Double Price Boost For Spanish Bank Repossessions
18 May 2012: British buyers of Spanish bank property are seeing a
double benefit recently as the pound reaches a three and a half year high
against the Euro. The pound has climbed to €1.25 against the single currency
while banks in Spain have cut the prices of their properties further. CAM bank
slashed its prices on the Polaris World resort of Hacienda Riquelme by a
further 25% and reduced further the prices on Condado de Alhama resort. Prices
now start from €65,000 but buyers are advised to act quick. There are less than
100 properties left on each resort, just 5% of the properties built.
Most of the properties sold in the years 2005-2008 when
buyers bought off plan. The resorts were completed along with superb 18 hole
Nicklaus designed golf courses and town centres with bars, restaurants,
supermarkets and other facilities. But the last of the brand new and completed
unsold properties entered a period of legal transition between developer and
bank before they came back to the market as bank owned property repossessions.
As the main agent for bank properties on the resorts in Murcia we can now offer
these properties direct from Spanish banks at huge reductions to the original
prices. At Hacienda Riquelme a front-line golf property can be purchased for
€65,000, down from its original price of €178,000 when initially offered in
2008. In Condado de Alhama resort a poolside apartment with solarium roof terrace
is just €65,000.
With six Polaris World resorts in Murcia and bank
repossessions to be found on most of the resorts there is still some choice for
buyers but mainly just apartments with very few villas remaining. Murcia is
well placed to benefit from any upturn in the market from the massively reduced
prices with a new international airport set to open this year and building of
the Paramount Theme Park set to commence within the next few weeks.
For further details or to visit the resorts in Murcia please
contact us on +44 (0) 208 429 7115.