Brand new huge golf development to go-ahead

February 02, 2010

A SECOND mega golf complex has been given the green light on virgin coastline between Mazarrón and Águilas. Murcia regional government approved the plan to build 6,000 homes, two golf courses and four hotels at El Ramonete near Puntas de Calnegre in the municipality of Lorca.

The six-million-square-metre area is close to the Cartagena-Vera toll motorway which was opened in 2007. Two of the hotels are due to be built on land close to the beach and another two inland. The development, which is being promoted by Alicante builder Hansa Urbana, includes the protected Lomo de Bas natural area. It will be constructed on the same strip of virgin coastline as the controversial Marina de Cope resort which is set to be built near Águilas on 21 million square metres of land. Electricity giant Iberdrola is investing 200 million euros in this tourist and residential complex which includes five golf courses, 11,000 homes, 22,000 hotel rooms and a vast marina. Iberdrola chiefs, who are promoting the scheme with Caja Murcia and Bancaja, labelled it a 'sustainable and quality' project. Lorca councillor for town planning Francisco García said the 6,000-home El Ramonete scheme would be environmentally sustainable and natural resources would be protected. "The builder is a solvent and established company and the promoters want to start work as soon as possible," he added. Virgin coast at Cabo Cope which will be turned into a resort

Spanish golf properties 'enjoy premium'

January 31, 2010

Properties with a view of a golf course enjoy a 20 per cent premium over similar homes that lack this, it has been noted. In a feature on the appeal and value of golf properties, the Times quoted figures from developer Clutton Resorts stating that such a price differential exists.

The paper stated that this is beneficial for Spain, with KPMG's Golf Advisory Practice stating that the country is tipped to be second only to Portugal as a golf property destination. One location suggested by the news provider as a good investment for a family in which Dad tends to be an occasional golfer is the Desert Springs resort in Almeria. This has two-bedroom flats with discounted prices starting at GBP198,000. Those looking to buy a property in Spain will find that the banks there remain willing to offer home loans to overseas buyers, mortgagesolutions.com revealed last week. It remarked that investors would be "surprised" at what is on offer and said that with prices having fallen the prospects of owning property abroad "may never be better".

The number of Brits buying property in Spain is increasing

January 29, 2010

The number of Brits buying euros for property purchases has increased in the last few days after sterling reached a rate of €1.15 for the first time since August 2008.

Foreign currency brokers have seen a 40% increase in clients buying euros, while new enquiries have shot up by 24%.

“A number of our clients in the market for euros are taking advantage of the improved exchange rate and buying their euros for overseas mortgage payments, property purchases etc now,” World First’s head of private clients, Elisabeth Dobson, told OPP.

Property Spain

Trampolin Hills protest

December 21, 2009

Over a hundred residents of Trampolin Hills Golf Resort, situated on the San Javier - Murcia road, held a protest last week at the resort. Armed with placards and shouting demands, the protesters are requesting that their money be returned and those responsible for the fraud to be sent to prison. The first of the more than 2,500 units planned at the resort were sold four years ago, but none were ever completed.

Property Spain