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Hello
I am a new member to this forum considering purchasing a first property abroad. After considering a number of options I have chosen Murcia, Costa Calida for the following reasons, in no particular order (taking into account a budget of 140,000 euros):
-Regular, cheap, quick, flights from the UK to Murcia and with a further option of flying into Alicante Airport
-Property Prices are cheaper than other parts of Spain, at the moment
-New Airport in 2009/10 – eventually another route from the uk to Murcia plus the possibility of buying something now before the area becomes more popular
-As a golfer there appears to be some off-plan properties keenly priced
eg Polaris World Off-Plan 2bed 1bathroom apartment at 130,000 euros
or United Golf Resort 1bed 1bathroom at 115,000 euros
-Warm Climate 300+ days a year
-Planned new train links in Spain to and from MurciaHave I fallen for the hype?
Are there valid reasons to stay clear?
Are there valid reasons to both invest and use as a holiday home?Thank you
NewToSpain -
NewToSpain wrote:Hello
Have I fallen for the hype?
Are there valid reasons to stay clear?
Are there valid reasons to both invest and use as a holiday home?You have the right language for an estate agent. It is strange you cannot hide it better, any 10 year old would see you are an agent by judging your ramping.
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Assuming you are not an agent, then having nearly bought in Murcia (Polaris World) 4 years ago, here is my view.
If you are buying for investment, forget it. There has been no capital growth on PW for 4 years. If you want to rent out, then forget that as well. Check some of the rental websites and you will see PW apartments available for rental for just £150 per week, and they still can’t get customers.
If you are looking to buy for just your own holiday purposes, look at the resales on PW, you could put a silly offer in for 140k€ and it may get accepted. Personally, I would save my money and just rent when you need to, there is plenty of choice.
Living there is another matter entirely. Personally, I would not live in Murcia either, too many plastic covered fields.
Just my humble opinion
Kevin
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Hello kpw4v
Thank you for your reply and comments.
The resale option sounds good as I had concerns buying off plan.
Some of the resorts both near completion and off plan look massive, but seem to be selling either way.If buying, my plan was to use a 4 or 5 times a year for holiday purposes
and as highlighted in first post it would be a good investment if area becomes more popular.Are there any other options in that area within my price budget?
or
Has anyone bought a resale on a resort such as Polaris World and had good experiences?Thank you
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Hello,
what do you mean by “more popular”? I think Murcia is quite popular.
A good investment is in one place that only a few people have heard of.
Other choice is to invest at a moment when everybody tells you that it is bad to invest.
My advice: visit many places in the Costas during the next 3-4 years, then decide. The prices in 3-4 years will be lower than now in most of the places, with the exception of prime property that it is anyway much more expensive that 140K Euros.
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Just Frank wrote:New to Spain
Welcome to the forum and its a shame that some do not have better manners. 😥Better manners to do what? At least we give some details and some advices, you keep on
writing nonsense.NewtoSpain, you can rent detached villas in Polaris World for £200/week (if you want to buy the same villas, they cost £160K). I am sure they will go for £400/month. So go, rent for a couple of months and then decide.
Polaris Wolds might not be the best place, but it seems to be the only one with gas central heating so I am forced to rent there in December.
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Ralita 🙂
When I mentioned ill manner you appear to have put your hand up. 🙂
Yep you may be right that I write a load of rubbish but at least I do not stoop to complete ignorance 🙄
The best thing if you consider it rubbish simply dont read .
By what standards are you useing to say your posts are informative?
Lets not get personal shall we 😉Frank 8)
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Just Frank wrote:Ralita 🙂
By what standards are you useing to say your posts are informative as you usually appear,insult people then go away with a red nose when your put in your rightful place.
Lets not get personal shall we 😉I did not insult anybody. Newtospain seemed to ramp about Murcia in a way that estate agents do.
I have now some informaiton about Murcia and probably will have more in 1 month from now which I shall be happy to share with anybody interested.
You have not given any facts about anything, just words.
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davey wrote:ralita wrote:Just Frank wrote:Ralita 🙂
I have now some informaiton about Murcia and probably will have more in 1 month from now which I shall be happy to share with anybody interested.
quote]ralita could you share your information, we are purchasing in the Murcia region.
Which area are you interested? We come back on 30 December. Knowing myself as a
travel afficionado, I am sure we will see many places. -
@NewToSpain wrote:
If buying, my plan was to use a 4 or 5 times a year for holiday purposes
and as highlighted in first post it would be a good investment if area becomes more popular.A good investment? At this time? Do you really think so? Have you read through the forum?
Stick your money in some high interest account where you can’t get at it for a year or so. That’ll give you a better return. But perhaps avoid Northern Rock 😉
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@Just Frank wrote:
Ralita 🙂
Thats where we differ. 🙄
I tend not to post information taken from newspapers and try to look like I know what I am talking about. 8)
Frank 8)There are plenty of links within this forum to various articles and most of these I think, are very informative. Are you saying the knowledge you impart is only ever drawn from just your personal experience?
