La Vida Spain Offers Discounted Spanish Government Bank Property

MURCIA, Spain, Oct. 18, 2013 /PRNewswire-iReach/ -- La Vida Spain specialists in the sale of bank repossession property in Spain have launched the sale of the last remaining apartments on Terrazas de la Torre resort at prices starting from just 41,400 Euros.

(Photo: http://photos.prnewswire.com/prnh/20131018/MN00308)

The properties located around a Jack Nicklaus golf course were repossessed from developer Polaris World by one of Spain's largest banks. They were subsequently aquired by the Spanish government SAREB bank set up to absorb property losses from the banks. The apartments are now on offer at one third of their original price.

Built around gardens and pools many of the apartments offer views over the golf course. They recently featured on TV on the ITV Tonight programme "Bargains in the Sun".

La Vida Spain MD Paul Williams said "in over eight years of operating in the Murcia area we are now offering the cheapest most afordable properties that we have ever seen".

The apartments for sale on Terrazas de la Torre are probably the lowest price for any golf resort property in Spain. Even in today's market it is difficult to find similar quality property in a location just 15 minutes from the beach and airport that offers full security, landscaped gardens, golf and pools with amenities on site for such low prices.

Murcia has led the way in recent years with low price offerings on property with several banks selling out their portfolios recently on popular resorts. CAM Sabadell bank recently sold out over 500 properties on the Polaris World resorts of Hacienda Riquelme and Condado de Alhama.

"We have seen a huge surge in demand in the last two years for quality repossessed product" says Paul Williams. "There is still a large inventory of poor quality homes available from the banks but our international customers from the UK and northern Europe want far more in their purchase of a second home. Hence the attraction of these resorts".

The General Council of Notaries in Spain reported a big rise year on year of sales of property to international buyers from outside Spain in the second quarter of 2013.

Figures from the notaires show that Belgian non-residents second home buyers are up 78%, French buyers have increased by 70% and German buyers by 35%. British buyers are slowly catching on to the increasing demand for second homes in Spain driven by bargain prices. The number of British buyers are up 25% on the same period last year.

The Spanish government recently announced the introduction of an investor residency visa for international buyers spending over €500,000 on a property or portfolio of investment properties in Spain. Although aimed at the higher end buyers the scheme is expected to further boost the recovering housing market.

Media Contact: Edwina Keyser, La Vida Spain, +44 208 429 7115, [email protected]

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SOURCE La Vida Spain