if paramount comes

 if paramount comes , what kind of rental income would we expect to recive for a week  for a 3 bed apartment , sleeps 7 ? , dont want to count my chickens but god knows we could do with the income 

I wouldnt expect too much more, there are over 2500 properties on Condado alone, so you will be competing with probably 1000 other people hoping to attract rental income.

I think Darren's absolutely correct (did I just say that? ha!) , I don't think rental rates will increase that much either, but (hopefully) bookings will increase considerably. Still about 4-5 years away though, even if it does come off.

There's a Press Conference today apparently (see link in the 'Paramount fills the newspapers' thread), maybe we'll learn more from that.

I'd agree with Darrens optimistic forecast on increased rents.

I'd expect increased rent would come from higher occupancy rather than higher rents.

 THAT WILL DO NICELY , CAN ORDER THE ASTON MARTIN NOW ,DO YOU HAVE A LINK FOR THE ARTICLE ?

If they do bulid Paramount I'm hoping some workers might need somewhere local to rent. What woulld the rate be for long term rental with or without bills included and can anyone recommend an agent for this kind of thing

Thanks

olga

I think often the construction company does block bookings for this type of accomodation via local agents and they bus the workers in and out. I know La Torre have groups booked into apartments during the fruit picking season- in fact CdA was built by such workers.

Olga I also know that this will be the hope of many owners and probably the fear of just as many. Its nothing to do with who the block bookings are for just that few owners had envisaged their 'place in the sun' being mainly full of shift workers who wont use the facilities so wont encourage PW to improve Al Kasar and aren't interested in the fact that CdA is a 'resort', you wont see them playing golf.

I do not say any of this in a discriminatory manner but experience tells me that long term rentals to any groups or short term rental to turnaround groups does not maintain property standards- they do not rent for a 'home' merely a place to sleep, eat and have a few beers at the end of a shift, home is where they send their money to.

Isnt there an arrangement already in place with the Banks of rent for several years at 250 euro's per month which includes Community Charge paid then an option to buy with all that rent deducted from the purchase price. So can't see long term rental achieving much more as utilities also have to be paid. Would cover mortage and CC for an owner but minimal profit to ofset against any later refurb.

Its a long way off before any accomodation for workers is needed. Besides there are many, many unemployed in the wider local area who can be bussed in from relatively local collection points without needing living accomodation.  For example, Murcia city isnt that far away and has a major problem with qualified workmen unable to get work and this is replicated across regional towns and villages- you'd hope the  work would go to the Spanish registered unemployed as with the Corvera Airport staff. CdA isn't theonly place with empty rentable properties either so it's unlikely they would all land on CdA en masse. If the theme park gets built then maybe at its peak building point we may see some properties used in that way but hardly from day 1.

However, Tony, I think you make a valid point that any sort of long term lets related to the theme park wouldn't particularly benefit CdA in relation to the Al Kasar , Sports Zone or the golf course.

I'd hope that if the project actually gets investment then PW might eventually return to parts of CdA and their renewed interest might stimulate more buyers and encourage PW to improve the Al Kasar and facilities as well as having the knock on of improving the holiday rental  trade.

But for now its just a waiting game.

Was I being unduly pessimisstic- maybe. Its true the employment market has changed even from 4 years ago when  employers had to bring in people from far and wide because the locals were already involved in projects, so yes, that would affect any long term rentals. Cheaper for them to bus people in for an hour or so rather than pay for accomodation.

However, I just dont want people to niavely think that the theme park would be the answer to their financial problems. You wont really rent to a couple of 'nice' office professionals and I'm not stereotyping I'm being realistic- its more likely 6 burly construction workers and you really have to be a landlord then and you need a really good keyholder who is able to deal with complaints for you.

If it were me I'd want to clear the apartment of everything but essentials- so I'd have storage costs, I'd want a cleaner once a week in order to keep on top of cleaning and to maintain my apartment and keep a check on damage etc, I'd need a letting agent as I'm not local so need someone to be a point of contact and deal with problems like the washing machine breaking down. All of which cuts into a very, very small monthly income. Companies rent apartments for as many workers as they can squeeze into them, as they want to get the optimum for their outlay.
 

