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Fractional Ownership Of Golf Resort Appartment In Spain

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I am on the verge of buying into one of these fractional ownership schemes - any opinions appreciated / for's against etc.

Going to put down a deposit tommorow unless I'm scared off it.

I know there may be euro pound fluctuations to consider.

Purchase price 25,000 euros (12th share of appartment).

Yield 12% if I never visit it and just rent it out. 4 x 1000 euros - 1250 yearly maintenance fee.

This link gives more detailed info:

http://www.newskys.co.uk/listings/details/1330994/

:-)

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I am on the verge of buying into one of these fractional ownership schemes - any opinions appreciated / for's against etc.

Going to put down a deposit tommorow unless I'm scared off it.

I know there may be euro pound fluctuations to consider.

Purchase price 25,000 euros (12th share of appartment).

Yield 12% if I never visit it and just rent it out. 4 x 1000 euros - 1250 yearly maintenance fee.

This link gives more detailed info:

http://www.newskys.co.uk/listings/details/1330994/

:-)

Money down the drain in my opinion. You will never get that rental yield. You be lucky if the thing rents out 10 weeks a year. That is 1 week on your fraction.

that is 15K maintenance fee on the whole apartment. Is it made of gold?

Edited by soldintime

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My main concern is will the property hold it's value with all the carnage in the Spanish Property Sector and banks that may be yet to get worse. Buying next year may be even cheaper - but there again this is quite a low level (therefore low risk) investment so perhaps 'he who dares wins'

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Money down the drain in my opinion. You will never get that rental yield. You be lucky if the thing rents out 10 weeks a year. That is 1 week on your fraction.

that is 30K maintenance fee on the whole apartment. Is it made of gold?

Ok where's you source on this rental potential, do you have hard evidence on how other 4* type golf resorts are renting out in terms of occupancy rates in the Costas - or am I just plain gullable and it is common knowledge that nothings renting out?

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Ok where's you source on this rental potential, do you have hard evidence on how other 4* type golf resorts are renting out in terms of occupancy rates in the Costas - or am I just plain gullable and it is common knowledge that nothings renting out?

Well find me a house that rents out 50 weeks a year. I think you live in la la land. These developments are always offered to you with best possible results. What if the worst happens and you rent it out for 1-2 weeks a year at less money. Would you still want it.

FAct in spain is that there are 5 million holliday homes and 50 Million tourist a year. There is also hotels. Most people will tell you that if they are lucky they get 3-4 weeks rent a year on full ownership.

Fractional ownership makes overpriced stuff look affordable, don't fall for it.

I found this house in 30 seconds via google it rents for €400 a week high season and it overlooks the golfcourse. This is a whole house not an appartment. You can walk from the garden onto the green. It has Equestrian Centre, the Local Gun Club, Swimming Pools, Cycling and Paddle Tennis. I might go there myself.

Golf in Spain townhouse

Honestly if you are into golf rent this one and a lot of others at this price. You get a different golf course each time. Put the 25K euro in a good term deposit and you have your holidays for free.

Edited by soldintime

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So 12 X 25,000 so 300,000 for an APARTMENT. Are you mad?

I don't know where it is but I tell you this. The nearest golf course to me has hundreds of empty apartments with some blocks around the course totally empty. They can't sell them and they can't rent them. And 1250 a year for maintenance fees? Are you sure they will be carried out?

You could get a fornights holiday in high season for 1250 a month every year and you would still have your 25000 in the

bank. It's your money, but I would stay well clear.

Edited by markinspain

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Thanks for all the replies on this - think I may not go ahead now - by the time I take off what I can earn on 3% in the bank anyway I'd only be making an extra £2000, assuming everything went 100% smoothly - that's before deductions for currency swapping.

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Thanks for all the replies on this - think I may not go ahead now - by the time I take off what I can earn on 3% in the bank anyway I'd only be making an extra £2000, assuming everything went 100% smoothly - that's before deductions for currency swapping.

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