Any good news out there?????

Hi,  we have purchased a property on Gardens of Manilva Country Club.  I was just wondering if anyone has any good news about this development.  All I have read and heard is bad news.  Surely there is some good news???? I know it is difficult times but, I just wonder what others think about this development.  Do you feel it will all be ok after the financial turmoil?

Also, I would be intersted to think what people think who already won properties.  Do you wish you had never had them etc???

Very worrying times.  WE just want to make the best choice.  Is it best to walk away, with very little chance of getting money back or to take on a property in the hope taht you rent it out?

Many thanks

Louci

I wouldn't take on a property you had to rely on renting out to be able to afford. I think the Spanish and mainland Europeans will be the holiday customers this year with the Brits possibly staying away. There is a glut of holiday rentals, you can see how many just by looking at the advertising sites. A Spanish one I use went from 20,000 properties in April last year to 45,000 by the end of September!!

Sorry, don't know anything about your particular development though, have you seen if there is a dedicated forum for it on here? I am sure there is.

Mark

Hi Mark, tahnks for the response.  There is a dedicated sitebut, its all bad news unfortunately.  At a cost of 220000 with no leisure facilities (spa resturants etc) I feel it is going to be hard to rent and therofre may aswell take the loss now.  A mortgage would be around 1000 a month which is a lot of money to pay when all of the facilities are not as you purchased.

Loubi

If you take a look in the blogs, you should see the blog de maria at Costa Luz Lawyers (I would say PM her but you haven't made enough posts yet) to see what your options are. Maria has posted that you don't necessarily have to lose the deposit if it is too late, not up to spec, etc. It would be worth your time dropping her a line for input.

Regards

Mark

Hi Loubi

We were over near Gardens of Manilva at Christmas and had a ride around, we must say they are looking very nice (although not sure why they are cutting holes in the walls of some of the apartments) but as you say it is a bit of a gamble if there are no facilties, the only thing we would say is the properties at the front of the development appear to have fantasic views with no chance of them being disturbed but it depends what you want from your apartment - investment - well possibly only in the long term but who knows how long.  It is a big question do you bite the bullet and walk away or hang on and see if you can make something of it.  Are you a pesimist or an optimist?  One of us is a pesimist and the other an optimist, often the optimist wins.  We can understand you thinking the other thread always has bad news but then anything ovp have been involved in have in most cases brought bad news unless somebody reading this can tell us otherwise - it would be nice to hear for a change - could faith be restored?  We doubt it.

Jojan

Hiya, well the holes in the wall are something do with cracks?? structural maybe, which is not good news.  I have been optimistc about them but, I truly feel that the commercial centre etc will never be built and therefore any rental return / holiday retun very poor.  Ideally we would like to say that we are not signing for it until the commercial centre is built, but I feel that they will say well don't sign.  Decissions, decissions hey!!

Loubi 

You do have rights for waiting to sign till everything which was published is finished.

Publicity is part of the contract:  http://www.eyeonspain.com/spain-magazine/publicity-contract.aspx

Best wishes,

Maria