ANY PROBLEMS WITH BUYING RESALES ?

Since yesterday Ive been looking at comments about the development, as well as CDS and CDSS. Id just like to say that Ive found everyones comments, opinions and suggestions to be tremendously helpful and useful - long may it continue. I am an investor in a unit at PRG.

My reading and initial conclusions as to what is happening, having done the aboive research, are as follows:

1. CDS is a completely different development with a different focus, although the Developer, Interlaken, is the same - the marketing agents are different. Expectations for buyers at CDS were apparently raised too high by over-enthusiastic marketing;

2. PRG and CDSS are the same development with the same basic specifications for the apartments. The units that have been released for sale by CDSS are in different blocks from the PRG units;

3. Has anyone noticed that the offer prices for the apartments released by CDSS are lower than those at PRG? For example, a two-bedroom penthouse at PRG cost either EUR360K or EUR342K depending on the block whereas CDSS are offering them at EUR317K. Differences that might account for this are:

    a) the location of the apartments within the complex - the PRG apartments which were released first, are better positioned;
    b) choice of season ticket at Emirates Stadium or payment of legal fees as part of initial promotion;
    c) use of Arsenal member database for eventual rentals;
    d) quality of furnishing.

   Nonetheless, it does appear to me that we may have overpaid somewhat - meanwhile, CDSS is promoting a 10-15% offplan capital gain in the first two years as a result of their pricing.....I have asked PRG for a clarification

4. More worrying than this are the comments by buyers at CDS (development below ours) regarding the performance of the developer Interlaken - we shall have to wait and see what happens, and just hope that they do better on this project (which is, one must admit, totally different in its focus, being an aparthotel-type investment). The Arsenal connection gives some comfort although limited!

On another subject, has anyone started looking around for a mortgage yet? Any suggestions?

Best Wishes to all.

usually the developers offer a mortgage. Im not sure about this one but my other place in Duquesa charged 1% for not taking their developers mortgage, senora

Sorry chaps, been away for a bit. Thanks for the replies to my contribution (Ianmack and luxman) and its good to see others getting on the message board. I've been a bit busy. When I took in all the messages boards everything seemed so negative. I expected there to be bumps and twists and turns and your comments have only served to confirm what can be expected. However I also agree with timhei below. I trust to some degree in the words of the sales reps and office staff who I spoke to after reading the boards. But not to be ignored are the contributions of other's who have more real experiences. Our development is not due for completion until December and the Kasamia people have an invested interest in making the apartments marketable and appealling to holiday makers and golfing enthusiasts alike especially as those of us looking at this as an investment have a 3% guaranteed return. If the properties are not finished to high spec then they wont make the returns they need to break even and pay the guarantees. Maybe nieve but who knows.

I've been sorting out my NIE number. Visited the Spanish Consulate in London and completed all the forms duly and received confirmation they'd been despatched. Still waiting for confirmation of the number at a relatives residence.

I haven't visited the site yet and probably wont have the time to get out there for a while so if anyone plans on visiting and can take some snap shots that would be great. I will be forced into keeping an eye on things from a far. Haven't got a mortgage arranged yet but it can take several months I'm told so best get my skates on.

Must go. Interesting reading so far.

 

cheers

JB

There are a few photos posted on this site. (Not much to see) I'll be going to site January and will hopefully take some more photo's. Has anyone signed for the 3% guarantee yet, and had the rental side of things explained to them fully ?

I would like to comment regarding the Pueblo Real Golf complex supposedly endorsed by Arsenal Football Club.  The promotors of this development claim that Arsenal FC carried out a due diligence report before entering into the joint marketing of this complex.  In fact I think you will find that no such report was carried out and that infact Arsenal FC have no involvement whatsoever.  The builder Interlarken has no knowledge regarding the themed Arsenal on site bar.  I am sure Arsenal FC would be very interested to find out how their brand has been misused to sell second rate properties on the Costa Del Sol to trusting fans.  The company promoting and selling these properties football villages have now moved on to a second development only this time they have the endorsement of many other premiership clubs and no longer seem interested in Pueblo Real Golf, as they have no after sales department and cannot provide any answers to purchasers, they are promoting their new development on thevillagespain.com caliming they promote properties worldwide when infact their only venture into the Spainish property marktet was selling propoerties at pueblo real golf by misleading purchasers like myself.  I am now going to appraoch the press along with Arsenal Football club as i have had no response from football village.  I wonder what sky sports presenter and event speaker of footballvillage would make of this.  .  

I would like to comment regarding the Pueblo Real Golf complex supposedly endorsed by Arsenal Football Club.  The promotors of this development claim that Arsenal FC carried out a due diligence report before entering into the joint marketing of this complex.  In fact I think you will find that no such report was carried out and that infact Arsenal FC have no involvement whatsoever.  The builder Interlarken has no knowledge regarding the themed Arsenal on site bar.  I am sure Arsenal FC would be very interested to find out how their brand has been misused to sell second rate properties on the Costa Del Sol to trusting fans.  The company promoting and selling these properties football villages have now moved on to a second development only this time they have the endorsement of many other premiership clubs and no longer seem interested in Pueblo Real Golf, as they have no after sales department and cannot provide any answers to purchasers, they are promoting their new development on thevillagespain.com caliming they promote properties worldwide when infact their only venture into the Spainish property marktet was selling propoerties at pueblo real golf by misleading purchasers like myself.  I am now going to appraoch the press along with Arsenal Football club as i have had no response from football village.  I wonder what sky sports presenter and event speaker of footballvillage would make of this.  .  

Hi Tonii,

I have been talking to Sarah at football village and put the issues you raised to her and she has assured me that the due diligence was definately carried out. (this is stated in our contracts). The theme bar is nothing to do with Interlaken and football village are waiting for the commercial units to be released (to which they have 1st option) so they can go ahead with their plans for a sports bar.
Can I just add, Sarah and Lene were very helpful and assured me every thing was ok.

This message was last edited by salsy29 on 2/7/2007.