Condado de Alhama Property in Murcia Spain

 

The resort of Condado de Alhama opened in 2008 with a stunning town centre constructed around a central water feature. The resort is built around an 18 hole Jack Nicklaus Signature golf course.

 

Properties at Condado de Alhama are the most affordable across any of the six Polaris World resorts. The garden apartments with roof top terrace can be purchased from just €65,000 and there are excellent deals currently with mortgages on bank repossessions of 90%.

 

Frontline "penthouse" style apartments with stunning views across the Signature golf course can be sourced for just €80,000, a huge reduction from their original off-plan price.

 

 

Now is the time to consider investing at the resort of Condado de Alhama. The new airport at Corvera, just 20 minutes away is scheduled to open in 2012. Paramount Pictures also have the go ahead to construct a huge theme park just five minutes drive from the resort.

 

Back in 2005 when Condado de Alhama was first launched, off-plan property started at €119.800. At the time this was considered cheap and over one thousand people scrambled to buy these bargains off-plan to be built and delivered in three years time.

 

Now the very same properties, the last ones that did not sell in time for the credit crisis are being sold off by the banks for as little as €65,000. Brand new completed properties in Spain on a resort with town centre facilities and golf course.

 

 

 

We have a selection of bank property repossessed from the developer Polaris World. A stock of 150 apartments half of which has sold in the first six months of sales. There is still time to buy but when the stock is gone then we are back to a resale market where property is offered at perhaps 20% to 25% discount and not as much as the 50% currently available.

 

 

 

The bank property is offered with very favourable mortgage terms from CAM bank and Caja Murcia. Up to 90% mortgage is available for overseas buyers. Interest rates are around Euribor + 1% but can depend on the circumstances of product taken with the bank. For example insurance. Mortgages offered on the properties can be up to 40 years or age 80.

 

The resort of Condado de Alhama and the properties were built by Polaris World Murcia. We have two bedroom garden (Jardines) apartments from €65,000. Three bedroom ground floor apartments with garden and terrace for €72,000. Frontline penthouses overlooking the Signature golf course from just €80,000 and two bedroom Jana villas with rooftop solariums from €150,000.