[Anonymous]

I have received a mail shot from Solvia about Bahia Plata, I have heard so many stories about the development. What is the update with the forum users.

[Anonymous]

You may recall I tried to buy an apartment when phase 1 was being sold by the Bank. It took me 5 days to get an appointment and when I did the place was teaming with people and 24 hours later after selecting an apartment I was told it was all sold out. I posted on here to give an insight as to what was happening with the market. My point at the time was it’s not all doom and gloom if half a development can get sold out in 6 days. I was met with the usual suspects posting that it’s all a scam and I will be contacted with units that fail to complete etc etc.
Well nobody ever did contact me and as far as I know everything in phase 1 has completed and nothing is available.
Phase 2 has now been launched but with prices up 65% for the better units it no longer looks a great bargain and I will not be buying.

[Anonymous]

I recall your posting & was wondering if you would respond. I agree that the prices are not bargain prices & not to mention that the Bank products i.e mortgage rates, opening fee etc will add to the overall cost and finally the Hacienda will come to its own valuation and there will be more to pay as part of fines etc..

I am also concerned with the quality & the finished product even allowing for Spanish standards as the Bank will cut corners in finishing them off.

[angie]

shakeel, I remember this well, when it was first posted on here the impression it gave was that it was the whole site that was selling fast. After digging it was found out to be roughly half the site that was for sale and by many agents too, the other half was to be sold by another Bank as I recall. Some of the original did not complete I was told, but whether they then contacted their lists probably sold them on, best units were already reserved a bit like the old days, probably by sales staff/buddies.

The thing is despite asking, no-one seemed to know the original pricing, you know the REAL price, yet they could advertise it with discounts up to 70% I think. Their current worth presumably will be what the 2nd phase units sell for. Were the community fees mentioned too, or had it not been set at the time? 🙄

[angie]

shakeel, you asked the same question in Dec 2012, did you want one of these properties? I understood you own a property in the CDS, why not drive down there and get an up to date picture of this site, you know it makes sense 🙄 😉

BTW shakeel any chance you could post on here the mail shot you mentioned above from Solvia relating to this site? 🙄

[Anonymous]

Hi Angie, I don’t have the mail shot as I had deleted it. If I recall it was like a monthly email shot with emphasis on Bahia plata. On Monday I received an email from an estate agent without mentioning the development. They were asking for 4% admin fee plus VAT if we buy.

I am not in CDS at the moment and even if I was there. There is no way I can get a comprehensive answers to my tried & tested test questions to do a basic due diligence. Most agents do not wish to answer the questions & to be fair to them they will not have the answers. Remember they are doing us a favour by turning up to work so we have to be grateful to them to not rattle their few brain cells.

In addition to the above you are correct the good ones have been sold to the “enchufes” or given as kick backs. There is an agent adjacent to the development. He does not have any of the properties to sell and had relied on rumours etc to answer people asking about the development.

[Anonymous]

@shakeel wrote:

They were asking for 4% admin fee plus VAT if we buy.

Can you clarify what this means please? Was the agent asking for another 4pc on top the sales price? In return for what?

[angie]

shakeel, I don’t understand this either, the 4% thing 🙄

Also, your post was confusing in that you say in the present ‘I have received a mail shot from Solvia’ but when asked to post it you you say ‘I had deleted it’ as in the past. 😕 Are you saying your latest email from an agent refers to the Bahia de la Plata?

I’ve looked on Solvia’s site and recent updates and can’t see anything about this 🙄

[Anonymous]

@ Mark. Yes this was my understanding. The reasons could be that they are not getting any commission from the Vendors or feel the percentage was not big enough. On the other hand they may feel that the buyers are getting a discount & they should extract some funds out of them.

@Angie
shakeel, I don’t understand this either, the 4% thing

Please see above.

Also, your post was confusing in that you say in the present ‘I have received a mail shot from Solvia’ but when asked to post it you you say ‘I had deleted it’ as in the past.

I meant the recent past say between two or three weeks ago. As I know that none of these emails can be taken seriously. I read them for knowledge purposes 7 delete them.

😕 Are you saying your latest email from an agent refers to the Bahia de la Plata?

The latest email which was asking for the 4% com plus VAT, was from an Agent in addition to the earlier one that I received from Solvia. It did not say ” Bahia de Plata ” but the photos,description, prices were of Bahia.

I hope the above clear things up.

I’ve looked on Solvia’s site and recent updates and can’t see anything about this

[Anonymous]

Here’s what I know from talking to people here:-

The second phase is owned by Prasa and financed by Catalunya Caixa Inmobiliaria/SAREB. The first phase was a different bank.
Catalunya Caixa and SAREB have agreed sales prices for the 122 apartments of the second phase but are not paying estate agents any commission so hence the 4% mentioned in earlier posts. I guess each agent will charge what they want.
The prices I have been quoted are as follows:-
One bed room apartments without views and with one parking spot starting from 199,000 €
Two bed room second line apartments with partial sea views and two parking spots starting from 247,520 €
Three bed room second line apartments with two parking spots 275,520 €
Two bed room frontline apartments with two parking spots starting from 364,000 €
Two bed room second line penthouses with two parking spots starting from 402,840 €
Two bed room frontline penthouses with two parking spots starting from 467,280 €

I’m not interested in buying at these prices so I haven’t done any more research so I cant say if these prices include the agents commission (he hasn’t mentioned anything about commission so either they do include it or he is planning to add it on at a later date.

Previous posts question the “original selling prices” and infer that because these are not published or known there is something not right. I don’t think that is the case. I cant remember if I ever had the “original” prices but to me it was irrelevant. I knew what this sort of beachfront complex in that area was being sold at in the peak of the market and I knew what similar developments were being sold at when I was considering buying. I knew that I was getting a good deal and was happy to buy. Unfortunatley lots of other people thought the same and I missed out.
I think th new prices are too high for it to be classed as a bargain but time will tell.

[Anonymous]

“I think the new prices are too high for it to be classed as a bargain but time will tell.”

Agree with you and we have not seen the mortgages that are being offered. Personally I feel it is important to have a
mortgage for reasons of current exchange rates and to negate inheritance tax and/or wealth tax.

[Author]

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