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 Post subject: Property in Playa Blanca
PostPosted: Thu Jan 15, 2015 8:55 pm 
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Joined: Thu Jan 15, 2015 8:47 pm
Posts: 8
Hi

Thinking about buying a villa in PB.

Probably want a 2 bed 2 bath but confused over the best area. I will be renting it out (I know about the legal status of this!) for the summer months and using it myself out of season.

There are lovely new build villas around EU 220,000 over at Monta Roja but they aren't walking distance to town.

I want to spend around EU220k and want a villa with a private pool. Where's best from a rental perspective? Somewhere closer into town? I have been told Costa Papagayo but it looks a bit like a construction site.....

Any suggestions???

Also I'm guessing discount off asking price is dependent on the desperation of the seller - am I right??

Cheers!!


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 Post subject: Re: Property in Playa Blanca
PostPosted: Sun Jan 18, 2015 9:37 am 
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Joined: Sun Jan 02, 2011 7:39 pm
Posts: 86
Hiya, putting offers on a property is much like this country....you decide what you feel it's worth and are prepared to pay, put your offer to the estate agent and then see!

Depending on your circumstances could help give you a strong position....for example if you don't need a mortgage and have 'cash'.

If you are unfamiliar with Playa Blanca....I'd strong recommend you take some time out to go out and set up half a dozen viewing for different locations in PB.....that will really help.

When we did that it helped us decide what was important...you mention Faro park....which I understand is popular for both residents and rentals but for me personally was too far from town, I wanted something relatively close to walk into town.


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 Post subject: Re: Property in Playa Blanca
PostPosted: Mon Jan 26, 2015 6:35 pm 
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Thanks that's really useful. Can you let me know what developments you consider to be walking distance from town or Marina Rubicon?

Cheers


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 Post subject: Re: Property in Playa Blanca
PostPosted: Mon Jan 26, 2015 7:02 pm 
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From town Id say :

Las Terracitas
Casas del Sol
Jardin del sol
Puerto Chico

I'm sure there are others...perhaps someone else will chip in. Marina - sorry I'm less familiar with that side, so couldn't comment on that.

Take a look at estate agents websites that are based in Playa Blanca - Optimas Estates and Freedom properties.

That should help with properties/locations and prices.


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 Post subject: Re: Property in Playa Blanca
PostPosted: Mon Jan 26, 2015 8:44 pm 
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Joined: Thu Jan 15, 2015 8:47 pm
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Hi

Thanks that's really helpful but most of the places you list are on developments with communal pools etc. I want somewhere with it's own pool. Any thoughts?

Thanks


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 Post subject: Re: Property in Playa Blanca
PostPosted: Mon Jan 26, 2015 9:17 pm 
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Aah my apologies, I didn't reread your original post before replying!

Las Terracitas - some of those properties do have their own pool, so your right of those I listed limited choice.

Probably suggests you may have to look further afield if own pool is none negotiable.

Still worth looking through the estate agents I recommended to help you look at options and then you could use google earth to help picture where the property is within resort


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 Post subject: Re: Property in Playa Blanca
PostPosted: Tue Jan 27, 2015 10:41 am 
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Depends what sort of pool you want....!

Our villa has a communal pool, and I much prefer it as a) you don't have the responsibility of cleaning and maintaining the pool (ok we do pay a community fee which covers that and the gardening etc) and b) the pool is far bigger than what you would get with a basic villa which are little more than plunge pools.

MOst of the newer build developments with pools are out near the Marina/colarades area or Faro Park.

The older areas which have a great location such as Magaritas are very pricey - £500k plus

The villas around the red mountain have big pools but again very pricey.

For £220k you will struggle to get anything more than a plunge pool whereas you could get one of the nicer villas on say La Perla or Casas del Sol, Las Casitas or the one behind Casas Del Sol whose name escapes me...

So your decision is likely to be great location with communal pool or not so good location with small private pool....


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 Post subject: Re: Property in Playa Blanca
PostPosted: Tue Jan 27, 2015 3:48 pm 
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Villas with pools for sale at Las Buganvillas off Calle Europa. There is often a agent on site.


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 Post subject: Re: Property in Playa Blanca
PostPosted: Tue Jan 27, 2015 5:09 pm 
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Thanks everyone so far. That's the dilemma - central location v private pool. I need it to rent well. I'm guessing I will get more bookings with a private pool than I would from a closer in location with a communal pool. Or am I wrong?

Cheers.


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 Post subject: Re: Property in Playa Blanca
PostPosted: Tue Jan 27, 2015 11:40 pm 
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I may be wrong here, but communal pools are unlikely to be heated, whereas private ones can be. That might make a difference to winter bookings.


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 Post subject: Re: Property in Playa Blanca
PostPosted: Wed Jan 28, 2015 9:33 am 
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If you are needing to rent it to make ends meet you really need to look at your numbers again....

Do some research on owners direct at the sort of villa you think you would like and the weekly cost.

Also some of the residential developments don't allow renting - and you will p*ss off the other residents if you do.

After tax, cleaners, general maintenance etc you aren't going to be making more than a grand or 2. The rental market is incredibly competitive - you can't guarantee anything....looking at the websites Casas del sol max weekly price is £385 per week for a 2 bed. A 2 bed villa with private pool out in Faro Park will get around £500 per week in peak periods.
Based on 10 weeks peak time, you are looking at £5k per year before tax and maintenance, cleaning etc...for me thats not much of a return on investment.

John - you are wrong! Most of the communal pools I know - Casas del sol, La perla are definitely heated - but not overly - 24C - whereas private pools likely to be 27C and above.


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 Post subject: Re: Property in Playa Blanca
PostPosted: Wed Jan 28, 2015 11:01 am 
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Hi - I was hoping for around 20 weeks a year - one agent said 46 weeks but I took that with a very large pinch of salt!!

Hoping to get EU6k after costs as my return - around 2.5% so I'm not hoping for the earth!!

I get 30 weeks a year at my UK holiday let by the way and around £10k after costs each year and just look at the weather in England!!


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 Post subject: Re: Property in Playa Blanca
PostPosted: Wed Jan 28, 2015 12:08 pm 
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Wow! I think 20 weeks is optimistic unless you are really going to undercut the others on price.

And of course the more usage the higher maintenance cost....

And of course it will be tricky to get it all nice for you when you want to go of course.

Anyway am sure others who rent out property will have there thoughts....


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 Post subject: Re: Property in Playa Blanca
PostPosted: Thu Jan 29, 2015 8:14 pm 
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It's a difficult dilemma....we considered buying and renting out, in the end we bought a smaller property which means we don't need to rent it out.....and now I would hate it if other people were staying in it and then I was going after!

For me it was the right decision.

We did do lots of research and viewed all types of properties in different locations around Playa Blanca. What looks nice on the Internet doesn't always translate in reality.

Would really recommend you set up lots of viewing then start eliminating from there.


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 Post subject: Re: Property in Playa Blanca
PostPosted: Thu Jan 29, 2015 9:14 pm 
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Also there seems to be a huge amount of property for sale in Playa Blanca. 330 listed on Rightmove alone....

On top of that there also seems to be a lot of land yet to be developed. We could be in for further price falls for years to come - agreed?


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