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I am interested in buying a property for retirement in Murcia region Spain, and personally think now would be a good time to buy, I have registered with several agents for information and have been sent Information about Bank repossessed properties in United Golf Resort La Tercia
The prices seem really low at 33,600 for a 1 bed, 1 bathroom and 38,600 for a 2 bed, 2 bathroom property, does anybody know anything about this place or if it is worth buying…..the prices seem really good to me but is there a catch?
Many ThanksProperty Status: FOR SALE
Price: €38,600
Extra features:
2 BEDS 2 BATHS BANK VARIOUS
SOUTH PHASE RM20 REF UG600 70% MORTGDescription:
These Bank-owned properties have just been released and have had a huge amount of interest and many reservations already.
United Golf Resort is situated just next to the Spanish town of La Tercia on the Costa Calida coastline in the region of Murcia. The airport of Murcia San Javier is situated just 15-20 minutes away and the new airport of Murcia International is 15 minutes away (due to open April 2013).The beaches of the Mar Menor are 15 minutes away.
The resort has been operating for many years. The apartments just released are completely finished and key ready. These have been repossessed from the original builder. All the apartments are South Facing and look out over 2 swimming pools and the Golf Course. The United Golf Resort boasts:
Fully gated resort with security services
9 hole Golf Course (fully operating)
Various communal swimming pools including two full size and two childrens pools just in front of the apartments on sale
Tennis Court
Full size Bowls Green
Fully equipped Gymnasium (free for owners)
Five-a-side Football and Basketball multi-purpose pitch
Golf Club House
Pro Golf Shop
Beach within 15 minutes
15 minutes from Murcia San Javier Airport and 15 minutes from the new Murcia International Airport (given the go-ahead to open this April)
Just 30 minutes from the proposed Paramount Theme Park due to open in the Spring of 2015 (direct rival to Euro disney).
The High-Spec apartments boast 2 Bedrooms, 2 Bathrooms (some ground floors have one large bathroom), marble flooring throughout, fully integrated AC/Heating system (ducting system), some designs come with white goods included, Satellite TV ready (requires contract), Broadband-ready, integrated vacuum system, and South Facing terraces. All look out towards the 9 hole Golf Course. THE MINIMUM DISCOUNT IS 87,080e!!
All apartments have lifts and off-street parking. There is also security onsite.This is an amazing price for a 2 Bed 2 Bath Apartment of this standard in the South of Spain this close to airports and the beach and we have already sold many properties since the launch!
You can download the e-brochure below.
Please contact us for more information there are a LIMITED AMOUNT OF PROPERTIES AVAILABLE!
To be sure not to miss out on this huge investment/lifestyle oppurtunity contact us now!
eBrochure: Download eBrochure Here
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Probably differs a lot but lots of people have exteme problems in that resort. They even have a hidden forum on there only for members and I guess thats where you get to hear about some honest stories about living there.
http://www.murcia-golf.co.uk/forum/index.php/topic,42.60.html
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Assuming on the face of it ‘knight’ is a genuine poster on here.
I happen to know this so called ‘resort’ quite well. It’s cheap for a very good reason. If you go there you will see apartment buildings in a semi-state of collapse due to poor construction and subsidence.
They have serious debt problems with over half of the properties unsold and the ones that are about 25% of owners don’t pay their community charges. So much needed repairs are not carried out. Crime is also an issue since as a gated community they were forced to get rid of their security guards. Much of the surrounding countryside is derelict with half build bankrupt developments.It’s in the middle of the boom docks and all the services and shops have left long ago. I am also told there are many legal issues still unresolved concerning the building of the place.
All that said on the positive side it does have quite a good nine hole golf course and club house. 🙂 My best advice don’t touch it with a barge pole.
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During more prosperous times, golf resorts sprung up all over Spain. The first ones offered fine golf courses and luxury houses for the residents and visitors, mostly in Andalucia and Valencia, barely affordable by the masses.
