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Polaris World offers bank bargain property

Polaris World offers bank bargain property

The Polaris World resort, made famous by its adverts featuring golfer Jack Nicklaus, is selling brand new bank repossessed properties at less than half their original price.

While prices across Spain have fallen by around 25% from their peak, bank owned properties are selling for a significant discount and overseas property investors are able to snap up even more attractive bargains.

However Villa Cashback, the largest sellers of the Murcia resort's properties are advising interested investors to act quickly as much of the stock made available by the banks has sold in the last twelve months.

They are also warning that the future of such cut price deals and mortgages remains uncertain- with the government bailout of CAM about to result in a sale to a stronger banking group in Spain. There are now only a small proportion of unsold properties which the banks are keen to sell.

Condado de Alhama resort with its Jack Nicklaus signature golf course offers the most affordable property options on any of the Polaris World resorts. Two bedroom apartments with solarium roof terrace are priced at just €65,000 (less than £60,000). Three bedroom apartments with terrace to the back and front plus a small garden overlooking the pool start from just €72,000.

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