Currently in the process of buying on CORVERA

Thanks for your response inspectahome, but I wasn't comparing Corvera to Las Terrazas, I was quoting your post re Corvera being a better investment opportunity than both La Torre and Las Terrazas.

I have no delusions, Las Terrazas has, as you state, only apartments. La Torre on the other hand has many different property types and a larger density (which is a good thing when considering commercial investment potential). For me, La Torre has the greater current amenities and the greater investment potential. Las Terrazas on the other hand has decent facilities and decent investment potential with significantly lower prices than Corvera for someone looking for a golf apartment as opposed to a retirement home.

The only positive point you make is the point about walking distance. However, Roldan and Balsicas are not a million miles from Las Terrazas or La Torre and there are restaurant provided shuttle buses should you fancy a night out without a car. Corvera is not quite as close to the bars/restaurants as you make out either. Resort gate to town boundary maybe, but really it is a lot further than that. Truth is all three resorts require a car as do the majority of golf resorts in Murcia.

Seeing as you are trying to turn this into a battle between Las Terrazas and Corvera. As of last July there were over 1500 properties on Las Terrazas, 800 in private ownership, 450 owned by banks and 250 owned by the developer Polaris World. Properties have been selling well recently with 2 sold in my block. The last I saw was that Corvera had 1100 and only 450 in private ownership. What are these figures looking like now? There is ample space to develop new properties on Corvera too, just not economically viable at present but potential to build will anchor prices as much on Corvera as they do on Las Terrazas where demand means there is ongoing building.

With respect to new build sales v bank properties at Las Terrazas, the newly built properties on Phase 2 are selling better than the residual properties on Phase 1 because they are better located, better priced and better properties than the less desirably positioned bank owned properties on Phase 1. Having said that, there are still bargains to be had and the larger wing properties on Phase 1 are now starting to sell as the cheaper smaller central properties have been sold.

Like I said, this is not a Corvera v Las Terrazas discussion its more a question of why you think Corvera is likely to come good and why you think it has greater investment potential than La Torre. I don't see it to be honest.

Duncan as I have tried to explain I actually work within these resorts every day, it isn't a battle between resorts and properties are available on Corvera, for a 2 bed 2 bath for €45k so they are actually cheaper than Terrazes as €55k minimum for a 2 bed 1 bath

I am actually not trning it into a battel, as I said I sell on both resorts, you are and then ignoring comparisons between places like Hacienda Requelme, educated people will decide what is best for them, regardless of our opinions

When it comes to investment on density people will argue with you if for example the investment is based on rental inclome, the greater the density the more compeltion and I can provide links to people renting on La Torre, peak season for 150 pounds a week of 200 monthly, long term plus bills

If you look at the entry prices for La Torre, they are rising but for anyting reasonable you need to spend €90k plus for a direct comparison to a Corvera property in terms of size and build quality and I agree the minibis service to the Indian or Tipsy is great but is is practical to walk form Corvera to the town, lots of village people do it every day, Corvera Country park

Not sure where you get your numbers from but your Corvera numbers are wrong, yes there are 1100 properties but far more that 450 have been sold and they continue to sell steadily as can be seen on the reducing stocks on the various bank website including Solvia and Altamira, I don't howvever claim to have accurate numbers for Corvera and if I did I wouldn't discuss them on a public forum

You have already answered the question well about the new build verses the existing banks properties, why buy a property in a larger block with closed in terraces, 1 bed 1 bath for €50k, spend 60 on Requelme or €70k on La Torre for a FULLY FURNISHED resale

On Corvera they released the villas a week ago, 5 have sold already and they will all be gone by next week, originally €400k, now €129k, 2 apartments in your block is great, 96% on all properties sold, on a new build close to Campoamor, wher I sold the last ground floor property tiday is more impressive, completion time 7 months

Also  have not said that Corvera will come good, what I have said is that the area is improving, the market is better, other comparative resorts are being re-developed, again educated buyers will decide

I am really getting fed up with saying DO NOT consider any of these properties, in the current market as an investment, on any site but look at ALL of the local resorts and compare, look at all of the costs and compare, advice save money, don't buy on the resort, buy close by because it isn't about any resort vrs any other resort, it is about informed decisions

It's Horses for courses, whatever grabs you go for it, personally I prefer United Golf Resort, it has a mixture of Villas and apartments, the latter also have 2 bathrooms, heating and air conditioning, white goods supplied, vacuum system, and in my eyes a better build quality, 

better than any Polaris, Corvera, Roda or Sierra Golf, but no doubt someone will shoot me down and tell me  I am wrong...... 