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OK Just Frank.
You offered your advices to NewtoSpain. That means you might have some experience with Murcia.
I would like to kindly ask you if you could give me any hint on the following:
– which Polaris resort would you prefer between La Torre Golf resort and
Mar Menor Golf Resort? I want to rent there but maybe NetoSpain would want to buy there.– why so few places have gas central heating? It should not cost developers an arm and a leg to put a boiler. The use of AC to heat the house is noisy and very non efficient. Considering that one needs heating in Spain for at least 3-4 months, better resorts should all have boiler.
The only ones I have founf were the Polaris resorts, this is why I stay there.– which is the nicest area in the Sierra Espuna? Does it snow in the ountains at the end of December?
– is the religious city Caravaca worth seeing?
Thank you very much for your possible help.
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Mr Ben 🙂
Yep mostly and whenI read something posted on this forum thats only trash newspaper talk this idiot just gets it checked out with a close friends solicitors in Marbella who I talk to everyday and have recommended to several members of the forum.
As you say there are many excellent reports in all medias to gain information from including papers however I think you will agree that they sometimes are less than honest with the truth.
Ralita 🙂
Well . Worked as top U.K salesman selling Spanish property for a major high street name and guess what I was selling. 😉
Wouldnt buy off any of those you mention,thats why I didnt. 🙁 (one reason you have mentioned)
Shamed to say also worked for O.V.P until I sussed them out and got my clients money back. 😥 🙂
Also bought and sold 7 properties in Duqusa and Manilva and also have two properties at the moment,one with a biggy problem. 🙁
Perhaps many developments in Spain dont have gas central heating because THEY DONT HAVE THE GAS. 😆 😆 😆 (check it out)
Now you keep reading your newspapers and posting the reports and let some of us attempt to bring some reality into it when we get it checked out.
Until then I will carry on posting my rubbish and try not to be rude,perhaps you may consider doing the same 😉What massive experience did you draw from to come up with this FACTUAL AND ACCURATE and solid insperational advice. 😕
My advice 🙄 Visit as many places in the Costas during the next 3-4 years will be lower than now with the exception of prime property that is anyway more expensive than 140K Euros 😯 😯
Frank 8)
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Just Frank wrote:Also bought and sold 7 properties in Duqusa and Manilva and also have two properties at the moment,one with a biggy problem. 🙁
Perhaps many developments in Spain dont have gas central heating because THEY DONT HAVE THE GAS. 😆 😆 😆 (check it out)
Now you keep reading your newspapers and posting the reports and let some of us attempt to bring some reality into it when we get it checked out.Sorry, I did not know you were a flipper on Costa del Sol.
The fact that Spanish region do not have gas is really very bad. Any civilized country should build gas pipes to serve the properties.
About reality, I hope you are convinced that the reality is much worse than the newspapers present. the newspaper always have vested interest in ramping up properties as the estate agencies pay them lots of money.
The outcome of the current crisis will be very severe.
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Ralita 😉
So Estate agents pay the newspapers lots of money to hype UP ? property news do they THEY? 😀
YESTERDAYS EXPRESS 😀 U.K PROPERTY SET TO FALL 30%+next year.
Seems they must have left their cheque book at home. 😯
You say I dont give any facts or figures, well this is one taken right from one of your book of knowledge. 😉
The credit squeeze will hit the world markets and YES that includes Spain and no one knows how much by 😥
Polaris World ? OH YES and its only my opinion but think there will be mega deals to be had as I witnessed many investors? buying 15 to 20 at a time.( This is MY opinion,not fact)
Polaris World was sold as the affordable alternative to other
areas ,fantasic marketing and YES the opportunity to make the sort of money made in say the Costa del Sol in the previous years without the security and crime risks.
Now that puts the thread right back on topic so lets keep it that way and suggest you please dont reply as I have promised not to waste my time further with you by p/ms of other members.( see you read up about the gas then : 😉 )Frank 8)
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peterparra wrote:about gas pipes:
The cities in this region in fact do have gas pipes since lot of years. But the properties built in the middle of nowhere surely dont.
Spain is a well developed country, I am 100% sure that the medium-big cities have gas.
It is just sad that the developers did not first install the gas pipes and then build the properties. I understand that in national parks like Cabo de Gata it is difficult to install gas but it is quite amazing that 99% of the places do not have them.
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If I were major I would create a tax similar to the uk council tax in order to finance the creation and improve of infraestructures and services.
I think around 1000 euros year would be fair and it also would stop the proliferation of empty houses because not many could affor to have a empty house with a tax like this making the rental market more dynamic.
