Formosa Village Update

[eric]

I visited the site last week and also spoke to the devoper (as opposed to the builder). They stated that they were as frustrated as we were about the delay in the habitation licence. Currently they are having to re route the electricity cable from one side of the site to the other. I think to make access easier. I raised the issue of the artificial grass being badly laid i.e. it is bumpy and the joins are far to obvious. The artificial grass is of a good quality.
There are no electric (or manual) shutters on the lounge windows despite information to the contrary.Nor are there any fly screens.
They say that they are still hoping to gain the habitation licence soon although I would be surprised if it happened before well into the new year. They say they are not liable for any penalties because the building work is complete.
They have a few apartments for sale (resale because originally all sold?) that are well above the price we are paying; though, of course, that does not mean they will go for that price.
We have raised a few more minor issues and hope to get a response from the developer
Remember when site is ready our purchasing power is stonger through the condiminium owners rather than purchasing individually e.g.satellite TV
regards
Eric

 

[Declan B]

Hi Eric

Tks for the update and frustrated at delay would need to take advice however would have thought that if not delivered by 2009 then liable to penalty regardless if in their opinion building work is completed

Agree with your comments re satellite and indeed any other facilities

How do the interiors look , well finished ? or were you inside

any further forward with aircon, furniture etc

do you have contact details for the developers??

cheers

Declan

 

[eric]

Further info

Hi Eric

Tks for the update and frustrated at delay would need to take advice however would have thought that if not delivered by 2009 then liable to penalty regardless if in their opinion building work is completed

Agree with your comments re satellite and indeed any other facilities

How do the interiors look , well finished ? or were you inside

any further forward with aircon, furniture etc

do you have contact details for the developers??

cheers

Declan

Hi Declan,
The interiors generally look fine, doors and fittings generally of a good quality although white goods are all made by indesit so hardly upmarket there. No further forward with air con, furniture looking more promising. The developers have told us that we can install furniture anytime even if the habitation license hasn't come through. The developers are URBINVEST and have offices based in Villamoura. Had hoped to hear from them after our visit, but so far nothing. There is large room at the same level as the swimming pool which they are considering offering for communal use but this will be decide at the first meeting by the owners.

cheers
Eric

 

[Gavin]

Furniture packs

I bought an appartment last year and am now finally close to completion!!!!
The appartments are looking great! Just a quickie about furniture as I've just got mine sorted by a company called Ideal Living, their furniture are great, practical and the price even better. They will have my property furnished before Xmas as I intend to start marketing in early 2009.

 

[MarkV]

Hello Gavin,

Would you be kind enough to give me some more details on the company you have used for furniture? i was in the algarve in september this year of which i visited a couple of companys who provide these 'furniture packs' but was dissapointed to what i saw really? Is it a new company? as i havnt heard of them before, has anyone else???
The way things are back here in the UK im really wanting to get as many rentals as possible as soon as possible!
Whilst on the subject im also looking for a property management company who can look after the apartment.

Any information anyone has would be great as im relativly new to the Algarve .

Thanks everyone.

Mark

 

[eric]

Furniture

Hello Gavin,

Would you be kind enough to give me some more details on the company you have used for furniture? i was in the algarve in september this year of which i visited a couple of companys who provide these 'furniture packs' but was dissapointed to what i saw really? Is it a new company? as i havnt heard of them before, has anyone else???
The way things are back here in the UK im really wanting to get as many rentals as possible as soon as possible!
Whilst on the subject im also looking for a property management company who can look after the apartment.

Any information anyone has would be great as im relativly new to the Algarve .

Thanks everyone.

Mark

Hi Mark,
I can recommend Planet Sofa which is based in Lagos. The advantage is that you can visit a showroom in England to examine furniture first. Its good quality competively priced. Their website is furnishyourabode.com. Are you another formosa village investor? If so where are you from and which appartment have you bought? It might be better to decide on property management company after the first meeting for owners which I anticipate will be planned fairly shortly now that the habitation licence has been granted.
cheers
Eric

 

[MarkV]

Eric,

Thanks for your reply, however i have now purchased through Ideal Living. The furniture was installed this week and im delighted by the service as during the installation ive been updated and sent photos with the progress.
I personally spoke to the owner of the company (who is actually from North Yorkshire) he has recomended a property management company who he works closely with.
I have done some homework on them and all reports are excellent should you need the details just let me know? Maybe it is something we can discuss at a later date with the rest of the tennants?
My apartment number is 204N, hope to speak to you soon.

Thanks again.

Mark

 

[Declan B]

Formosa village

Hi Mark

Ref your last post,puzzled how you have had furniture installed when appartments not yet handed over ? well mine hasnt been ! and habiation license just issued within last week

Also please advise what blcok you are in west closest to Olhao or east closest to tavira

Would be keen to get details of management company recommended

cheers

Declan
belfast,northern ireland

 

[MarkV]

Declan,

My apartment is on the east side nearest to Tavira.

A group of friends i know have purchased several apartments all in that block and mine has been the first one to be furnished,

I have known the owner of Ideal Living for several years and believe he works closely with the developer? Allowing him to furnish apartments before completion.

With the property management company i will get the details for you, or if you want to give me your email address i will ask them to contact you?

Many Thanks

Mark

 

[eric]

eric

Eric,

Thanks for your reply, however i have now purchased through Ideal Living. The furniture was installed this week and im delighted by the service as during the installation ive been updated and sent photos with the progress.
I personally spoke to the owner of the company (who is actually from North Yorkshire) he has recomended a property management company who he works closely with.
I have done some homework on them and all reports are excellent should you need the details just let me know? Maybe it is something we can discuss at a later date with the rest of the tennants?
My apartment number is 204N, hope to speak to you soon.

