Corvera Golf Resort

Hi Folks, I'm thinking of buying a property in Corvera Golf Resort as a 2nd holiday home and investment. I am aware of the current situation relating to the golf course etc.

I would be grateful if someone can please explain to me how much community fees are? and also how much these have increased in the last few years. Who decides how much the fees should be and is this based on the number of current property owners?

I am concerned that I wont have any control over this aspect and that in years to come the fees might become too great?

Many Thanks, Ian

The response depends on which phase you are looking at, the M number because the rates can vary dramatically 

Thanks for the response inspectahomespain, are there any current residents that are able to advise on what my community fees would be for a 3 bed 2 bath ground floor appartment or 2 bed penthouse appartment please?

Are there any additional community fees as a result of bad debts at Corvera? or as a result of other properties not being sold.

If the bank is selling a property should these not be debt free?

It depends on what phase you are looking to buy as these are all individual communities with their own budgets pools gardens etc, all different community fees

The various phases are all prefixed by M  followed by numbers, the bank or seller should be able to guve you this and a firm number for the 2 lots of fees, the community fees, paid to maintain your phase and the Entity fees, which cover the roads, rrubbish collection, street lighting etc

There are communities for example that have been paying an additional €500 - €1000 per annum in special levies while the banks sort of the bankruptcy of the original developer

Yes the banks should discharge any debt but you need to use the services of a lawyer to check this, before completion

Hi,

I have a 3 bed 2 bath ground floor apartment on M30 and can tell you that the community fee is approx 275 euros per quarter and the entity fee around a further 105 euros per quarter.

Hope this helps.

Hi 

I own a 3 bed penthouse apartment on m 26

we pay 330.00 community fees and 129.00 Entity fees every quarter, the Entity fees have just increased by 20 euros.

im afraid you don't have a say on this, if and when housing decide to increase the fees you just have to cough up.

Inspector home is correct when he says that some owners in there respective communities have been made to pay out payments as levies On top of the usual payments, to date I have payed out 2 levies of 300 euros.

we were promised this money back when the community bank balance improves and the debaters pay up

although a certain bank did pay a considerable amount of debt to our community I am still waiting to be reimbursed

so my advice would be to ensure that you know the finances of your community and also find out exactly what your quarterly bills will be, don't forget you also have water, gas and electric standing charges.

It costs me about 3500 euros a year without setting a foot in our apartment

I don't want to put you off but this information is not forthcoming from the people showing around hoping you will buy

i hope you find what you are looking for at Corvera, I don't know how these costs compare with other resorts, I don't even know how it compares with other communities within the resort

Kind regards

Dave/Maggie, Thanks for the information, this gives me something to consider, I appreciate it.

Hi Reidy,

We have a two bed two bath apartment in M28 it has cost us about €200 per month over the last year, this includes everything - community/entity fees, council tax, insurance and all utilities (including usage).

As Roy states it varies from community to community.

Sooerry Maggie but based on those your numbers where you state that it is €200 per month for everything cannot stack up

Annual Community (without any levies) €1100

Annual Entity €516

IBI Council Tax €300 annually

Monthly standing charges, the issue here is that you have 3, water, gas & electricity annually €840

Total annual €2756 or €229 per month, before use

You then need to add, non-residents tax, insurance and keyholding fees, around €1100 annually

Hi Inspectahomespain,

As the original post was  regarding community fees and entity fees I was just quoting what mine have been since we purchased last year. I didn't say that this was the total including all other costs such as Council Tax and utility standing charges/bills etc! Obviously these are in addtion to the community and entity charges. I think you'll find if you read my post that I didn't quote 200 euros per month all in!!!

Mr Inspectahomespain,

You have missed the point, it is I that stated €200 per month, not Maggie.

I care not whether you think the fees stack up, those stated are what we have paid in the last 12 months.

Yes you have knowledge of Corvera, but not the comings and goings of my bank account.

Regards