Developer slices 58% off Spanish golf property
As the Spanish property market faltered, the bigger you were the harder you fell and heavyweight developers such as Polaris World found themselves in serious financial difficulties. However its main creditors, a consortium of four banking entities, have supported the golf-driven resorts and are now focussing on clearing the inventory of unsold property. Good news for buyers as you can now get the key to a two bedroom apartment at Condado de Alhama for a cost price of 85,000 euros – a 58% discount.
Chris Mercer, Director of Murcia-based estate agents Mercers, comments, “Polaris World is one of the few major Spanish developers to have survived the credit crisis and is now offering, for a limited period, what I consider to be the best deal of 2011. Buy now and get up to 58% off previous prices with 90% mortgages available at interest-only for the first two years. If you can afford 242 euros a month, you can afford your own home on a five star resort.”
Chris continues, “This deal would be remarkable on any development, but when you learn it is on a Polaris World site within ten minutes of the beach, five minutes of a Paramount-endorsed Theme Park, 20 minutes of the new international airport at Corvera and with completed infrastructure to include an up-and-running Signature Jack Nicklaus golf course - it gains even more credibility. What’s more, homes are ready to move in to, so buyers can enjoy the sunshine and the golf from day one. This is an unbelievable opportunity to buy into one of the area’s top developments at the bottom of the market.”
With seven resorts ranging between 55 hectares and 900 hectares, all in the Spanish region of Murcia, Polaris World has certainly been ambitious in its vision. At the heart of the concept lies the Jack Nicklaus Golf Trail.
The masterplan includes a total of nine Nicklaus-designed golf courses within a 25km radius making it the best golf offer in Europe. So far five courses have been developed since 2005 and three of those now fall under the management and maintenance of Olagolf Group founded by top golfer José María Olázabal. Brand new Alhama Signature Golf at the largest Polaris World estate – 900 hectare Condado de Alhama – forms part of this fortunate trio.
With 3,000-plus completed homes, Condado de Alhama boasts its own Al Kasar commercial centre with bars, restaurants and a supermarket as well as gymnasiums, tennis, football, basketball, cycle lanes and of course the golf. Homes are arranged in communities sharing swimming pools and children’s play areas.
Prices start from 85,000 euros for a fully furnished top floor two bedroom apartment with a private roof terrace commanding fantastic views of the resort and surrounding countryside. 90% mortgages with two years interest-only are available.
For more information, visit spanishproperty.co.uk.
