Jardin de los Reyes Development in Spain

[AustralianInvestor]

Thanks for the feedback people.

Does anyone else have any comments on this development?

What are peoples thoughts? Feel free to comment.

[Glyn the Lawyer]

Hi, I have just read through this posting and in response to one point you have raised I can advise that bank guarantees must be provided by a developer at their cost.

You should therefore insist upon this and also consider that some developers will present information regarding guarantees in a misleading manner. By this I refer to the practice of implying that they are in some way more professional than others by offering them when in actual fact they must offer them.

G Moran
CB Legal & Fiscal Consutlants
info@legalandfiscal.com

[cathgill]

I'm also considering buying a plot. I am due to speak with Stewart this evening. It really does sound too good to be true and the Murcia region has recently slumped slightly, from what I detect from a friend who owns a villa in the Murcia region. I'm also concerned about how easily I can get my money back if the planning fails. Australian buyer - having spoken to the developer, do you feel this is an "honest" investment and do you think your money is safe? How do you rate this investment as opposed to an off-plan purchase in Morocco? I would really appreciate your feedback.

[cathgill]

Glyn - any chance of a little free legal advice? What's your overally option of Jardin de los Reyes?

[teresa101]

cathgill, I am also thinking of investing in jardin de los reyes. I am also confused as to whether it would be better to invest in Morocco.The investment company I am speaking to seem to think that Los Reyes is definately a better investment because it is such an early stage. Anybody out there that can help?

[AustralianInvestor]

Hello Teresa and Cathgill,

I was dealing with Property showrooms, which are very help full. I know that allot of people also deal with them all give positive feedback. They have done their due diligence. I have also spoken to Stu,art from MC consulting he was also fantastic.

I think if development goes through, it is a sure winner, a better ROI than a Moroccan off plan development. I reserved one then decided to pull out because i felt uncomfortable, I wasn't sure how safe my money was, and whether the actual number of plots were actually sold (Got my reservation fee back straight away). I know that once you sign the contract, you will have a charge on the land, which is ensures that the developer cannot re-sell the whole 11,000,000m2 land. Although now I am rethinking, and I might end up buying one.

This is a high risk investment because uplift planning has not been approved and your money could be left in the developers bank account for a couple of years earning interest. But the developer is being upfront and honest as aposed to other developers. I think big risk = big returns, so if you have a spare $30,000 Euros lying around that your willing to tie up for the next couple of years (worst case senario), then i would defintely go for it.

I also noticed another development near by Torre Grande Golf
And they are selling plots for more than double, but I was told from property showrooms that they have not even got planning approval. I asked for the building license from Torre Grande Golf and they gave me some silly letter sent to the town council dating back 2 years ago. They seem a bit dodgey.

For me, it is either a plot here in Jardin De Los Reyes, or a 1 bedroom unit Brazil, as this all I can afford right now.

Or I might buy the unit in Brazil, then a plot here down the track. Who knows.

There is my 2 cents worth. Hope that helps.

Oh BTW, which agents are you guys using?

[teresa101]

Hi Aussie investor

I went through Property Showrooms as well. I have been very impressed with them so far. I have now paid my deposit and have been contacted by the developer and a lawyer.From the info they have given me I feel ok about this investment. Like you say it is high risk but worse case is getting your money back with no interest.
The guy from property showrooms told me he had invested in it as well. Not sure if this was just sales talk but he seemed fairly genuine. I have 3 weeks if i change my mind so ket me know if you hear anything else. The thing is sometimes you just have to go for it and take the risk.

[AustralianInvestor]

Originally Posted by teresa101

Hi Aussie investor

I went through Property Showrooms as well. I have been very impressed with them so far. I have now paid my deposit and have been contacted by the developer and a lawyer.From the info they have given me I feel ok about this investment. Like you say it is high risk but worse case is getting your money back with no interest.
The guy from property showrooms told me he had invested in it as well. Not sure if this was just sales talk but he seemed fairly genuine. I have 3 weeks if i change my mind so let me know if you hear anything else. The thing is sometimes you just have to go for it and take the risk.

Yes, totally agree. I have bought a plot here and I am using Legalex as my lawyers and they have experience in this development as well. A bit expensive, but I chose them because they are very well known, recommended by allot of investors, and they are third party to both the agent/developer.

I always follow a rule of thumb, always use third party lawyers, lenders, & valuators. But I think you still should be OK using propertyshowrooms recommended lawyers.

[nimuex]

Originally Posted by AustralianInvestor

Hi All,

If anyone is interested on this development, the site is below:-

Jardín de los Reyes

To be honest, it looks pretty promising. I am still going to go ahead with the purchase. After speaking with the developer he made me feel really comfortable on my purchase.

I think if people visited the above site, you will understand why Jardin De Los Reyes is an excellent investment option.

Opinions please.

I think this looks dodgy. Most Spanish devlps are backed by a spanish bank . This one is not. The company appears to be a Uk company. I think you could find other, safer devlps elsewhere. It seems a great idea to generate cash flow tho!!!

[AustralianInvestor]

Originally Posted by nimuex

I think this looks dodgy. Most Spanish devlps are backed by a spanish bank . This one is not. The company appears to be a Uk company. I think you could find other, safer devlps elsewhere. It seems a great idea to generate cash flow tho!!!

Hello Nim,

Well, the 300+ investors that have already purchased in this development including myself will find out after a year. So lets just see what happens if we are all laughing to the bank.

If not, so be it. I still have enough cash in the bank to invest more other locations as well, like Brazil, Morocco, Dubai in the meantime to diversify my investment portfolio.

Sometimes in life you just have to take a calculated risk, you loose some you win some. Luckily enough I have been winning the last couple of years.

Scepticism and pessimism is a curse...