the tax liability of rentals and you will need a property manager,arond €300 a year and finally the standing charges for water and electricity, what you pay regardless of comsumption, around €30 a month

No agent will give you 18 weeks a year and you will have to work hard with your own marketing with siyes like owners direct, Holiday Lettings and other sites and they will either chrage you anually or take a cut of the rental, the use of power and water can make a dent and if you don't control the AC use, with a meter, then you could rent at a loss

Consider all of the options , perhaps a beach apartment, near a golf course, where the fixed costs are lower, could be a better option



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Roy Howitt Independent Property Consultant www.sonrisaproperties.com www.snaggingspain.com WE CAN FIND YOUR DREAM HOME 627 955 748


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21 Apr 2015 8:51 PM by Simplyglitz Star rating. 3 forum posts Send private message

Thank you all for taking the time to respond -it really is much appreciated.

We have been calculating away and feel that maybe this resort may not be the one for us due to the low rentals etc.  We were not gong to fund the purchase via rentals but wanted to make a profit at the end of the year.  However maybe this one is not right for us at the moment. We were fully propared to come out to Murcia to have a look at what is available, as this looked like  a really good option. 

Your comments are invaluable - thanks again!

 




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01 May 2015 9:32 PM by furhg Star rating in North Yorkshire. 34 forum posts Send private message

this resort probably is a sound bet for the next 5yrs...More and more properties are selling and if it really fills up the services will improve further and rentals during the season will increase. It's a great location, close to Cartegena and Murcia. Trouble with the beachside apaprtments is that out of season most places are deserted...Terrazas has the benefit of a good golf club and clubhouse, so maintains winter visitors...prices are very good right now...just my thoughts. Best, MArty



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