Guys,

Everyone has, and is entitled, to their own opinion.

As with any property in any country you have to weigh up what you can afford, what you want from your property and then compromise accordingly.

We have recently purchased on Corvera and are very happy, we did look (online) at other places but Corvera ticked our boxes and after meeting a few owners on a viewing trip decided it was for us.

I believe the OP did even more research but, like us, came 'back' to Corvera.

We have bought as a place for us to use as a holiday home, not as a rental - any potential capital gains in the future will just be a bonus. We have friends who have paid a similar price for a static caravan in the UK! 

Marcus - M28

Hi mib, sox, totally agree that it's horses for courses and what is right for one person is not necessarily right for another.

My view of Corvera is that it is a resort which is well away from the beaches, airport and tourist centres, it has little in the way of facilities and doesn't have a functioning golf course. The resort hasn't been completed and has a substantial number of empty properties

I can't see where investment in facilities will come from or what would drive prices higher in future to make it have greater investment or rental potential than say La Torre or Roda Golf. Sure it is great if you want a cheap home in the sun, like quiet surroundings and aren't looking for investment or rental returns and don't care about facilities like pools or golf courses.

I still can't see how statements like "Other local options include places like La Torre and Tezzazes, bank apartments from €41k, open course in good location but again lots of competition on rentals and they will never increase value compared to Corvera if it comes good" can be justified to be honest.

Duncan,

You are entitled to your opinion, however you seem to have an issue with anyone who shows any interest in Corvera - not sure why?

Don't you worry yourself about future investments etc on Corvera people have bought and are buying knowing the current situation of the complex. Our community is run impeccably our pool and surrounding common areas are cleaned and maintained regularly, so no issues there. The complex overall is in good order with on site security and all other amenities in order.

I will concede that the golf course is in a poor state and would take considerable funds to get it in a useable condition (although I'm no green keeper). The clubhouse does close in the off season, but when it's open its a good place to grab a beer and bite to eat.

Just accept it - people like Corvera town and the complex.

Sure if we had unlimited finances maybe we'd have a year round pass on Necker island? But you cut your cloth according.

Marcus

Duncan just go away and enjoy yourself

Do you know I fnd Duncan's comments are quite funny, either he is on a wind up, or he plans, based on some comments on another thread he plans to come to Spain to work as an agent, because considering he keeps on about not making it a battle between resorts he is doing a pretty good hatchet job on Corvera and swerving facts and even getting things wrong

So for the record what I have been trying to do in my posts is to present a balance between the benefits of ALL of the local purchasing opportunities on the courses around and don't think that I have been critical of any resort, as I explain I live here, visit the resorts daily and have sold properties on all of these resorts

Sorry I forgot UGR but you cannot get a cheap property there becuse the banks have sold EVERYTHING from the first release, we are all waiting for the banks to release the villas, with or without a course

For the record the community facilities, pools ,gardens roads etc on Corvera and UGR are maintained to a very high standard and by the way rentals are OK, especially as the Corvera location lends itself to people that work in Cartagena and Murcia, I know I have rental clients

You cannot compare RODA in the same way, properties are 3 times the price, prices have increased steadily and availability reduced and of course close to the beach and airport, but oddly not everbody wants a beach, sometimes the countryside, mountains and sports facilities that are around all of these resorts are enough, equally not everybody is interested in tourist centres, but perhaps include places like Murcia or Cartagena, linked via a bus service oh yes and the easy route to Mazarron, straight down the motorway

Also I was at pain to explain that the volume sales on Terrazes are on the new release, not bank properties

Also another little piece of information, for the limited availabilty from the banks, mo st of the recent sales on Corvera have been to Spanish people, your completion numbers for Corvera are not correct,

