jdr

But the houses on there are still for sale, if they were good value they probably wouldn`t still be there.

olivia

The 2nd golf course at Esuri has been closed for some time now. Optimists will tell you it is resting. Pessimists [like me] will tell you it is being neglected and unlikely to ever reopen because Costa Esuri can not attract enough players in its present state of under development. You should watch this situation carefully. If the second course does open again this Autumn it will be a great relief to many owners there and an indicator to you to reconsider.

miacat

We were going to buy there but decided for all the reasons mentioned to stay away. We eventually bought an apartment in Tavira where there has been some new build but close to the town or other facilities and the prices are good although not as cheap as CE. They have also come down a lot since we bought a few months ago - we should have waited! In spite of this I have to say it has been worth it. We have bars and retaurants in walking distance also several supermarkets. Look across the border I say. Unfortunately the language is harder but mostly the Portuguese speak excellent English. You can still go over the border for your Tapas and petrol!

Reptonian

Much depends now on how much you like Esuri and how good the appartment is on Las Encinas - Rago 1 that you have set your eye on. The new pricing has attracted a good number of purchases in recent weeks. The agents were showing people round again a number of times last week and the week before.

The message is, if you like the apartment and its location (wrap-around and pool - how good is the view from that apartment?) then consider carefully - as it will go. Spanish professionals such as police have been amongst the recent purchasers.

There is also a possibility (John will probably get a feel for this soon) that Rago 3 will come on the market soon. I think the bank in question has waited for most of Las Encinas to go first. That is the fully finished third area of apartments at the back of Esuri that faces up the Guadiana (with views up the river to die for in the bloques on the West edge of the escarpment!). But, Spain being what it is, there is a very big chance that the best of those have already got "friends" names against them!

In contrast, compare the prices that Isla Canela is still getting for the apartments, albeit the pace of build has slowed. Thier build and marketing policy has kept the prices up (around 150+K for a one-bed, rising to eye-watering prices for the top floor penthouse ones! - credit crunch - what credit crunch?)

In summary, the price point is pretty good. As you already said property is a long-term thing and if you really like the appartment and the location.....the danger is that the one you want will go. Alternatively, If you dont mind that and can wait, then the choice is also clear.

EsuriJohn

What I find interesting is that the credit crunch has in some ways been good for the social mix on Esuri. Before the crunch hit the marketing seemed to focus on the brit "flip" marketing strategy. The bottom has fallen out of that market and the repossed builders property are being marketed to as you say Spanish Professionals and also as second homes to inland city dwellers.

This is a new town on the scale of the second wave of new towns declared in England in the 60's such as Dawley Runcorn etc. which are only now mature so I have always believed that it was a 10-20 year project and this will be skewed by the financial squeese. However this year seems to be a significant one in that slowly new villas are starting to be built and sales of completed apartments and townhouse now owned by banks are taking place. All round a good year for Esuri.

adiemac

Rago 3 apartments are now being sold which I think suggests that Las Encinas must be now near to being sold out. I think the banks are also now selling the remaining apartments on the Albatross development between Rago1 and 2.

CAROL ELIZABETH

I still have a deposit on an apartment on Rago 1 to be resolved. One with great views wraparound etc. Best things about the apartment. I assume it cannot be sold until they somehow deal with us! Since we never hear anything I can only assume it will remain empty. However I would believe anything after the experience we have had. Can anyone check - Bloque 3 and as you look towards the hills at the back it is the wraparound on the far left - top floor. Still looking to resolve our situation and hopefully recover some of the deposit.

adiemac

I assume the Banks are only selling the ones that were never under contract, they wouldn't be able to sell any with contractual disputes, so I would guess that MF still hold the Deeds for your one.

irlanda

: we are in the same predicament

adiemac

I have seen quite a few on this site now in the same predicament. Is not worth trying to get a large group together and approach MF with a price reduction near to the levels the banks are currently selling for?

EsuriJohn

I am fairly certain they can sell it on if you have registered as a creditor and the bank has reposesed the bloque from Fadesa What you paid for was an option to buy that apartment and not the actual apartment. Until you pay the remaining 50% and sign the escritura for a particular unit all you have is the option.

Maria De Castro is having some success chasing the developer and the banks who have hoodwinked buyers. The Abogado's seem to be getting away with it though.

adiemac

In that case it maybe worth speaking to Homes and Fincas who I think have pretty much handled all the sales in Las Encinas and certainly had the keys for apartments in Bloque 3 which are being sold by CAM Bank.

CAROL ELIZABETH

John

Believe me, in spite of our local solicitor who did nothing to help us and won't even respond to our new solicitor's request for information, we independently tried to negotiate an exchange for an apartment/townhouse anywhere else. We chose one that they subsequently sold after which we were told there were few we could choose without paying a lot more (i.e. above 2006 prices) because of the high mortgages on the properties. In fact they showed us 3 properties on Pueblo Andaluz and it was easy to see why they were unsold. And everyone knows there are lots still for sale even on PA.

We gave up in the end and tried to cancel our contract after two years of not getting anywhere. It is all in the hands of a new solicitor as we don't believe the old registered us as a creditor as we asked him to.

Carol

EsuriJohn

If he is an MP then we found him useless too and binned him and did the Escritura ourselves. Lots of others have had this bad expirience and have also binned him.

christine.king57

We are purchasing on CE (Las Encinas, Portal 2, overlooking the communal pool) at the moment and I have read this thread with interest. Have been told by our Estate Agent, so should be taken with a pinch of salt I suppose!! that a Saudi group are looking at the hotel with a view to opening a Casino. Each district is only allowed one and apparantly ours hasnt yet had the licence taken up, this could be of benifit if it materializes.
We have mulled over for months whether to buy and prices have certainly dropped since we first looked 3 yrs ago.
Visited CE last week tho and was surprised how much it had matured as impressions 3 yrs ago were certainly not so good.
I loved JAGS and hope this survives to give a focal point to the development, I believe if you are in it for the long haul it is a good buy at the moment, whats the worst that can happen? A place in the sun, in a lovely part of Spain, I'd take a punt