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Altamira, Santander bank’s real estate company, is pushing these flats as a great bargain with a discount of 40pc. Still look quite pricey to me, even if they are brand new, spacious, and walking distance to Puerto Banus. Anyone have a better idea of what these are worth?
2 bed flats, 230m2, prices from €641,700
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Is this building really brand new or have the flats listed simply never been lived in/unsold from the outset?
I only ask because the greenery dangling from some of the balconies seem pretty-well established. So then my question would be – are these flats for sale reduced from the original asking price (whenever that was)? Are they a real ‘bargain’?
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Mark. I recall this development. I do not beleive that prices have been reduced in a noticeable manner. The apartments are larger than normal. Personally I do not beleive that prices in Marbella or near Puerto Banus will ever come done.
The properties there have been built some times ago & as such either do not have a mortgage or if there is a mortgage it will be an insignificant amount. Most new developments are behind the Bull ring or on the north of puerto Banus. Like the example.
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the prices have been reduced by 40% and are marketed by Kristina Szkeley – they come with 90% mortgages if you want one – finished 5 yrs ago but were illegal/ connected to money laundering etc – now legal and owned by bank –
good location, good quality but nearly $1,000,000 sounds pricey in todays gloom and doom world !!!!! near buddah beach club and new fancy promenade !!!!!!!
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@mark wrote:
But if UBEDA is right they are already knocked down by 40pc. Must have had a really high price to start with.
So basically, what you are saying is no chance of selling at this price. Correct?
Anyone venture to say what price range they would sell at today?
Hi Mark,
originally they were on the market for around the 940.000€ figure.
I am sure some will pay that price as they think it is worth it.
Actually i should correct my self, the one apartment that is on for 640.000€ and 241m2 built with 80m2 of terrace is a good price (if 241 + 80), the other apartments though are 100m2 less for the same price. Going by price per sqm it seems to be quite competitive. or same metres and nearly double the price.
My main issue is the surroundings. I believe the nearest shops/bars are about 20 minutes (except for a tigermarket next door) away. How the complex is designed means you can see straight into the your neighbours in front. The surrounding land in undeveloped. I also feel that at the end of the day they are only 2 bedroom apartments.
on the other hand, you get most of the benefits if being near puerto banus, with the noise, etc…
I do think they will sell because the bank will have valued the property quite high (want to bet its around 1.1 million) and offer attractive mortgage terms.
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@mark wrote:
Sorry Fuengi, I couldn’t make sense of your last post. Are you saying they are over-priced or not?
yes, i did manage to waffle a bit did’nt I?
the 240m2 apartment, by sqm seems well priced.
the remainder apartments at the same price, but only 140m2 (approx.) seem quite inflated. I think these apartments should value up to about 640.000€. which if this is the case, the properties should be closer to 520.000€.
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Yes overpriced. Extremely good quality and quite cheap monthly fees as I recall for the area. The building won an award for the exterior for the marble (!) and it boasts double parking spaces, storerooms per apartment too. Indoor pool gym etc as well as outside. They are all huge and there are 3 beds as well as the 4 bed penthouses which were up for 2.4 million each in their hayday.
Before the bank took them back we had them as a job lot, 64 units in total available with a range of 2 beds, 3 beds and penthouses. The 2 beds were around 450k with the penthouses at 1.2 mill each – I think if i recall the PH size was 500+sqm plus huge terrace and dip pool. I remember looking around them and really liking them. Whilst they look close to each other they arent too bad for privacy with a pretty faultless finish and great storage ideas – not usual in Spain.
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