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Property in spain

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By (user no longer on site) OP   
over a year ago

Thinking of buying an appt on a golf resort in Murcia Spain. (Not seen it yet) but the prices have hooked me.

45k for a 2 double bedroom penthouse appt with large balcony. Jack Nicklaus 18 hole course, bar resteraunt, shop and communal pools.

Anybody have any experience of buying property in Spain and or does anyone know much about Murcia? The appt is 15 min drive from airport.

Thanks in advance x

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By (user no longer on site)
over a year ago

Not sure, but personally gonna move with parents to Alicante in spain in 2 years time, cant wait

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By (user no longer on site)
over a year ago

As long as the complex has the correct permission to have been built then everything should be fine. You see some horror stories about people's homes being demolished as they were built illegally during the eighties and early nineties property boom.

I lived there for nine years and it leaves me with mixed feelings. Love Spain though was more south on the Costa Del Luz.

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By (user no longer on site)
over a year ago


"Thinking of buying an appt on a golf resort in Murcia Spain. (Not seen it yet) but the prices have hooked me.

45k for a 2 double bedroom penthouse appt with large balcony. Jack Nicklaus 18 hole course, bar resteraunt, shop and communal pools.

Anybody have any experience of buying property in Spain and or does anyone know much about Murcia? The appt is 15 min drive from airport.

Thanks in advance x"

how much are the monthly resort service fees?

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By (user no longer on site)
over a year ago

Buyer Beware

And

Be Wary

But it does sound very tempting.

Just make sure you get an English speaking lawyer and whatever you do, don't use any agents or Lawyers that the developers recommend.

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By (user no longer on site) OP   
over a year ago

Between 80 and 120 per month is the fees. Yes Deffo English speaking lawyers. Told fees are around 10% of value of property.

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By (user no longer on site)
over a year ago


"As long as the complex has the correct permission to have been built then everything should be fine. You see some horror stories about people's homes being demolished as they were built illegally during the eighties and early nineties property boom.

I lived there for nine years and it leaves me with mixed feelings. Love Spain though was more south on the Costa Del Luz. "

Have heard of some forced repossessions when they want to build/extend public services. Crap or no compensation.

Be careful!

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By *afadaoMan
over a year ago

Staines

There are some incredible deals to be done in Spain directly with the banks.

They claimed so many during the recession and are selling them back at crazy prices as the economy satbilises a little.

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By (user no longer on site)
over a year ago

Use an independent English speaking lawyer to make sure that you are actually buying it

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By (user no longer on site)
over a year ago

Friend lost every thing buying property in Spain be careful very careful, look up on the internet you will see the horror stories

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By (user no longer on site)
over a year ago

All that above and remember just how hot it will be and how much you need to think about being safe in the sun. I lived in France for 4 years and the sun deserves respect, or you can regret it.

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By *0shadesOfFilthMan
over a year ago

nearby

Unpredictable economy, 50 pc youth unemployment, had a lift from a Spanish taxi driver here at Christmas (he was an engineer) said its bad there and no jobs. Alright if you don't plan on reselling I guess

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By *0shadesOfFilthMan
over a year ago

nearby

In spain when you get repo'd they take the house and you still owe the debt. Doesn't have the same protection as uk

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By (user no longer on site)
over a year ago

Friends of ours have an apartment in Murcia ... Lovely apartment too.... We were out there a couple of years ago... Never seen so many half built and empty apartments in my life.... But the thing that personally would put me off owning there were the metal grills on every single window of every building plus shutters. We went to the local shop one day was about 400 yards away and they put the shutters down , I asked was it really necessary and was told oh yes then they reeled off names of people who were burgled...... Saying that we didn't personally see any trouble when we have visited....

