Duquesa Village

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25 Aug 2008 00:00 by Marcus Y Star rating. 7 posts Send private message

How is Duquesa Village, Costa Del Sol (Especially phase 2) coming along now. 

What are the resale prices like?

Are there still empty apartments?

What is the rental situation like in Duquesa at the moment (both long/short term rental)

What is Duquesa like to live in permanently?

Would love to hear peoples opinions of Duquesa.

Regards

Marcus


This message was last edited by Marcus Y on 8/25/2008.



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10 Sep 2008 17:21 by leema Star rating in Washington Tyne & We.... 669 posts Send private message

We have an apartment on Coto Real in Duquesa and get out about once a month and love it, hate it when we have to put the key in the door to lock up and go home

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10 Sep 2008 17:33 by Pitby Star rating in Andalucía. 1912 posts Send private message

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DV is basically finished now - with many apartments still empty and for sale by developer and resales.  We have an apartment there and just love it!

I would say it's pretty quiet to live in permanently - although there are a few permanent residents there.  Not sure on the resale prices, but in the current climate I'm sure there are some bargains to be had!!

Re rentals, obviously, there are hundreds of owners looking to rent out their properties all over Duquesa (and indeed the Costas!!), so it would be tough, I would think, if you need to rent it out to pay for itself.  DV is a place where you really need a car and it's not on the doorstep to the port or Sabiniillas, so it's not really somewhere in walking distance of anywhere (unless you don't mind trekking back up the hill!).

But we are very happy with our property and the quality/finish and look forward to spending time there.

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11 Sep 2008 17:14 by Millwall Star rating in Manilva, Costa Del S.... 82 posts Send private message

Duquesa is in my opinion one of the best areas on the Costa del Sol and the apartments in Duquesa Village are to a good standard. They had a lot of breakins in the beginning but the security has been stepped up now. Good swimming pools too. As long as you've got a car I can see nothing wrong with it up there.
                                                                                                           

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11 Sep 2008 17:36 by Pitby Star rating in Andalucía. 1912 posts Send private message

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I agree with you Millwall.  And yes, there were quite a few burglaries - which I believe is quite common in new builds especially (and, in fact, just read on Manilva Life last week about an attempted break-in at Coto Real and another one last night somewhere else).

But yes, still a lovely place to be and not the "package deal resort" like some other places.

And you're right - the swimming pools are lovely!!


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03 Jun 2009 17:47 by franco49 Star rating. 1 posts Send private message

Hi guys, looking for a bit of guidance on a deal i've been offered in Duquesa at a development called Las Bugan Villas. The apartments are 2 bed 2 baths 85sq mtrs and valued at euros 320k. There's a 20k cashback incentive which is very attractive. I've also bene told there's a full insured 10 year rental guarantee ona 5% yield. I've also been told that it should enjoy 60% occupancy. The deal is being put together by ** EDITED - Please do not post peoples names, See fourm rules. ** Forensic Marketing. Basically he tells me he has taken the units from a developer who is about to go bust and with the help of the bank is hoping to sell them onto investors back in the UK.They are not off plan and ar ready for letting. They come fully furnished. How is the rental area in the area. The rental company which is looking after these units is caleld Royal Peninsula ** EDITED - Please do not post peoples names, See fourm rules. **  .  regards Frank


 



This message was last edited by EOS Team on 04/06/2009.



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03 Jun 2009 18:14 by Pitby Star rating in Andalucía. 1912 posts Send private message

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LOL!  I'm so sorry if this is a serious post!  But you really must be joking!!  And if you are not joking, again, my apologies, but you just took me back to 2003!!

The two bed/two bath you describe is quite a bit smaller than what we own in DV and priced quite a bit higher than the off-plan price in 2003!!  That should tell you something, based on today's economic climate!!

Rip-off comes to mind!!  Look at the current market value of properties in the area and then work it out for yourself - if it works in your favour and the returns are covered legally (cut in stone!!) then MAYBE think about it!! 

Personally, I think you should do a bit more research as to what you can buy for that sort of money in that area and, if you need to rent the place out to pay for it, DO NOT INVEST!!  Never put your money into property as an investment, on the back of renting it out, unless you can afford to lose that money!!



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03 Jun 2009 18:46 by Marcus Y Star rating. 7 posts Send private message

I was out in DV earlier this year, nice area but like a ghost town. Even taking into account it being out of season, speaking to some of the locals there looks to be around 60% of the properties empty so there may be bargains to be had there although unless something major happens in the area I can see it staying that way for a considerable time.

On a more positive note, again from some of the locals, crime is apparently down as the building work has stopped so some of the workers who may have been responsible for the crimes have gone back home.

Has anyone taken over the lease in the marina of the bar that's stood empty for a while, can't rememeber the name but the last one on the right as you head past the shops/restaurants on the Marina front.

Marcus





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03 Jun 2009 18:49 by TechNoApe Star rating in Duquesa, Manilva. 1291 posts Send private message

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Hi Franco49 and welcome to the forum.

One word... Rubbish!

Pitby is correct in everything she is saying.

These 'guaranteed rental yield' plans aren't worth the paper they have been written one, that's if this person has actually written it down in the 1st place!!!

The property is obviously way over valued and I expect that if you managed to get an 80% LTV mortgage, you would end up borrowing 256,000€ for a place that will actually have a selling price of considerably less. A good asking price would be, depending on the build quality, of around 200,000€ or less in today's climate.

Our 2 bed, 2 bath was purchased for a little more than 200,000€ three years ago, and it was a good price then, and is bigger than the one you are talking about.

You could get a small 3 bed Townhouse for the figures this guy is quoting, and if you look at the Holiday Rental market at the moment, you will see that things are much quieter than last year, however things do seem to be picking up as there has been a lot of people around over half term, picking up on cheap flights and cheap rentals.

I know someone that is selling a big 2 bed, 2 bath fully furnished for 180,000€ with a good valuation No! It's not us! But it is in the same small complex where we bought our 1st property.

And for a bit more than that, you can buy a huge 3 bed Townhouse in La Vizcaronda where we live, with private underground garage!

My advice for what it's worth...

Don't touch that deal with a bargepole!

 



This message was last edited by TechNoApe on 03/06/2009.

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03 Jun 2009 19:56 by advisor Star rating in London most of the t.... 316 posts Send private message

I have to agree with the majority, there are 2 bed 2 bath units all over Duquesa, Sabinillas and Manilva, with valuations of circa 230,000e going for 140,000e

In regard to the ten year guarantee it sadly appears non of these are enforcible in Spain and as for the cashback all this is-is a sales ploy all it really does is put the initial price up by..........20,000e

good luck either way



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