No more tiny than any other 2 bed apartments. The fact of the matter is they are selling and fast, and for an investment that is good. More importantly the majority of sales are to Spanish Buyers who are more canny than foreign buyers.
As for rose coloured spectacles, what I saw was impressive, the Spa was just one of many things, the gardens just behind the beach are well maintained, the area has been well thought out with wide roads, lots of parking, and plenty of commercial areas.
This is not meant to be a place to live more a place to go on holiday and that is exactly what it is being pitched as – the holiday resort of Europe. 65M for an apartment is about average where we are so they are no smaller and no bigger than average. But the facilities available both now and int he future make this something to invest in. However we all have different ideas. But as an investor myself the things I look for are very simple
1. Can I make money on it (the answer is yes as the prices are rising at a not so tardy 12% per annum)
2. Can I resell it – Yes there are plenty of buyers already
3. Can I rent it out – yes either a rental guarantee (granted not huge) or contact tour operators. More importantly it appears that they are marketing to every corner of the world. They have recently opened an office in London and Paris, not to mention Bejing in China, so they are doing everything they can to make sure that as an investor or holiday maker there is a possibility of making money and renting your property out.
However other than apartments there are also planned villas and adosados,
THe infrastructure is in place, the links are being built as is a new airport. Marbella or Malaga it may not be, Terra Mitica it may not be, but a holiday makers paradise it will be close to.
Whilst I am not saying that prices will rise ad infinitum and as with all speculative purchases you could be left with a property that you cant shift buyer beware, but on first appearance the boxes are ticked. The fact that unlike most other developments the developer will actually sell your property for you when the time comes is different – that surely suggests they have confidence in their own product. Unlike many developments that we see “advertised” on here the building licences are in place as are bank guarantees, no black money changes hand and estate agent commissions arent extreme (I believe the maximum is 10% but you have to sell a lot to get to that point)
So what exactly are the downsides, please enlighten me