Spanish Property - Polaris World

chucky

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Robin00

Polaris are one of the biggest / best known developers in Spain, which may or may not be what you are looking for!

The best tip is to find someone who has bought through a developer you are looking at using, for their personal experience.

Also, check your developer is a member of FOPDAC - the Federation of Overseas Property Agents, Developers and Consultants (https://www.fopdac.com) - they are an independent body set up to protect British buyers of overseas property by operating a code of conduct and providing a means of regulation to a hard market to regulate. It's not a legal guarantee but any dodgy companies would not be able to have membership and there is a complaints procedure, so this should weed out any shady operators.

Good luck!

cancun_2

hiya,
i was actually looking to but there myself. My cousin lives near this development and actually recommended this to us. He said that they will automatcially go up in price as there are a lot of new things happening at the moment in that area. They are getting better roads and golf courses and that they are a good company. They currently have an appartment for sale at 117,000.00. They will try to accomadate you if you can't afford the full deposit. They have offices in england and ireland and arrange viewing trips all the time. You can get a spanish mortgage too! Rates start at 3% but remember when you go to sell the property that the government of spain will tax you on your profit!
Hope this was helpful!

Pal

chucky wrote:

Bought it in mid-February and the value has gone up approx 8%!!!

Time to sell then?

Robin00

Lots of people buying off plan use us to buy their currency, and in nearly all cases by the time the build has finished they have made a healthy return already!

I think the Spanish market is becoming a little saturated, but investments in the new EU countries (specially Cyprus) still seems to be booming.

Of course, to save more money, buy your currency from a broker instead of your bank... :-)

Teahfc

I am based on La Torre on polaris anyone else bought there ?

nick22abdn

Before you get too excited about potential profits I would check out the Spanish property market at the moment. Prices are falling as there has been massive oversupply and the government is even trying to bring in legislation to prevent a complete collapse.

The properties may be nice but I would suggest some serious research into the market before comitting your own money. Good Luck

seven-day-weekend

100s of empty apartments both for rent and sale all along the Costa del Sol and Costa Tropical.

I personally would not touch a new build with a bargepole.

Ian_W

chucky wrote: »

Not just yet.
I noticed on another Polaris development they have out there, that prices have increased 40% in the time before construction finished.

I think I'll sit and wait on this one...

Do you mean that the developers prices have risen 8 and 40% - or that private re-sales have actually been sold on at those prices?

If it's the latter then it's a very good result - if it's the former then you may have to sit and wait a while for resale prices to catch-up.

clutton_2

go to www.singingpig.co.uk and put polaris into their search engine - very interesting

Teahfc

Plenty of Neagtive vibes but I bought off plan 2 bed 2 bath for €89k which suits me fine, cut down on my Pension payments and am renting to friends and family only, Fortunate enough to be able for long weekend every 6 weeks so far..... beats the rain and will work from there in the winter from Jan7 through to march 16 :T