12 May 2008 12:00 AM:

My wife and I reside in the USA and are considering reserving for purchase a 2 bedroom penthouse in the Phase 2 development, which will come on line in December 2009.

We have visted Nerja a number of times and love it. Our plan is to finance the purchase to the extent we can ( 70 to 80%) and then rent the unit out year round .  Our idea here is that we can allow Euro rental income to pay or defray the Euro  mortgage.  This way we also avoid using our UD dollars at a time when the exchange rate is very bad.

We are looking for any information/gossup we can find about the development.  How sales are going, are buyers generally happy or disgruntled, and most importantly any information we might get about rental potential.  When we have visted Nerja in the past we have stayed at front line apartments, which I know from talking with the owners and web searches  are successfully  rented out year round. Do I have any raason to think that wont be the case at Calaceite?  I am particularly concerned about  noise and activity from construction on the site affecting  rental potential.

Thank you for any information you can share or other blogs I might want to visit.

Mike/PDX

 

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