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By (user no longer on site)
over a year ago

You should use an English lawyer based in uk who specialises in Spain law etc.... I know some one who thought he had paid over £ 50 ,000 deposit on a villa. He bought from an English owner of the apartment , had English speaking lawyer who was Spanish...... And discovered a few months later when emails were ignore that things weren't right at all..... He dud a surprise visit and discovered the 7 bed villa was gone..... And there now stood a round about. There had been a compulsory purchase order on it .... But the lawyer and the owner had decided to see how much money they could make on a no win purchase that didn't actually exist.... It's cost him a lot of money worry and heart ache to attempt to get his money back.... Last I heard was over 2 years later and still fighting the case .... Via an English lawyer based in the uk

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By (user no longer on site)
over a year ago

I would say if your going to make use of it. ie 6 or more trips a year, it might be worth it but don't buy it as an investment, you could be disappointed!

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By *ophieslutTV/TS
over a year ago

Central

Apart from the risks highlighted of legality and losses, I'd be concerned about service fees constraints in future. I imagine there are no controls and if others don't pay, you pay to cover theirs too. If the economy sinks more, could you stand the losses of the property?

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By (user no longer on site)
over a year ago

Nearly bought a villa there with the ex some years ago but the development stalled due to the recession. Bought nr Puerto Banus years earlier but we were lucky! The property lost value during the recession but at least it was legal and above board! If you're serious about buying get a reputable Spanish solicitor to check that the development is completely legal - many homes/developments have been torn down in recent years as i'm sure you're aware!

And if it is legitimate and you do buy - enjoy op! Xx

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By (user no longer on site)
over a year ago

Oh - and remember you'll have local taxes to pay on top of any agreed community fees! Xx

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By (user no longer on site)
over a year ago

Beware stray golf balls landing in the crack of your arse just as you're about to dive in the pool.

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By *otlovefun42Couple
over a year ago

Costa Blanca Spain...

The ones you are looking at are the old Polaris World properties. They went bust and the boss and a local mayor (or two) were prosecuted for planning fraud. I'm not quite sure how it finished, if it has.

I've played nearly all their courses and if you like golf I'm sure you would enjoy it there but, as I remember, the golf and property are now run separately.

The drawback is that all the developments are in the middle of nowhere, and are pretty much deserted for most of the year.

Mar Menor Resort is probably the closest to civilisation but last time I was at La Torre, El Valle, and Hacienda Riquelme they looked very nice but were isolated ghost towns.

As for buying in Spain generally. With care there are some good deals around at the moment especially for Brits who are now getting nearly 1.40€ for a pound.

Two tips that could save you a lot of money.

NEVER come to Spain on a 2 or 3 day property tour and buy something, as many Brits did in the boom years. Select the area you like and come and rent somewhere for a couple of weeks if you are buying a holiday home, and maybe for a year if you are doing a permanent move.

ALWAYS Get you own independent lawyer. NEVER use the one recommended by the builder/agent. Again as a lot of Brits did in the boom years.

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By (user no longer on site)
over a year ago

Much of the above......basic thing to remember is Spain is basically a third world country once you are away from main coastal resorts.

Their legal and civil systems are just as corrupt as any sub-Saharan African dictatorship.

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By *otlovefun42Couple
over a year ago

Costa Blanca Spain...

I would just add that the "15 mins from the airport" will be from Murcia San Javier. During the summer months you should have no problem with flights but out of season very little flies into there, so just over an hour from Alicante is more realistic.

The new Corvera airport still hasn't opened and is unlikely to do so in the near future. Even if it does it will be no different to San Javier.

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By *otlovefun42Couple
over a year ago

Costa Blanca Spain...


"Much of the above......basic thing to remember is Spain is basically a third world country once you are away from main coastal resorts.

Their legal and civil systems are just as corrupt as any sub-Saharan African dictatorship."

I know where you are coming from but it's not quite that bad and it is (slowly) improving.

We've had a property here for 15 years and have just bought a second one (it's available for holiday rental if anyone is interested ) and we think the country still has a lot going for it.

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