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Recreation Travel Tips :: Polaris Golf Resort
Polaris Golf Resort: Should You Buy a Vacation Home at Polaris Golf Course and Resort?
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In Murcia, Spain, you'll find the world-class Polaris golf resort. On the property are over 35,000 vacation or retirement homes, three Inter-Continental hotels and nine Jack Nicklaus-designed courses over a span of just 15.5 miles. It's a mega-plex of golf.
And though prices are low and the homes are affordable, is it worth buying there? Will the properties increase in value? Will fuel taxes on flights get too high, making twice-annual visits unaffordable? Is it worth the cost? For an overview of the benefits and drawbacks of buying property at the Polaris Golf Resort in Spain, keep reading.
No UK Competition
Though buying a golf home has been the preserve of the cash rich, this may just be the time to bag a bargain, particularly in Spain. Because the UK market has seen its lenders reluctant to finance overseas purchases, the Spanish market has been badly hit. Because sales have declined so significantly, the prices have really dropped – making these homes very affordable.
Slow Sales Equals Bad Business
However, though slow sales mean great deals – they can also mean financial fallout. With sales down significantly, several developers have declared themselves bankrupt leaving house hunters nervous about buying property off-plan. This isn't the case with Polaris, but it's a concern held by many prospective buyers – especially when purchasing from overseas.
New Polaris Courses and Resorts Coming In
Polaris World, the developer behind Polaris resorts, has three golf developments already completed while their flagship Alhama de Murcia, with three signature golf courses, is well under construction.
Their latest project is called Condado de Alhama and will be by far the largest Polaris World golf resort ever constructed with three 18-hole Jack Nicklaus golf courses at its heart, two of which will be designed by Nicklaus himself. The houses there start at around $70,000.
Potential for High-Value Increases
The regional government wants all future courses to be public so only hotels, not residential development, will be permitted. That means that when the market does pick up, golf property will be an endangered species.
The protected views, big green back gardens, abundance of on-site facilities and ability to tee off virtually on the doorstep will be preserved for the owners of current residential golfing stock. That means your property investment could wind up in seriously high demand.
So, if you're considering purchasing property at a Polaris golf resort in Spain – remember that there are opportunities for high returns, but there are also risks, especially for foreign buyers. Before you invest, consult with a local lawyer and real estate agent.
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RecreationTravelTips.com :: Polaris Golf Resort