So, yes I'm getting ahead of myself as the deal is even done but people need to be really aware of what long term rental means in these circumstances as it isnt necessarily to the cure to their financial problems.

But, as you say Jann- its a waiting game and hopefully could have big benefits for CdA in other ways.

If any owner seriously thinks renting their apartment out to construction workers is a good idea - then they need to get their heads tested. Properties will be recked very quickly and the reputation of the resort will be damaged for years to come.

If rental income is what is required to make properties affordable for some, then a focus on maintaining and developing facilities and full occupancy as holiday owners or leisure based residents is the thing to concentrate on.

If Paramount does arrive then interest from speculators will be intense and people who are struggling with mortgages etc will be able to ofload then.

I am out here at the moment and having looked at what I think is the location for the theme park, the decision to build it a little further down the road is the best option for us. Less disruption, less traffic and the prospects of someone (Polaris) perhaps one day re visiting the options to expand the golfing facilities and build the Oasis which would be a relevant and fantastic attraction to visitors to the theme park.

The deals for land are now in place and investors have a year to drum up the cash. Let´s hope the Spanish economy can stay afloat as that is the thing that could derail this project if the Euro goes under with a return to the former currency as that would give us decent exchange rates but would scare investors away.

Jon Faulkner

T.Q.M.  do you own on condado ?  and are you on medication ? 

They had workers on la torre a few years ago, DONT BOTHER WITH RENTING TO THEM,6 workers in an apt, they worked shifts at a factory,so  you allways prople coming and going at all hours, washing was allways being done so they would hang the washing over the balconys it looked a mess..They would be hanging round out side the apt blocks drinking and smoking  and chatting.Not nice when you wife is staying at the property on her own. Another thing that was not good was they would all meet in a morning to see if they got hired, for work that day, if they did not get hired for the day they would hang round the swimming pools and eye up all the women and young girls And not to forget  wear and tear of the property and electric & water bills. people had to refit the properties when they had done. DONT DO IT

Henry14, I do part-own on CdA but, no, I am not on medication- though I occasionally take paracetomal or cold and flu remedies

. I just live in the real world of property selling, renting and keyholding. I also have many years of experience of holiday based resort rental, cruise holidays and buy to let. I write for magazines and newspapers and holiday brochures- you will likely have read articles written by me. I was persuaded against my better judgement to buy on CdA 1 and we were to have a golf suites apartment- they were cancelled by PW and we moved to a shared ownership with my inlaws to Jardines- they own a couple of apartments.  I can now visit rarely but want my property to do well eventually and have grown to like Condado- hence my voicing of my (experience led) opinion. If you dont like it henry-14- tough! I'm in the business and have only recently moved from Spain  to Portugal in my work- I doubt you are in the business at all but if you are you'll understand my opinions and desire to share them to the uninitiated. As Faulky and Newworld share my  outlook I feel that you, henry14, are out of sinc with general opinion.

But cest la vie- you'll learn.

OOps-another thread bites the dust!

T.Q.M   say no more your just proved me right .

Henry,

Does the 14 in your title refer to your age?  TQM is only offering an opinion, which seams to be based on a wealth of experience. However I'm sure TQM will be first to accept that it is only his opinion and you or any of the members have the right to discard but not disrespect TQM's opinion.  I would suggest that if you do not agree with any opinion offered on this forum you should exercise your right and offer any costructive critisism you may have.  Should you have nothing constructive to offer and only wish to insult, I suggest you simply shut up and say nothing.

Out of order!!!  I'm sure 100% of readers don't want it to resort to this sort of language!!!  take a chill pill go sit on the naughty step for 10 mins then come back and be polite it costs nothing to be polite but is worth a lot

Hi Henry,

Original response on the age thing.  May I take this opportunity to point out the fact that things did not work for you is regrettable but not the fault of any individual on this forum.  Im glad you realise that the forum is not a place for the sort of insulting aggresive attitude that we are witnessing, therefore I wont expect to hear from you again.