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In 2006 we put 56k euros deposit on an apartment on Costa Esuri. To cut a long story short the company Martinsa Fadesa went into administration in 2008 and although our apartment has been finished the quality is poor and the company has not delivered as expected so we have not completed. Our solicitor in Ayamonte does not respond to our emails and calls and we have pretty much written off ever getting anything back. Does anyone have any information on the court administration. The company is still selling – are we likely to ever get anything back? Surely they cannot sell our apartment until they have dealt with us? However I am not sure who would want it – the place is like a ghost town.
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Not heard a single thing although people say we will eventually get something back. Our solicitors don’t even answer our emails. I have pretty much given up. The place is a ghost town whatever anyone says. There are thousands of unsold houses going at rock bottom prices. Our apartment should have been about 190k euros with the tax but I have seen similar apartments now on the market – bank repros taken back from Fadesa for about 90k. They are a good buy really if you want a place in a nice location but aren’t too bothered if the facilities are not in place and as there is no support from Fadesa you would have to do all the snagging and improvements your self. If they would let us complete at that price we would consider it.
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@mark wrote:
CES, can you provide any links to examples of properties in Costa Esuri now going cheap? I’d like to put them in the bargain section for discussion.
By the way, the post you responded to here was just a spam comment trying to build links to a site selling properyt in Vietnam. I’ve deleted it.
Mark
Hi Mark
I am not sure whether this is what you want but here is link to just one of the agents that are selling the apartments for the banks. Is it allowed to post a commercial link? The second picture on the link shows a typical two bed apartment of the type we were buying. It is now a lot cheaper. It is a nice area but Costa Esuri is outside of the town of Ayamonte (about 3 miles) which is lovely and there are no amenities on CE (except 2 golf courses, a golf clubhouse and one restaurant that is just about to open). It is pretty and if this is what you want there are bargains to be had but you need to look carefully at the quality – it varies from one area to another. There must be hundreds of houses and apartments on Costa Esuri empty and they vary considerably in price and quality. Best thing is the close proximity to Portugal – you get two countries for one! 40 minutes from Faro, 1 hour and a quarter from Seville. I wish things had worked for us – having partially paid they would not even let us exchange to a different area so we are still in limbo. Would be cheaper to buy from scratch now but we bought into the whole concept – commercial centres etc and they are not going to materialise now.
The link is:
http://www.homesandfincas.com/ -
Hi Mark
I am not sure whether this is what you want but here is link to just one of the agents that are selling the apartments for the banks. Is it allowed to post a commercial link? The second picture on the link shows a typical two bed apartment of the type we were buying. It is now a lot cheaper. It is a nice area but Costa Esuri is outside of the town of Ayamonte (about 3 miles) which is lovely and there are no amenities on CE (except 2 golf courses, a golf clubhouse and one restaurant that is just about to open). It is pretty and if this is what you want there are bargains to be had but you need to look carefully at the quality – it varies from one area to another. There must be hundreds of houses and apartments on Costa Esuri empty and they vary considerably in price and quality. Best thing is the close proximity to Portugal – you get two countries for one! 40 minutes from Faro, 1 hour and a quarter from Seville. I wish things had worked for us – having partially paid they would not even let us exchange to a different area so we are still in limbo. Would be cheaper to buy from scratch now but we bought into the whole concept – commercial centres etc and they are not going to materialise now.
The link is:
http://www.homesandfincas.com/[/quote]By the way click on the apartments section of the website to see more.
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