The Market - Bottomed Or still more to come???

Hi Rod it is Los Granados del Mar - the urbanization between that and the Kempinski is Mar Azul - but fairly certain that has been around some time - the road definitely does not go all the way through yet to Los Granados but looks as if it might

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Aha! I think you are right (if  iremember!) You know your stuff-  many thanks for that - very hard to find any information on the development anywhere unfortunately! ;-)

 

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Which one Los Granados or Mar Azul - know a guy selling in Granados and he had a townhouse in Mar Azul a while back - seemed good value too although needed work done but reflected in the price - mate of mine looked at it but ended up buying at Alcazabar Beach - quite a bit further back towards Marbella there is Guadalmansa Playa but mega money although if I was looking for an apartment on the beach and had the dough would go for it - beautiful urbanisation and they aint building any more beach

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Smiley - Los Granados - not much info on the development on the web - plenty of Mar Azul! Sorry to be a pain, but the other development that you might know is slightly further on down towards Estepona  - it is literally beside a pretty large garage (Esso - I think!) abiut 300m up from the Carrefour (heading West), right on the beach - again in that Moorish red clay exterior finish. It was 90% built last summer so should be complete by now. Had a quick look and it seemed to be OK - but again - cannot remember the name! (next time I'm over I will be bringing a pen and notepad!!) ;-)

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ONLY GARAGE I KNOW OF ON THE ROAD INTO ESTEPONA BEACHSIDE  IS BP (I AM SURE) AND IS EAST OF CARREFOUR - AT LEAST I THINK SO GEOGRAPHY WAS NOT MY SPECIALIST SUBJECT DURING MY VERY EXPENSIVE EDUCATION - NO SERIOUSLY CARREFOUR IS THE LAST COMMERCIAL BUILDING BEFORE THE BEACHES START OTHER THAN THE DEVELOPMENT THAT IS GOING ON BEHIND CARREFOUR AND DONT THINK THATS TERRACOTTA IN COLOUR - SORRY DR K BUT I AM NOT AN ESTATE AGENT - YOU ARE PROBABLY BETTER TO SPEAK TO A SPECIALIST IN THE AREA - THEY WILL KNOW A LOT MORE THAN I DO (WONT HEAR ME SAY THAT OFTEN) - AS I SAY I KNOW A COUPLE OF GUYS THAT WORK THE AREA (INDEPENDENTS) WHO ARE ON THE LEVEL IF YOU WANT ME TO PUT YOU IN TOUCH LET ME KNOW

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Had a word with one of my contacts and she thinks the name of the urb might be punta plata or something like that if it is the one by the petrol station and car hire place. says it is a small urb that was developed by Italians - great views but a bit exposed and the bedrooms look out over the car park at Carrefour if she remembers correctly - interior qualities not fantastic but if you are on the terrace o verlooking the sea then one might be able to forget the shortcomings - estimates a 3 bedder in there should be about 400k ish but it is an estimate - knows someone on her urb (Alcazabar Beach) that has a place in there and will see if she can find out more. 

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Hi Smiley! I think the development is called Riviera Andaluz and that the garage is ESSO!!! I know the one right by the Carrefour and agree with your friends comments - it's way to close to the supermarket!!!!! I'll drop you a line re the independents (many thanks for that!) - I already have one looking for us who has been really good so far - you probably know him already!!!!!

Feel I am dominating this board somewhat - anyone else out there looking to buy who could also benefit from Smiley and Rixy's insight and would lke to exchange views???? If so - let's hear form you!! This has been really helpful to me as the more info you get prior to visiting means you can really target your developments and already have a "feel" for prices without being duped!

:-)

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Smiley, I belive Punta Plata is stopped as they didn't even have a building licence....but I'll have to check on that.

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I heard the same thing Justin, I think it was reported somewhere as well

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DrK there is definitely no Shell or Esso garage between the junction and Carrefour - it is definitely BP - I filled up there this morning - there is an Elf garage back towards the cambio but not beachside - the rust coloured urb beside the petrol station is Playa Del Angel - dont know the legal status but it is surrounded by barriers and did not look terribly productive there this morning.

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Smiley - I can't argue with that, I must be hallucinating! Do you know where Riviera Andaluz is, or am I imagining that as well!!! (must cut down on the drink!) ;-)

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nAME RINGS A DING A LING - SEE IF I CAN FIND OUT FOR YOU - NO PROMISES - AND DEFINITELY NOT GOING OUT IN THE CAR TO TRACK DOWN A MISSING URBANISATION - THIS IS SPAIN SO MANY OF THEM  HAVE GONE MISSING -SERIOUSLY WILL SEE IF  I CAN GET A HANDLE ON WHERE IT IS. 

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Hey there !

Riviera Andaluza, to my knowledge is a "vacation ownership" complex by Marriott´s...... just as you enter estepona, on the beach side before "El Presidente" as you go to Estepona..... the second they`ve built on the coast, the first in Elviria, just to the side of Don Carlos Hotel.

I worked for Marriott´s in the past century, they sell you "weeks" of time share, but I have to say that this must be the Mercedes Benz of the time sharing companies.

Cheers,

Juan.

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Yes, I think the market has bottomed out.