Thanks again.

Mark

Mark, Thanks for info. I'm in apartment 206N in the east block so very close. Haven't paid balance yet because waiting for reply from developers on queries about external environment including concerns about ground sloping away from pool making it very difficult to put sunbed next to pool. Am happy with apartment internally. Hope to speak to you soon.

cheers
Eric

 

[Declan B]

Formosa Village

Thnaks for the update Mark

Have you heard any news about actual completion date ?

Think it is worthwhile for all tenants to be in contact due potential purchasing /negotiating power for aircon /satellite, any other common services

Please let me have details of the management company
What do you see potential rental income form the apparrtmet

I am actually in west block in appt no 204 so directly facing you!!

What part of the world are you from

Cheers
Declan

 

[MarkV]

Eric/Declan

Good to hear from you both, i am from Settle in North Yorkshire.

Think the point on the sunbathing area is quite valid, i've just looked at some photo's taken recently and there is certainy a lack of a decent sunbathing area, i would be interested in what the developer as to say.

My friends and i got a quote from a Portuguese Air Con firm before xmas and they gave us a price of €2200 per apartment, however we are still not certain whether it is necessary, may give it 12 months before we decide? I agree the satellite needs discussing.

Not had any news from my lawer regards the completion date but am sure it will be pretty soon.

I think the rental income is anybodys guess, its not an area with a proven market, and may take a year or 2 get established? However if it is marketed well i think we might be pleasantly suprised!

I will send you the details of the property management company later on this week as i am currently working away from home.

Many Thanks again guys.

Mark

 

[Gavin]

Hello Gavin,

Would you be kind enough to give me some more details on the company you have used for furniture? i was in the algarve in september this year of which i visited a couple of companys who provide these 'furniture packs' but was dissapointed to what i saw really? Is it a new company? as i havnt heard of them before, has anyone else???
The way things are back here in the UK im really wanting to get as many rentals as possible as soon as possible!
Whilst on the subject im also looking for a property management company who can look after the apartment.

Any information anyone has would be great as im relativly new to the Algarve .

Thanks everyone.

Mark


Hi Mark,

Sorry not to reply before, still trying to get back to normal life after all the Xmas and New Year festives The company I have used for the furniture only opened their portuguese branch last october, their name is Ideal Living, they are based near Almancil on the N125 and the only contact detail I have is of their designer, her name is Liza and her contact is 910410710.
Hope this helps?....
Take care,

Gavin

 

[MarkV]

Thanks Gavin,

Already got my furniture thanks, and i did deal with Ideal Living, well impressed!

Thanks again

Keep in touch as completion must be close now??

Mark

 

[eric]

Developer Response

Hi fellow investors,
Thought some of you would like to know of the response we got from the developers re our queries and concerns. Firstly the good news they have told the builders to re-lay the grass on the upper terrace to ensure it is flat and looks more realistic. They are also going to put some plants in pots similar to those shown on computer images. With regard to the slope away from the pool I quote " the pool had to be placed in a higher level to the river and because of the basements height the area around it has to slope away a bit to meet the terrace on the ground floor." The developer also said the grass around th pool was going to be replaced with a new natural grass carpet. With regard to electric shutters for the lounge windows it says that was never in the contract.
Whilst I still think improvements could be made I am happy to proceed with the purchase. Others problems could be addressed at the first meeting of the owners. I hope this is of some help.

best regards
Eric

 

[Linda0808]

Developer Response

Hi

I've just recently been told about this site. I am also a Fellow owner of 2 Appts on the ground Floor (closer to Olhao). I also raised the queries of the 'grass' the 'area around the pool' & the 'shutters' with the Solicitors - as yet I have had no response... Your response while most of it is positive - I still have concerns re the Shutters - They are right it wasn't in the contract - However, neither where the shutters that where placed on the bedroom windows. I feel it is a safety aspect - probably more in my case as we are on the ground floor - but also we weren't asking for electric shutters - the ones in the bedrooms are manual & I feel that they should have been put them on all frontal doors.

As you all have mentioned I am very happy with other aspects of the Appt and I cannot wait to get everything signed & sealed - as it has been a long time coming

Talk Soon
Linda

 

[Elaine O Neill]

Hi,

We also have an apt 104 Olhao side in formosa village would be very interested in any updates available. Waiting to here from solictor on final payment etc.

Look forward to owners meeting,Elaine and Paul

 

[Linda0808]

Formosa Village

Hi Elaine & Paul

Looks like we're neighbours - we're 102 & 103!

Where are you from - seem to be building up a good communtiy here - We're Irish from Drogheda, Co Louth


Linda & James

 

[eric]

Hi Linda & Elaine,
It's great to have more and more owners making contact on this site. It seems that there is a strong Irish contingent on the west side of the development and mainly English on the east side. We are from Stone in Staffordshire which is close to Stoke-on-Trent. I expect most of us have bought through *** and I wonder if others are as disappointed as us in their current aftersales service.
With regard to the pool area we have tried to push the developers further without any success. I do think it is important we have flat area around the the pool that can be used to sunbathe and keep an eye on any family members in the pool. The developers have been suggesting that we are the only ones to query this so it would help if other owners could make their feelings known.
I look forward to meeting many of you fairly soon.

regards

Eric

 

[Linda0808]

Hi Eric

I mentioned my complaints to solicitors - If you can fwd me the details (either e-mail address or Phone No.) I will let my concerns also be known to Developer.

I agree - its great we can communicate all of our concerns here & yes I agree with you about *** but once I purchased I didn't want any more dealings with them - The only time they contact you is to see if you want them to manage your Appt - Helloo.... Think I'd prefer my 9 yr old to manage it...

Linda