June 25, 2007 at 12:26 pm #52974
For all who are wondering about buying a house in Murcia, please put attention to this new appeared in the media.
Spanish police is investigating the council of Torre Pacheco. The Thursday 19 the police has taken all the property development documentation present at the council archives. It is well-know by local people the relation between the company POLARIS WORLD and the council of Torre Pacheco.
Without this relation is imposible to imagine how a company like POLARIS WORLD has reached so biggest numbers. A lot of people think that the case of Marbella can be very small compared with the corruption present in the Region of Murcia were several councils like Aguilas, Mazarron, Fuente Alamo, Los Acazares and now are in the point of view of the justice.
Please, be informed about the political situation in the Region before investing because you can finish with your fingers burned in the sunny Spain.
The sales are falling and also the prices but a new case like Marbella in Murcia can be catastrophic.
June 25, 2007 at 1:45 pm #73150
I’m beginning to think that Marbella was just the start, and that this same corruption & ‘illegal building’ is widespread over vast areas of Spain. No doubt we shall be hearing about this soon – just my opinion though ❗
June 25, 2007 at 3:22 pm #73152
… It is well-know by local people the relation between the company POLARIS WORLD and the council of Torre Pacheco….
That’s an interesting turn.
At the moment UK TV is broadcasting glossy adverts for Polaris world.
June 25, 2007 at 3:52 pm #73153
I have been banging on about Murcia for along time on this forum, so this is nothing new. After all, I have been a victim of a property fraud at Campos del Rio, Near Mula, Murcia. The villa my partner and I was buying off-plan in 2003 was on a 2,000 metre plot on rural land overlooking orchards. Apparently the builder has sold over 120 plots. The majority of the plots having been sold to English people.
I am wondering why the police have not investigated this development!
June 26, 2007 at 8:22 pm #73175
Could you please give me more info on this subject as we have already completed on a property in Murcia. Is there any cause for alarm?
June 27, 2007 at 10:05 pm #73196
It is estimated that the judge will have a decision about the investigation about 15 July. You should visit the web http://www.laverdad.es daily. This is the main newspaper in Murcia.
It is in Spanish, I dont know if you know Spanish and because this is yet a local new is difficult to see it in national media, also the local english newspapers here in Spain are in the hands of the property sector so is difficult to find news like this in this type of newspapers.
To buy a property here in Spain in these moments is a difficult situation. But if you only want a home to live and you think your home is beautifull and the prices is not scandalaous you should buy it.
But be careful about the legality of the property development, the history of the developer and so on.
Despite all Murcia is a place with a lot of sun, cheap prices and good gastronomy so is a perfect place to be.
June 27, 2007 at 11:21 pm #73197
We have completed and have our escutuira so is it just the off plan properties that are at risk, would hate to think that anything could go wrong now after all the waiting. Unfortuantely I don’t know Spanish at the moment, but trying hard 😯
June 29, 2007 at 11:22 am #73248
June 29, 2007 at 9:06 pm #73273
Today I have known that Polaris has dropped its start prices from 119.000 euros to 89.000 euros.
Something smells terrible here. Perhaps the investigation will finish in nothing like the almost one here in Spain. It only depends in the honesty of the judges but I am starting to think that everybody is corrupt here in Spain.
June 30, 2007 at 12:18 am #73274
Thank you both
After reading the article am I right in thinking this is an isolated area in Torre Pacheco? We are nowhere near there so any more info would be appreciated and to put our minds at rest am I also right in thinking that the still to be built off plan properties are in the limelight and the completed properties are not in jeapordy? I have only just joined the forum so am not up to speed with the goings on so far. If this has already been discussed then I apologise. But if you could just enlighten me further that would be most appreciated.
June 30, 2007 at 7:26 am #73277
@Jimmy 10 wrote:
….am I also right in thinking that the still to be built off plan properties are in the limelight and the completed properties are not in jeapordy?
Jimmy – unfortunately whether off-plan properties are already completed or not, they can be deemed as illegal.
I would recommend you:
a) tell your lawyer you want him to check the PGOU plan in order to confirm the site of your development was zoned as buildable and that the designated amount of building allowed was adhered to. In our case, 12 townhouses in the PGOU plan became 12 blocks of flats in reality. Ask for this confirmation to be in writing.
b) Ask for a copy of the Building Licence if you don’t already have it.
It is easy to become so worried with almost-daily news of yet more corruption. Let’s hope you are fine – but recommend you do the two suggestions above for that all-important peace of mind.
June 30, 2007 at 8:05 am #73280
Jimmy also make sure that your Lawyer is independent and not in anyway connected to the developer or the REA. Good Luck. 🙂
June 30, 2007 at 9:02 am #73281
Hi Charlie & Claire
I will certainly check this out. Yes we did use an independent lawyer and had a mortgage. The lenders were very picky with getting the right documents, as was my solicitor, before lending and towards the end I was very frustrated that the completion date was not on time. But having read through posts hopefully that was a blessing in disguise. I will however follow it up and thanks again for taking time out to help.
June 30, 2007 at 9:18 am #73282
That sounds very hopeful then Jimmy.
Mortgage lenders are the best people to check that everything is legal and all paperwork is in order – just looking after their own interests of course.
But don’t underestimate the importance of checking the building allowance was adhered to – often overlooked.
Am sure you will just have many happy memories to look forward to.
June 30, 2007 at 10:25 am #73284
Will keep you posted, better to be safe than sorry eh? 😀
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