We have new builds in front of our Residencial Apartments, they have not sold all of the ones that are standing, let alone the next phase that they intend to build.

We understand that the next phase will not be started until the developer has ALL the deposits, so beware buyers, if you buy off plan, check when the builder INTENDS to start the build.

If he won't start to build until he has ALL the deposits (this could be a phase of say 100 units), you could be buyer number one, waiting for buyer number 100 to commit, scary!

You could be 3/4 years down the road before a brick is laid.

Also, look around the area at what is planned, if you "buy" off plan, you may be buying something that you later regret, because "nearby" something will be built that suits you better.

Don't rely on the sales person telling you that "nothing else will be built in the immediate area", this is SPAIN -  WISE UP!!!!

Regards,

 

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Hi all.   We have just arrived back in the uk from our winter holiday in Spain ( Costa del sol) the BUILDING BOOM IS OVER that was the statement in some of the papers about a month ago they also said they expect up to 3000 agents will go out of business in the near future also the property prices are starting to slide as they said prices are at least 30% too high these statements came from the building industry themselves and its now a BUYERS MARKET and they now say it takes 3 YEARS TO SELL but  the agents are not telling the new buyers this and trying to keep the prices up, we saw price reductions of 100,000 euro and they were still for sale 4 months later, we were looking in an agents window oneday and the staff rushed out and tried to drag us in but they ran away when we said the prices were too high ( if they had a fishing net they would have used it to drag us in thats true) we saw many agents closed up and we are sure this is only the start, one agent told us the truth that most of the buyers over the last few years were British (80%) and that market as nearly dried up but the really crazy thing is that they are still building in every corner they can even some of the Spanish people are saying its now too much building, we feel sorry for the people that would like to sell or are in this off plan nightmare with no planning/ or start dates. they should have a big splash in the papers in the uk papers to warn about offplan scam thats still going on and there are still many planning scandals going on in many areas so it really is BUYERS BEWARE and you dont have much chance of making any profit off plan or if at all. THE GOOD NEWS we had a good time the weather was very warm most of the time( up to 25 deg ) with only a little rain and we look forward to our next trip regards to all. Rose n

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Juan wrote:

I worked for Marriott´s in the past century, they sell you "weeks" of time share, but I have to say that this must be the Mercedes Benz of the time sharing companies.

We have friends with a timeshare  at this site (Riviera Andaluza,) and it is wonderful!

This message was last edited by Tish on 4/4/2007.

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Rosi N

I thought your post was very informative and i totally agree with you, yes, there should be some warning here in the UK for potential buyers.

But, agents here will still send lambs to the slaughter won't they?

After all, the poor things have to earn a crust...................

 

Tish,

IF you have to buy timeshare, ONLY buy from the big boys like Marriotts.

We didn't.

We paid £6.500 for a detached bungalow in The Palms Golf & Country Club Tenerife (Xmas week).

Had 4 years holidaying there, timeshare company let the place go to rack & ruin, lost RCI status, then had an "Owners" meeting.

To get it all back up to scratch would have cost us owners a mint, alternative? Give us membership of a dubious "holday club" and sell the whole complex off privately for a nice tidy profit to the Timeshare Company owners.

So, lost our money basically.....................

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MRI told me yesterday  'we are not aware of any slow down in the market in Murcia.'  Think if I tape the next converstion I could sue for misrepresentation??  Whilst everyone is agreeing that the Costa del Sol is suffering from an over supply, I'm hearing mixed messages about Murcia.  Also, apparently our development at Lorca Golf is being held up because the elections are in May and the current council isn't granting any building licences.  I'm rather hoping the licence won't be granted by September, because, according to my contract at least, I can request my deposit back. Wish I had gone with my original idea of buying a little resale place!

Dixie

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Hi All

Im new on here and have probably posted in the wrong area to begin with.  I am in the process of buying a property in Costa Almeria - Vera - Al Andaulus Veranda - we looked at the other developments of the builder which were good - we noticed that there was quite alot unsold from previous developments that we could have got a little cheaper but we liked the position of this devleopment.  Obviously when you buy any property you hope you wont lose money and we expect to keep ours possibly upto 10 years and hoping to buy one each (bought this one with other family) so we are giving time for market to recover.  We noticed lots of resales that had been up for sale for some time - and most as we tried were not willing to take offers.  We have gone for top floor 2 bed 2 bath south facing apartment which we feel will be a good long term investment -  what do you people think?

 

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I think you are probably OK  I have just bought of plan on a new development near Aguilas Released Jan 2007 2 bed 2 bath GF aprt with 90m2 garden paid 177400 € plus costs -30 % deposit with bank guarantee ready circa Jan 2009 -I have paid my deposit and by the time it is ready I expect to double my deposit -I will be keeping it as it is a great location for lets and private use

So whilst in some locations in Spain prices are sluggish there are still some excellent buys This part of Almeria has probably the best growth potential

The RICS Overseas Property Report 2006 for Spain states a 10 % increase and it states'Acute housing shortage [in Spain] continues,despite all the building: demographic pressures still exist and there is remains a seemingly insatiable demand by many Europeans for a place in the Sun

The Spanish Prime Minister has just bought a villa at Vera Playa.....only paid 450.000€....not as rich as Blair!!

Brian 

 

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