Hi,
I was skeptical of the location, inland, in middle of nowhere, but I do see some value in a resort for foreign people who dont want to be coastal, or cant afford coastal etc. People put Spain in a category, they jump on plane and then arrive, dont mix with the locals, and are in a resort community, this appeals to some. Like if you knew Spain, you would not invest in Polaris, mass produced units, high prices, but then thousands of people do. It appeals to a certain section.
A real study would be interested to see Proportion of overseas buyers to locals. The spanish are pretty astute people, and if the Spanish are buying in droves then that is a good sign, if most is overseas it is a good sign for the developer they are making money, but look at what the locals are doing, if they will release the information.
I am seeing things with a broader lense, if an overseas investor whom does not know the area, the people etc etc, the inland climate etc, snow in winter time, I think it got to -7 last year, global warming will help *there is a different climate inland to coastal, more extreme, hot in summer, cold, very cold in winter.
I see a value in a cheaper resort community but good facilities inland. Alot of the success i think is on momemtum.
The letter to be was a lot of blah and no real substance.
It is just saying hi everyone everything is going smoothly. Rather than the hard facts. Licence on this day, or anticipated on this month. just a
PR exercise, which again is positive.
People must invest in what they want is a free market. My money would not be there, but I understand why outside people think is a good thing. I hope you all make good and healthy returns on your investments and it works well.
What were the rental guarantees etc?
And property management in place?
regards Darren