Duncan you keep on saying never increase but that isn't whats been said but if Corvera does come good, which it eventually should, the potential for gain, based on a property that is available for the same money as a one bed property on Terrazes, where there is a lower density, no new building must logically be better, as long as you are prepared to wait and the same logic applies to Sierra Golf and Mosa Trajectum when the banks release properties  

I undertand the attitude of anybody looking to justofy their decision on what they purchased, anybody that wants to defend a resort but not such attacks on another resort, especially when people are not either in the industry and up to date with ALL of the facts or not living in Spain

Hello everyone

I would like to add I started this thread for  helping people thinking of purchasing an apartment in Spain.   

I think that that anyone looking at buying in Spain especially in the Murcia region should come out and try all the areas.  Then judge for themselves which area  and place they like.  Its a bit like why live in Bournemouth and not Brighton both really lovely place to live ..... its a personal thing.  Based on what YOU want.  

My thread was about Corvera but could easily of been about Terrazas or Le Torre...  

Research  Research Research, ask questions use forums like this one and VISIT each place,  then make your decision.

As said previously there is nothing personal towards any of the resorts we looked at and didnt buy, WE liked Corvera and could see its potential.  Its a nice resort with nice people, the town is in walking distance and its a nice town with bars and restaurants,  If the airport opens its a bonus if it doesnt then he ho!  We havent brought this place to make money - its our spanish home for many years.   we dont play golf so this wasnt a decider but the build quality and the size of the apartments are good  WE ARE HAPPY  :)

I wanted this thread to be about our purchase, and the pitfalls and the positives...  so that other novices like us can be aware that its not just the purchase price its everything else that adds on...... I thought I had been very thorough....... However we have gone over budget  but we are commited and have had to rejig some things to complete the purchase.

I wish you all happiness and enjoyment of all your homes in spain.

Mavis Cruet and the crazies xxx

Well said Roy good night Duncan xx

Well said Roy and Mavis, go away Duncan.

I second! Well said Mavis, it is a big step and any help you can get is welcome.

Roy - your comments are informative, objective and neutral - thank you.

LOL

Highly amusing.

So many people completely missing the point. I was only asking the question why certain people seemed to think that Corvera was a better investment opportunity than other golf resorts in the area. I quoted the relevant text numerous times.

Still haven't seen an answer and judging by the latest responses it seems that I have rubbed salt in open wounds by asking.

Good luck with your purchases.

As an aside, resorting to personal attacks is a sure sign that you have lost the argument.

Play the ball, not the person

is that the end then.Goodby Duncan🏊🏊

OK to explain and Duncan no persona; attack but agian to clarify your comments turned into an attack on Corvera but I will explan why, from my experience I would expect that property values could increase by higher percentages that the properties on Las Terrazes, and by the way not just Corvera also places like UGR, Vista Bella, Sierra Golf and even La Torre

Prices are influenced by external factors, real example right now for us the numbers of people interested in buying properties have dropped of because of the Bexit fears and the Euro

Fact property buyers and prices have started to increase on la Torre, external factors somebody buying and re-openning the hotel and the settlement of the debt

Fact on Sierra Golf the original release of the villas style Albratros, 5 months ago, when a builder bought the bank,  and when they announced that they will open the course and pools was €79,900, now the latest release, same property is €115k, and they are selling as fast as they become available

Therefore the facts are that on any resort where prices can be influenced by external factors the opportunity for better financial gain from an investment will always be better providing you realise that it is a gamble and be prepared to be in there for the long haul.

