Plans!!!

[Pinky]

Hi, I have been allocated my appartment, AP1 block8, appartment 9 on the third floor with side Terrace. I have been quoted 89000 euros for this 2 bed appartment. I have also been told that ap4 is going to be 5 % more. I am going to visit site on the 23rd sept. Is anyone else going out there?

[CARLYWOO]

AP4 is not 5% higher prices are exactly the same I have a penthouse on A
p4 the price is same as Ap1

[romablade1889]

I think this is a misunderstanding.

From what I've been told, the post-release prices for AP4 will be 5% higher than those on AP1. This is standard practice for build projects in the UK as well. The earlier you commit to buy a property the cheaper it is. The buiilder is basically desperate for cash to fund the project as it progresses so is prepared to reward those willing to take the additional risk of buying early with cheaper prices.

So, the book price of AP4 will be more than AP1, AP5 will be higher still, AP6 higher still and so on.

HOWEVER, the confusion is that for those of us that have pre-registered AP4 are the same price as AP1. Fadesa are using this to soften the pain of having been moved from AP1 to AP4. They're trying to make it sound like they're doing us a favour by affectively giving us an apartment in AP4 cheaper than it should have been had we walked in off the street and asked for a price yesterday rather than pre-registering. I don't blame them - common ploy..

[stella]

Hi Carlywoo,

I have been told than a penthouse has come up on AP4 and is available at Eur 106,000.00

How does this compare with your agreed price, and have you been told whether you will have a seaview from your location ?

Regards

[CARLYWOO]

Hi Stella yes Penthouse prices are 105.992 euros what block are you on do you know

[stella]

Hi,

I'm not sure really I spoke to the guy at International Property Estates today and he said this one had just come up.

He told me that AP4 had moved into the AP7 corner next to the road that devides AP8???

Should het some more information tomorrow....

[romablade1889]

Hi Stella,

It is true (at least this week) that what appears as AP7 on the Plan De Zonage is now AP4. What was AP8 is now AP1.

It seems that anyone who hasn't bought direct from the developer is being moved from AP1 to AP4, p-ing off the agents and the majority of thier "potential" customers.

I for one am now questioning Fadesa's moral standards. If they stitch up their channels to maret as flippantly as they seem to have, what will they do us defenseless individuals if anything should go wrong with our purchases.

[Stevie]

Your post makes the presumtion that AP1 to better than AP4. Why is this the case?

[fabs35]

It's not that it's better - we don't know anything about AP4 re number/density of units, direction of properties, location of pool etc.

[romablade1889]

Your post makes the presumtion that AP1 to better than AP4. Why is this the case?

Logic and speculation... Logic that I hope is wrong otherwise I've wasted the last four weeks waiting for release of this project when I could have been investing elsewhere (at least the exchange rate has gone up in that time though).

The release of the plans for AP4 (expected next week) will prove it either way.

You could say I'm being pessemistic, but I've been involved in buying overseas investment properties for almost 10 years now and my pessemism is based on experience... It goes something like this:

- AP4 is a bigger 'parcelle' than AP1 so chances are you'll be further back from the front. Position is key if you're thinking of selling on or rening out. Overtime, first or second line apartments will hold a premium price over those in 3rd, 4th and beyond.

- AP4 has a hill in the middle of it (see the plan da zonage). Therefore, some blocks are inevitably going to be on the slope facing away from the sea. So you can kiss goodbye to your sea view and probably say hello to an inland view of the rest of the development.

- AP4 is only supposed to be 5% higher price than AP1 (although as per the debate on another thread we should not be asked to pay this 5% premium as we were moved form AP1). It's common practice for phase 2 to be a % higher than phase 1 (we were told by the developer that it would be 5-15% higher). 5% isn't a large premium which suggests AP4 apartments can't be better in quality/position etc than AP1 otherwise the developer would charge a greater premium...

- The developer needs to sell apartments as quickly as possible to create cash flow for the ongoing development project. So why would he sell an inferior 'parcelle' first and risk not selling them all and raising maximum cash?

- I was told that the AP1 apartment I had been allocated was in the best block of the development because it was overlooking the pool and had sea views from the 1st floor. If AP4 is better than AP1 then someone was telling me porky pies before...

Like I say, I seriously hope AP4 is as good as AP1, my heart wishes it to be so, but my head tells me it won't. Monday isn't far away so we'll find out soon....

[gazd]

Probably being a bit optomistic and my agent doesnt have half the information you do but on page 8 of my fadesa plans shows the apartments with the best likelihood of a sea view are on the hill, which is now ap4. Heres hoping.

[shak]

I was taken to the site by Fadesa staff in Morocco (almost doing me a favour no plans etc were to hand any half sensible question was answered with I dont know) Attitude was why are you asking questions when everybody has bought them without questions

The plot has two elevated areas with dence vegetation so we do not know the conture of the land ( the first elevated area is towards the sea near the road where there will be the apart hotel hotel) AP1 will be behind and may end up having some of the blocks in the valley. I am 95% sure that apart from the corner properties looking diagnally we will not have a sea views.

I was not provided with any kind of sample of materials etc that would be used despite of my polite insistance (the developer last project was of a very poor quality) There will be no airconditioning, the kithen white goods will only include hob & oven.

I also feel AP1 will be very noisy due to its close proximty to the Hotel & the apart hotel. AP 4 is going to be exactly the same the the only difference is that the parcel of land is bigger and will be less dence.

Villas are not actually Villas as we know them. They are semi detached?terraced group of 4 town houses, with no pool very little small area for garden/pool.

My honest opnion over hyped, will be of poor quality as comparable to builders track record.

I for one like many otheres feel that I have wasted my time on the development and will not be buying.

[sabrina]

Hi Shak, Romablade,

how do you know that AP 4 is going to be less dense than AP 1?

Have Fadesa said anything about air conditioning and what is included in these apartments?

From the plans it looks like the apart hotel, AP1 and AP4 are at the front of the development, so they are all close to the beach. Isn't that good? I was told that there would be sea views from the first floor up, is this true?

Romablade, you have said that you have been allocated AP 4? Can i ask if you are buying more than 1 apartment? If so then I think AP 4 must be better. They are more likely to give a bigger investor a better deal.

Do you know if the prices for all the blocks in AP 1 are the same? Or does it depend on location of the block?

From my AP1 blockplan and zonage map, the north is in two different directions, does anyone have a better map?

Finally has anyone else been on an inspection trip?

[shak]

Romablade is correct about location/commercial logic. AP4 will be bigger because of the parcel of land and the no of blocks going to be built on it.. THERE WILL NOT BE ANY AIRCONDITIONING ONLY THE DUCTING FOR IT.

Please read my earlier message. There are no organised viewing trips. My advise is if you are hell bent on buying there do so but be ready for the dissapoitment. If you thinking of flipping thats what half of them are intending to do.

[sabrina]

Hi Shak,

Do you think Colina Smir is a better investment?

Which development do you mean when you say the last develoment that Fadesa did was poor.