Bank Repossessions Murcia, Costa Blanca, Costa del Sol

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.


Freephone	0800 011 2331
UK	0208 429 7115
Spain	+34 968038233

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