In the case of Corvera for example for what you buy the variance from the original pricing is far greater, villas originally costing €400k for €129k, even on the apartments typically 25% of the original prices and the outside influences that COULD effect prices, the airport and somebody eventually buying the course are far greater. Also by the way, contruary to your belief and comments it is quite a nice place to stay with good long term rental oppportunities. This is why one investor purchased 4 villas and 5 apartments to sit on

Same for places like Hacienda Del Alamo, outside factors there including the openning of the hotel, the airport and possible if they built a pool in the Peublo area where the bank properties are located

Mosa Trajectum - recently purchased by an investor, renaming the rresort, re-developing the course commercial centre, hotel and eventually building new properties, when the banks release more properties here, depending on the prices these could be a good investment

UGR - bank properties sold even when people knew the issues but again potential from outside factors,especially as there is a fully developed clubbhouse and commercial centre, so again if somebody buys the course, re-opens the facilities and the relaease of the villas at the right price

Vistabella Golf near San Miguel, extensive building of new villas and apartments, introduction of secuirty and a gated community and adding 7 more holes has increased sales and prices, one year wait fo a new villa

With some Polaris Resorts like Terrazes those outside influences don't exist, what you see is what you get, a quality product on an excellent resort with a good course, good security, limited facilites, but no real major factors to change things and plenty of new construction happening,  where people can choose what to purchase and are selecting new properties over the bank stock

Duncan there's your answer, no salt in the wounds, based as always on facts and experience of this industry, not observing from the UK and I will continue to offer a balanced view, not as you have infered in the PM that you sent me being bias towards a particular development and conspiring to critise the Polaris resorts, providing information to alllow buyers to make an informed decision

Hi Duncan Mc G

i think I answered your initial question after pulling out of a new build sea frontlineVilla on Puerto de Mazarron 

we searched several areas such as Camposol the housing area not for me but lovely people which has a bonus of English speaking people! Polaris world  las terreze my personal opion was it looked like a concrete jungle and properties where not great value and cold shoebox. Great golf and pub though!! I thought la Torre fees were quite high.

torreviejka area I just didn't like nothing more than I think it looked a little run down looked at Hacienda? Think that's how it's spelt it was nice but wasn't as keen as the town as I hoped to be.

we booked Corvera appt simply to stay as a base whilst looking for a place we could see it was well maintained and not as clinical looking as Polaris world as there was a lovely mix of various styled villa and different styles of apps.

we looked at two bank repros on Corvera then with the help from Mavis who started this thread I called into Finishing touches and Chris took the time to show us a Villa pre-owned and bank repro Appts.

we had the Villa the day after looking to complete mid March. Corvera has a nice feel and should the golf and airport open things will be rosey in terms of investment but we have bought at a good price anyhow.

these guys have all been so friendly and have offered amazing advice from their experience.

Wont ask for better than that

Does my response in anyway suggest to anybody that i am upset or that I have lost any argument, only pointed out the FACTS in a balanced and logical way

Duncan did send me a PM accusing me of all sorts of things but also said that he wouldn't be posting on this thread anymore

Going to stick my neck out here! Don't often do it on "eye on spain" any more, particularly on the general forum. Just wanted to say that both Roy and Duncan are two of the best posters on "eye on spain" and it would be a shame if they fell out. I bought in 2008 and am happy with our retirment home, and we have nothing to do with either of Duncan and Roy or the real estate business. I am retired. However, I do believe the market has bottomed and both views have value. Duncan recommended a Halifax Clarity card - I got one last week - great idea! Roy has been very helpful in the past. Guys - please make it up! Don't stop posting!

Saludos

Well said, kiss and make up ladies ( joking about the ladies)

Just to let anybody who is thinking of purchasing on any of the residential golf resorts know.

As an owner on Corvera and a keen golfer, I have noticed over the past few years that the 'us and them' between resorts has dwindled significantly. As our own course is at the moment mothballed, I have been playing my golf, when in Murcia, with a society that is based in Los Alcazares and play at Peraleja (Sucina). It has become obvious over the inter-resort friendships that are arising that more and more people are realising we are all 'in the same boat' and are travelling all over Murcia and discovering what each resort has to offer. There seems to be no 'residents only' places anymore eg.

Roda beach club on La Manga strip is open to all. We often travel to Hacienda del Alamo to the Spaniard Inn or Peraleja to La Vista Restaurant. Golf at El Valle, Lo Romero, Hacienda Riquelme etc etc.

It has certainly changed our perception of where we are in that although we own on Corvera, when people ask where our place is it is Murcia as a whole.

Pick and choose whichever house/villa/urbanisation suits you but enjoy the whole of Murcia without 'barriers'.