Buying a LHD in UK or Spain??

Firstly I'd like to thank all of you out there for your comments recently.

Now for my news : Originally I bought at Condado (Dec 2005) only to have the plug pulled after a few months and be offered a discount at Terrazas of 10%. I  bought in Phase 3 after being offered some unsuitable apartments in Phases 1&2 ( those Polaris would have found difficult to sell i.e. N or NE facing with a view of the course if you had a neck like a giraffe). My chosen apartment was in Block 160, top floor with un-interrupted views of the course.

I have been told this morning by my agents ( Parador) that Polaris yesterday withdrew plans for Phase 3 and was now offering the following:

15% discount on Phase 1 ( build time 18 months) basically an extra 5% discount

10% on Isla and Penthouse properties ready in 24 months

10% on key-ready at La Torre

5% on key-ready at Hacienda

and 5% on Condado Phase 1 supposedy to be ready in  Mid 2008

My initial reaction after being changed twice is to cut and run and put the 2 payments I've already made (~50K) into a resale villa I quite fancy further south, but I've asked for availability and prices before I finally make my decision.

Have any of you bought on Phase 3? - Interested to hear from you.

Hi there,

I havent heard about this but if true, I would be very tempted at 10% discount on Isla or Penthouse styles. If your property is an original Terraza style there might be a substancial size difference in the apartments - you might want to consider this.

If you are buying a resale villa to live in - look at Almeria - its really lovely here!

Jamie

I have paid 40% towards a frontline penthouse property on Phase 3. I also purchased through Parador and have heard nothing as yet from either them or PW about the cancellation of phase 3. One thing to note is that phase 3 was actually released in 2 sub-phases, ie. phase 3(1) and phase 3(2). My property would be on phase 3(1) so I'm just wondering if it is only phase 3(2), containing blocks 147 to 195, that is being cancelled. I may be cynical here but, - is this is just a ploy by PW to get people to buy unsold property on earlier phases or on other PW resorts, then 're-release' the phase 3 properties in the future ?? 

Hiya

i have moved from phase 3(1) to a penthouse on the isla with the discount i am getting a cheaper plot 13 square metres bigger living space and  about 8 on the terrace, i am very happy with the new plot but a little disapponted with polaris as i loved where my old one was. It was a case of weighing up whether to agree early and get the pick of the plots or hold out for a better deal.

I think we know what is happening to the chill out bar now.

Steve

I just googled 'Islas Terrazas' and the plans are there to view. The chill out bar/country house remains on the island (with 450+ apartments).

It looks impressive but I too am concerned re the impact on the rest of the development. I must say I feel let down by the lack of communication from Polaris World. As current investors surely we should be kept informed of deviations from original plans, and given explanations for delays in the project?  

there are later plans with the chill out bar missing

steve

I agree with Dimala regarding the lack of communication and detailed information from PW.  Their marketing is superb, their product is excellent - I've stayed on Mar Menor and visited La Torre and their response is good (whenever I've contacted them someone always responds; they dont actually tell me anything but they do rerspond).

Their BIG problem is that their ability to pro-actively communicate with their existing clients is non-existent.

It's very frustrating being stuck in UK, reading conflicting information on various forums, not being able to see what is going on 'on-the-ground' and getting nothing from PW.

We bought on Phase 2 in July 2006 the property is now listed as being on Phase 7.   Apparently the change was made in March 2007 and we found out by chance because we were in the PW head office in September 07 and happened to spot it on a plan.

I complained to PW stating that this was a significant change and that I should have been informed because being moved from phase 2 to phase 7 would suggest a considerable delay.

Everybody (PW, our agent, our Spanish lawyer) assures us that there is 'no problem' as they dont always build in numerical order.  We have to wait to see what they build next.  No-one seems able to tell us what the anticipated build sequence plans are.  How can you plan financially or to move ?

I am told that it is Spanish culture that if they have bad news that just ignore you, or worse simply lie, because the Spanish  don't like giving people bad news!  Very reassuring ........ not!

Anyway we've thought about swopping but things are so uncertain that we are going to stick it out and wait.  Just hope I'll not be like Moses - 40 years of waiting and he never did get to enter the Promised Land!

I've had my whinge and No, it won't change anything and worse, it hasn't made me feel any better!

hiya just put a photo of terrazas in the photo section it shows phase 1 started and most of the site dug out but you can also see part of phase 3 dug out differently to the U shape of the others.

steve

Hi All,

I bought in phase 1 (now phase 2) back in feb this year. I have been badgering PW and my solicitors to give me a "build start date" which is referred to in the contract. Once they give you this there is a committment to deliver the property in18 months. So far I have been unsuccessful. The solicitors are so laid back and PW are completely vague and unhelpful. I have even written to the president, but not had a reply from him. We stayed on Mar Menor this year and thought the place was spot on for quality of service and facilities. Thanks for the pictures of the build progress, I have moaned to PW about the lack of information and pics - isn't that what the PW website should be doing!!!

My (unwritten) estimated completion was q1 2009, and they now seem to be implying that it will be q2 2009, although of course they wont put that in writing!! Anyway, i'm still encouraged by the info you guys have supplied.