Hi All
We have purchased a T3 with another couple as a business investment. We also have a number of other properties in the UK that we successfully rent out. The other couple visited the resort rcently to see the progress. I trust their views 100% and the acid test for me was when they returned I asked them if what we had done (purchased a place there) was the right thing. The reply was yes, dont think you will be disappointed. Thats good enough for me. They also took a load of photo's which I have seen and in my opinion looks great, just needs to get the greenage established which of course will take time to mature. We are heading out Oct half term for our first stay as we are part of the 3 yr rent agreement. So I hope I'm not disappointed.
I feel if there are still many concerns people share, then they - we should join together to get these iron out with the developer before its too late. Judging from recent correspondance the deeds are to be signed in the next couple of weeks which does not give a great deal of time. I would be interested to know how many have these concerns and feel strong enough to form a joint campaign focused through a single voice.
Finishing on a positive note....
The interior colour scheme (compulsory on the rent programme) is not all red and orange and actully in the flesh it does not like the photo's Monte Santo sent out a couple of months ago. Also as they say this colour scheme will be much more forgiving than the beige and creams we all saw in the show house, especially if your renting heavily like we hope it will.
Lastly our Portuguese bank went to take a look at the development a few months back to release the 2nd stage payment to ensure the state of the development was sufficently worth releasing the funds. I'm no expert on Portuguese banks, but they valued the property way over what we have paid which was rather pleasing as the UK banks tend to only tell you of a property you are buying is worth the asking price, not what it is actually worth.
Of course time will tell and I am sure that some of the negative concerns that we have all shared to date will start turning into positive ones
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