But surely that would be a very impopular measure but it would be very good to see my region with bikes roads, light trains, frequent, accurate and affordable busses, etc…
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When developers can get away with selling properties to those who want to throw money at them, even in instances where there are not the correct consents and often inferior construction, are they likely to want to spend some of their profits providing mains gas.
Alternatively, would the punters pay a couple of thousand euros to have gas, when many have only visited during warm times, and many possibly are unaware that heat is needed. -
mg wrote:Alternatively, would the punters pay a couple of thousand euros to have gas, when many have only visited during warm times, and many possibly are unaware that heat is needed.
I am amazed ot see that some people want to rent their apartments and they do not have even air conditioning!! Who in their right mind would go in the middle of Summer at 35 Celsius in a non-AC apartment? And then in the winter at 5 Celsius at night without any heating?
Knowing that there tens of thousands apt. for rent in Spain, I would have never expected to see that in Murcia, Almeria and Costa Tropical area the only places with gas are on the ugly golf resorts, 20 minute drive from the Sea… Probably it was my mistake to arrange a December trip to
Spain. -
Many, many of the rental properties, it seems are owned by people who are stretched to buy and need the rental inome to cover their borrowings, therefore, there is little left to pay for upgrading. Same goes for properties where there has been a furniture pack provided and one must agree that this stuff is basic. I have taken a look at a few so called “villas”, bit of a joke. Almost overcrowded housing estates, with poor quality furniture and fittings (OK suppose it is down to what you are used to), but I do not go away to stay in basic accom. Possibly why for the last couple of years, I have gone back to the hotels (not the tourist type, they are low quality also).
Remember, a few years ago, private holiday villas were owned buy those who could afford to buy them, not those who borrow against their home to raise a deposit, then take out a mortagage.
Those are then desperate to rent. -
It is quite easy to see the regions with people desperate to rent (low prices, almost 0% bookings) and the ones which are really popular
(average to high prices, little availability).Unfortunately it seems that all the newly developed regions are deserted whereas the old ones are quite full.
Maybe our fathers knew better than us where to develop and where NOT to develop…
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I think you have it pretty much correct – wait for bargains but judge it by the actual bank valuation, not what an agent tells you its worth or what someone says it will sell for! Then deducet 30-15% and thats your bottom line!
Resales – either second hand or off plans just coming to completion will offer the best deals – go to the places you are thinking of and know where you want to buy. You can leave your details with local smaller agents as they will deal on commissions etc to close a sale and keep calling them so they remember you – there are loads of buyers out there wanting deals so you need to keep yourself known.
Re the gas issue – some towns are getting private gas in but as the future is solar, why bother??
And re the empty properties, there are plans to increase ibi by 50% for empty properties as well as tax breaks to encourage emply homes to be let out, all the officials are tyring to do is ork out how fairly to judge an empty property!
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I agreee – most get bottla gas heaters which are rather efficiant and others have blow heaters – last year I saw a ceramic panel that was ectrememly efficient, like a storage heater.
Personally I hate ac units, in summer they drive me nuts – too cold – and winter the air is too dry for me! I use blow heaters to warm through and in the house we have a huge real fire – very cosy and reasonable to run!
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NewtoSpain you say you are intending to spend 4 to 5 weeks in Spain on a Golf resort.
I did a bit of research for you. http://www.ownersdirect.co.uk lists 86 properties for rent on just one resort La Torre. Even if you spent 12 weeks away it looks like you would only be paying around £3,000 in rent and with so much supply and a bit of bargaining you might easily get away with less.
In contrast your budget of £140,000 would gain you around £7,000 net in the UK at the moment (or save you from mortage payments of more)
Why on earth would you want to buy at all. Wouldn’t you rather have £4,000 pa in your pocket ?
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mark wrote:Ralita,
Camposol is cheap for a reason. Don’t even think about buying or renting there without having spent a few days talking to people who live there first. Depressing stuff.
Mark
Mark,
thank you very much for the advice. I eventually booked a villa in La Torre Golf resort, my wife wants gas central heating.
Considering that I bought plane tickets to Murcia, it was among the only acceptable choice. Next time I shall fly to Granada and I shall have a wider choice…
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@Sebastian Bear wrote:
NewtoSpain you say you are intending to spend 4 to 5 weeks in Spain on a Golf resort….
… why on earth would you want to buy at all. Wouldn’t you rather have £4,000 pa in your pocket ?
Absolutely.
I had the foresight to pull out of an investment property at the start of this year. Had I better foresight, I realise I shouldn’t have purchased 2 years prior, as all the signs were in place back then that trouble was brewing ahead. Personally, I’d say to anyone considering buying now, specifically as an investment, to run a mile in the opposite direction. If you’re buying to live, that’s altogether different.
If you have money to invest, shove it into a high interest account, pay off your mortgage, do anything else, but be very wary of sinking any part of it into Spain.
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