Puddleduck

Does anyone know if there is a thread on the new complex being built in os Cristianos - Tenerife - El Rincon. This is due for completion around Jan 2007?

Mike in Chayofa

There wasn't ... but there is now. Let's hope that it becomes a useful and helpful thread.

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ainsie

Hi I have asked one or two privately on this but a question to the masses,

What do the people involved with property or have a knowledge of it think of this new development. Will the bulldozers come(paranoid). Will it rent well. or more importantly is it a tourist complex by name. Great location I know.Lastly when is it finished?

Any other info would be great.

Tom

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Tom
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apartment man

iam not sure its along way out iam not really keen down that end but others will flock to it i am sure.
http://www.key-property.com/el-rincon.html

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jogger321

Its residential...not that means anything (a brief read of this forum will confirm that)...Loved the estate agent speal that apparently its 2 mins from Los Cristianos centre lol ( travelling by what I ask because it sure ain't on foot)

doreen

I like the El Rincon location ... problem is price ... you will have to take over someone's contract to get one, for I believe they all sold out a long time ago. I was offered a large one bed on the 3rd floor at 250,000 about 18 months ago. There is also a commercial centre about to be built in front of it, so you would want to be sure of how the views would be affected. Judging by the last time I drove past, they will be ready quite soon, which is when some people will try to off load before closing ... happy hunting!

ainsie

I own 1 in Paloma Beach and thats 1 1/2 mins from centre, isnt it?? Thats what I put on the site

Is the commercial center going to be right on front of it, it looks that way from the pictures, it seems it will be low rise though

I see there are some still going for 250,000 with views. Only problem here is yeild though and that wont be known until they start renting.

One other thing, I did notice that one or two apartments went much lower than the norm in El Mirador, one for 136,000 for instnce , was this by chance that someone could not pay the final demands and wanted rid of it and if so does this happen often on new developments?

No I'm not a vulture!!!!

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apartment man

course your not just fishing lol

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Mike in Chayofa

Not the 'norm' but it does happen.

Buying off plan and then selling on the contract before completion of the project to make oodles of money is a surefire way to make loadsamoney - innit?

The answer to this - sometimes.

Buying a well located property off plan is still very lucrative.

Buying (or being persuaded to buy) a badly located property is a recipe for disaster in this day and age because the developer will want his money when the development is complete. Your options are then to complete on the deal that you have made in some way or another, or to back out of the deal and lose your deposit.

Property prices on any development will vary for the same property depending on location. So, for example, a comparitively cheap 'whatever bedroom apartment' that faces north and looks out onto a brick wall may be snapped up by a Spanish family, but will almost certainly not be considered by someone wanting to do holiday rentals.

It would be most unusual for a Spanish family to consider buying an off plan resale, so you basically have an apartment to sell ... and no market for it

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boredinscotland

Location is fine, further away from Veronicas the better, that was our way of thinking when we were looking to buy.Nice big apartments. New shopping centre means a lot of investment in the area (if the shops get filled) Renting wise, it is a lot of years just to break even. Buying a contract from someone who bought off-plan is fine if it is a good location and price is OK. The 136k one on Mirador???? we bought a contract on Mirador and the original price was more than that

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