Then the cowboys moved in to build much cheaper places for the masses, and discovered Murcia, the smallest and cheapest province in Spain. What they built has to be seen to be believed, and I’ve been down to see it.
The whole lot was built on sand, and is now collapsing into it. Within a few years the desert will reclaim its land, and the dangerous digging in an earthquake zone may also take its toll.
When you buy a property in a place that is collapsing all around you, cheapness is not an issue, it can never be cheap enough.
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The province of Murcia is blighted by these golf developments. On my last visit I counted about 16 of them all in a relatively small area of agricultural land. I can only speculate how they all were allowed planning consent. I mean how many golfers are there who want to play in Murcia?
They were financed mainly by the now defunct cajas. Millions of Euros were poured into these developments on the expectation of a never ending supply of gullible foreign buyers willing to pay over the odds to live on a golf course literally miles and miles from anywhere. They even built a new airport at Corvera which they did not need, is still not open and unlikely to for years. Almost all of the developers are now bankrupt.
Murcia is still a backward region with a very harsh desert climate. Excruciatingly hot in summer and cold in winter with horrendous sirocco winds that blow incessantly from the north. Really great for golf.
I studied the region with an eye to investment and arrived at the conclusion that it had no future at all. Most of the half built developments need to be bulldozed and returned to growing tomatoes.
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‘Gullible foreign buyers willing to pay over the odds’, I suppose it applies the world over, but especially so in Spain which is the country we are discussing.
The Spanish developers I know personally, and I didn’t get to know them through any business dealings with them, a couple of them were former neighbours, are still recovering from the shell shock that gullible foreigners have stopped buying their over-priced properties. They’ve had to hand the BMWs back and no longer walk about in Armani suits that never suited them anyway.
Taking it further, Spain, the country, is adjusting to the latest truth, and just one word describes it best of all, austerity. Their media and the internet informs them that they’re not alone in their suffering, and they are adjusting, slowly.
I’ve got Spanish builders in my house at this very moment, their banging away is disturbing me, but what I’m paying for their work is a lot less than I would have had to pay six years ago, a lot less. And they’re not as frantically busy as before, the quality of their work is improving as well. At least, I’ve got my fingers crossed.
Later, we’re going to do most of our weekly shop. The prices are down and the service is much better than before; Carrefour is practically giving Teachers whisky away.
If you’re not looking to buy (a house) in Spain at this time, it’s a great place to live.
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@logan wrote:
They were financed mainly by the now defunct cajas.
The ‘lovely’ CajaMurcia is now Banco Mare Nostrum…. dumped with them is also CajaGranada
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ps, i’d also heard that Murcia was actually quite a wealthy area, lots of industry and being smaller than other regions it actually wasn’t in so much debt??
Agree about a lot of golf courses needing to be turned back into agricultural land. One golf course uses the same amount of water as a whole town does each year!!
There are a few golf resorts i’ve seen which were turning into ghost towns of badly built shells.
The only one which still looks good that I know is Desert Springs
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Isme – Murcia requested millions in a bailout from central government last summer just to keep it going this year. The region is bankrupt along with most others and renown for being one of the poorest regions of Spain.
I agree Desert Springs is a good example of how to get it right but that’s in the province of Almeria. It was built by British developers and perhaps that made a difference.
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The Gov. pay for various Palomares residents to have tests in Madrid every year and they’ve found that they are all fine…. but I guess they have to be careful. If you ask those who saw the plane come down it wasn’t that side where Desert Springs is… but the joke is good and said by many locals who live there as well 😉
I thought that Murcia was ‘ok’ because it was much smaller and there are various meat and veg factories there? Or is it the typical case of the very wealthy Spanish actually being those who ride around on old bikes wearing old clothes whilst having bank accounts which would leave you open mouthed (we are talking Spain here, not TOWIE style Essex show off ‘wealth’) ?
