Further Price Reductions on Last Properties

5 May 2012: With most of the CAM bank properties now sold the new owners of CAM bank, Sabadell Banking Group, are keen to accelerate the process and clear the stock within the next few months. Hence the decision this week to slash prices on Hacienda Riquelme resort by a further 25% and reduce Condado de Alhama to just €65,000 (close to £50.000 as Sterling continues its climb against the Euro).

hacienda riquelme resort

Properties at Hacienda Riquelme here were already on offer at half price. A further discount of 25% means frontline golf apartments can now be bought at under €70,000. Every property is offered with a minimum €100,000 discount to its 2007 price. Penthouse apartments can be bought at under €100,000 - a discount of over €160,000 from the original price.

Hacienda Riquelme has provided some of the best deals on property Spain has had to offer in the last 18 months. It has been the largest selling Polaris World resort in the last two years. But the stock is now close to sold out and buyers will have to act soon to pick up one of the last properties.

Hacienda Riquelme is located close to the town of Sucina just in front of the mountains and offers views as far as the Mar Menor and Mediterranean. The resort is just 15 minutes' drive from San Javier airport in Murcia. The golf course is one of six Polaris World courses now run by IRM and recently hosted the Spanish Pro Championship.

condado de alhama resort

At Condado de Alhama resort prices of the two bedroom apartments with roof terrace have been reduced to just €65,000. Three bedroom ground floor apartments with gardens and terrace are available at just €70,000. The resort of Condado de Alhama was the largest built by developer Polaris World. All the apartments surround swimming pools and offer an ideal location for families with children

mortgages for overseas buyers

CAM bank is offering up to 90% finance for buyers from the UK and elsewhere within the EU. However applicants must have the necessary paperwork to support a mortgage application. In particular either P60 annual earnings, pay slips or for self employed people two years annual tax returns. Sabadell has tightened up its lending in recent months. The bank is keen to maintain its quality of lending to homeowners while using price reductions on properties to attract buyers. The reason behind this is quite simple. The losses on properties sold by the bank are mostly covered by the Spanish government. Sabadell can sell the CAM properties at huge discounts without picking up the whole bill. That's where our buyers can really benefit from the Spanish government bailout. (Read More:Market Watch ) If you are in any doubt as to the likelihood of a mortgage or wish to discuss the opportunities in more detail please call our team on +44 (0)208 429 7115.