Are property prices recovering?

Hi all, was just wondering if anyone had any idication at all if the value of condado appartments are on there way back to anything like what we paid for them? I have a first floor 2 bed on garden 3 Naranjos (the closest to al qasar with a pool) overlooking the pool. Anyone have any idea what this would go for?

ive tried looking on websites but theres not many on there and i dont know if the prices are old. Maybe its going to take a while before paramount and corvera affect the valuations, until at least after they are functioning?

Thanks!

Naranjos garden 3 doesn't have a pool, so assume you mean garden 2.

Now is not the time to sell, the banks are selling apartments here at greatly reduced prices, so until all those are sold there's no chance of any increases in price.  Even when all the properties are sold, I doubt that there will be much movement in price until the actually breakground on Paramount,  I expect the real inceases won't occur until the park is up and running.  So, if you can hang on for another 4 years or so, then they might be back upto 2008 levels.

Adam,

You can now pick up 2 bed Jardines apartments for less than 70,000 euros(see the thread entitled "Cheap as Chips" for details). You can probably get a 3 bed Narajos for a similar amount from the banks, if you push.

Unless you have recently bought I am guessing thats quite a lot less than you paid. It is for me too

If you have a mortgage on the property of say 80,000.00 Euro that would have equated to aprox £61500 in early 2008, but today that same mortgage would stand at almost £70,000, so its kind of a double whammy... The prices are falling, yet the amount you owe the banks is increased.

You may have to hold on to your property for a while before its worth what you paid. Maybe consider a long term rental?

Adam, do you really already own? Or are you speculating on buying and hope for some inside info?

Either way there are many web sites with properties advertised and you can email them for their up to date prices and sales.

Although the 'cheap as chips' apartment is advertised as under 70,000 euro's most sites seem to be advertising the 2 beds as 72,000- 78,500 and the 3 bedrooms at  either side of the 80,000 euro figure, though I have seen some  at 94.000 euro's. However, that doesnt really tell us what the actual sale price ends up being as I believe most people are accepting offers once contact is made. Furnished or unfurnished may affect the price a little. Jardines style are proving more popular than the Penthouses apparently-  may be a bit more family friendly for renting- initially the golf break market was seen as hopeful for Penthouses but there's no money in that at present as a golf break requires more facilites that CdA can offer at the moment.. 

Yeah i already own the appartment (you were right garden 2 it is) bought off plan for a lot more than they go for now! Paid more though anyway for what i thought was a prime position.

Ok, so definitely not the time to sell now then, but hopefully in 4 or 5 years itll pay off if we can all hold on that long with very few rentals! Cheers for the info everyone. I hear a lot of are being sold a the moment anyway and it wont be long until they all have owners on the naranjos section, so hopefully that will mean more facilities for us...