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Andalucía unemployment is over 36%, around 40% in Cádiz province
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@katy wrote:
Andalucía unemployment is over 36%, around 40% in Cádiz province
And about the same proportion of people work in the black economy, which partly explains why there hasn’t been a revolt.
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@mark wrote:
@katy wrote:
Andalucía unemployment is over 36%, around 40% in Cádiz province
And about the same proportion of people work in the black economy, which partly explains why there hasn’t been a revolt.
According to the apologists, like they all gave up their jobs in the public sector etc to work on the black 🙄 What would all the people who have lost their jobs actually do in Cádiz it has always been a poverty place even in the boom. You have to have people spending to support a black economy.
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@logan wrote:
In Murcia and Almeria the black economy is thriving with armies of field workers toiling, planting and harvesting vegetables. Most of them probably illegals. I’m told they sleep at night in the plastic poly tunnels. 🙁
Many working for 4€ per hour 🙁 and it’s seasonal!
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It’ll be interesting to see if the 50 Euro autonomo fee for young people will affect this working on the black.
Moving article here on how educated Spaniards are trying to get around the crisis by changing the focus of their work, and by moving back to the family home to save money, but the high costs of starting a business do not help.
García and Vivar each pay €500 ($675) per month for office rent and social security contributions. They take part in contests for public buildings, as well as Europe-wide bids. But rarely is the prize money enough to cover the cost of drawings and models. They would not survive without the support of their parents.
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DBMarcos99 wrote:It’ll be interesting to see if the 50 Euro autonomo fee for young people will affect this working on the black.
Moving article here on how educated Spaniards are trying to get around the crisis by changing the focus of their work, and by moving back to the family home to save money, but the high costs of starting a business do not help.
Quote:García and Vivar each pay €500 ($675) per month for office rent and social security contributions. They take part in contests for public buildings, as well as Europe-wide bids. But rarely is the prize money enough to cover the cost of drawings and models. They would not survive without the support of their parents.What’s wrong living with their parents? In tough times it is good to find a welcoming roof.
And I would advise them to save some money by eating/drinking less. They are quite chubby for ~30year olds.
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@mark wrote:
@katy wrote:
Andalucía unemployment is over 36%, around 40% in Cádiz province
And about the same proportion of people work in the black economy, which partly explains why there hasn’t been a revolt.
Someone should have told this guy about the jobs in the black economy before he threw himself out of the 4th floor!
http://www.diariosur.es/rc/20130208/sociedad/hombre-suicida-cordoba-tras-201302081451.html
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@DBMarcos99 wrote:
It’ll be interesting to see if the 50 Euro autonomo fee for young people will affect this working on the black.
Moving article here on how educated Spaniards are trying to get around the crisis by changing the focus of their work, and by moving back to the family home to save money, but the high costs of starting a business do not help.
García and Vivar each pay €500 ($675) per month for office rent and social security contributions. They take part in contests for public buildings, as well as Europe-wide bids. But rarely is the prize money enough to cover the cost of drawings and models. They would not survive without the support of their parents.
What a sad and moving article, thanks for that. I remember politicians going on about education, education, education and agreed with the mantra at the time, and may still do.
But if we educate all our young people to degree level, who’s going to drive the buses and build the houses?
Having said that, we’ve got Spanish builders in at the moment and they’re noisy, not just with their banging about, but also with their incessant talking at shouting level. I overheard one of the younger ones today talking about his degree from a northern uni. He was mixing cement at the time.
But I know they’re well paid, because I’m paying them.
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oh god how sad, how very, very sad that a little girl has lost her father due to the stress of a blooming mortgage. How sad for their whole family. These are the cases where they more than likely just wanted to buy a ‘home’ for the family to live in. They weren’t investors or con merchants out to harm anyone, just a family who wanted their own home and then when they had no job had to decide to buy food or pay the mortgage. It’s hard reading it.
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