International mortgage customers offered 58pc off Spanish property

Thu, 23 Jun 2011
International mortgage customers looking to invest in Spanish golf property could take advantage of huge reductions made by Polaris World.

The recession-hit developer is hoping to clear its inventory of unsold property by offering substantial discounts on its Condado de Alhama homes .

A two-bedroom property will now set Brits back €85,000 (£75,600), which represents a 58 per cent fall in price.

Murcia-based estate agent Mercers noted that Polaris World has been lucky to survive the credit crisis and is now offering buyers a great deal.

Director Chris Mercer said it could well be the offer of the year, noting that there are also 90 per cent loan-to-value international mortgages available on interest-only contracts for the first two years.

This means that investors would be asked to pay just €242 for a property that sits on a five-star resort.

"This deal would be remarkable on any development, but when you learn it is on a Polaris World site within ten minutes of the beach, five minutes of a Paramount-endorsed theme park, 20 minutes of the new international airport at Corvera and with completed infrastructure to include an up-and-running signature Jack Nicklaus golf course - it gains even more credibility," he said.

Nicklaus is a famous professional golfer who has turned his talents to designing courses.
 
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