Fuseta Ria

[MarkV]

Hi Mark
I see that you are aiming to get as many rentals in as possible. We are investing in a separate development which will not be ready until next year, but are keen to visit in the summer so may be interested to rent your property if it is available.
Do you have any details available, cost, location, rooms, available dates etc
Regards
P

Hi,
Sorry to just get back to you now as i have been working away,

The development i am in is half a mile from Fuseta Ria in a development called Formosa Village, just a 5 minute walk from the centre of Fuseta.
As the most of the apartments havnt completed yet, the apartment still has full availablity, It is a two bedroom two bathroom (1 en-suite).
The rental cost is dependant on exactly what date you are planning on coming over.
Please let me know, i can send you more details and pictures etc on request.

Many Thanks
Mark

 

[manor park]

Hi

To any of the buyers on this site, was hoping to get out there about this time to check on the progress but have not been able to find the time.

If anyone does get out there please make some pix and info available to other buyers so we can keep check on how it is going.

MP

 

[lena green]

January update 2009
Home Page

 

[phil jones]

Hi

To any of the buyers on this site, was hoping to get out there about this time to check on the progress but have not been able to find the time.

If anyone does get out there please make some pix and info available to other buyers so we can keep check on how it is going.

MP

Hi MP I am a new member just joined as I have just reserved on the Fuseta Ria Development. We went out on the weekend of the 7th March this year.
The structures are all up now and we were able to go inside the apartment we subsequently reserved. Unfortunately our camera decided it was not going to work so just got a couple of pics on my phone. If anyone has any recent pics I would be pleased to receive them.
Also We are about to transfer our deposit over to our Lawyer does anyone have any experience of using a'currency exchange' as opposed to simply relying on the bank ?

Phil

 

[lena green]

Hi Phil, don`t go tho` the banks for exchange as you will be stung at both ends and it will cost you dearly. I can put you in touch with an excellent FX arranger I have used for years to bring my cash to Portugal [email protected]

Also January update here

 

[manor park]

Hi Phil

You can try the link that lena gives but if you buy a copy of something like "a place in the sun" magazine you will see loads of ads for them.

I used Moneycorp but you you to ring a few and check the rates as they are changing all the time.

What apartment did you get in the end, groundfloor or etc. ?

MP

 

[phil jones]

Hi Phil

You can try the link that lena gives but if you buy a copy of something like "a place in the sun" magazine you will see loads of ads for them.

I used Moneycorp but you you to ring a few and check the rates as they are changing all the time.

What apartment did you get in the end, groundfloor or etc. ?

MP

Thanks for the advice MP, We have gone for one of the penthouse apartments,
which one are you having ?

 

[phil jones]

Thanks Lena, is it just the fees which are greater or are the exchange rates more preferable ?
Phil

 

[manor park]

Phil

We have one of the first floor apartments, I am surprised you got a penthouse as I thought these were all sold out a while ago.

It should give you great views,

MP

 

[phil jones]

Phil

We have one of the first floor apartments, I am surprised you got a penthouse as I thought these were all sold out a while ago.

It should give you great views,

MP

MP Yes, apparently there were two left, We went out on a viewing trip with Garvetur, this complex was the third one we were taken to and our Realtor advised that based on off plan price it would be a good investment. He had already reserved one of the ground floor apartments very early on, so we were confident he was giving good advice.
While we were there we had chance to go up inside our apartment and onto the roof terrace, you are right, amazing views.

Phil

 

[manor park]

Phil

Out of interest, what else did you look at ?

I am not sure how prices are being affected in Portugal at the moment and am pleased to see that these are still attracting buyers. It will be interesting to see the mortgage valuations once we get close to completion.

MP

 

[phil jones]

Phil

Out of interest, what else did you look at ?

I am not sure how prices are being affected in Portugal at the moment and am pleased to see that these are still attracting buyers. It will be interesting to see the mortgage valuations once we get close to completion.

MP

MP
We looked at Fereiras, Tavira Heights, they were good value, Euro 150,000, finished except for pool. Corcovada just outside Albufeira, looked at atwo bed distress sale, and aone bed ground floor that had been bought by an investor looking to sell. We also looked at Porto Mos where there is due to be built a 5 star hotel on the complex, we were advised prices likely to rise there within next three years, we were shown 2 properties, both 2 bed apartments which were directors properties with a pool serving just 10 apartments, there were properties on there which were in excess of Euro 650,000. We were shown quite a wide variety of properties so could make an informed choice.
We are hoping to go back out again later in year and again for the New Year.
Any ideas as to who may be able to provide some photos as and when the development progresses ?
We have just used Smart currency exchange, so far so good will let youknow, although Euro rate is exceptionally poor at moment
Phil

 

[manor park]

Phil

Sounds like you had a good house hunting trip !

I get regular updates from the company I bought from when they first launched
(R2I) the last one will be not much use to you but happy to send any new ones if you want to send me an email address via PM.

I will be away for a couple of weeks over Easter but want to try and get a long weekend over there May/June and will be happy to take pix and post them up for anyone thats interested.

I will try and keep this thread going upto completion for any owners looking for info on furniture, workmen etc. I am also keeping an eye on the Formosa village thread as they are now complete we may get some good recomendation's on this type of stuff.

From reading the thread on FV we should prepare to make any complaints or queries we have en masse to give them extra weight, I hope it wont be needed as this is a small development but something to keep in mind.

MP

 

[pollitico]

update

Hi Folks
we have just received the latest update but it is too big to send as an attachment. Looks like things are progressing well.
Happy to pass on update to anyone interested, if someone can advise on best way. Via email?
P

 

[Lysos]

MP, Just back today from my regular (more or less monthly, at the moment) trip to the Algarve. Prices are plumetting, as they are in most places, if you are serious about selling. Lots of properties have been on the market for 18 months are more, and serious sellers are dropping asking prices by 25% and realistically accept that to achieve a sale, the actual price will be less. Next time you are over just have a look at the property section in the free expat weekly newspaper you can pick up in Faro airport.

 

[manor park]

Lysos

Thanks for the info, I dont think that anyone is naive enough to believe that the current crisis would not affect the Algarve. At times like this when people stop spending and credit is harder to source, prices will drop.

When this credit crunch does bottom out I think it will be the more established Countries and areas that will start to recover the quickest. The large volumes of "low end" properties in places like Spain may struggle and emerging markets like Egypt and Morocco will take a while to get people's confidence back.

I still think that Portugal is a good place to invest as long as you are looking to the long term rather than a quick profit, this purchase for me is more of a lifestyle one rather than just investment so I hope in time it will be fine.

When I go over next I will certainly be checking out the property papers though.

MP

 

[JWoody]

I am a little confused with this, I was aware that it sold out last year. I am sure that a company called *** now DCC sold the majority of this very quickly?

I looked at it last year with Dream Homes Portugal as their was a couple of townhouses available but I wanted an apartment. Is it the one that has an old house at the back of it and the train track right in front of it? With great views?

Cheers

Jason

 

[manor park]

Jason

That sounds like the one !

Its only a small development and I think that any recent sales may have been from people pulling out due to the current climate.

If you are still after an apartment I can put you in touch with my agent who can check if anything is still going if you want.

MP

 

[manor park]

For any purchasers on this development.

I have now booked to go over there on the 16th May and will be checking how its going, if anyone wants me to check on anything specific then let me know and I will try to help.

I will take some pics and post them on my return or maybe a short video that I could put up on Youtube.

MP

 

[phil jones]

For any purchasers on this development.

I have now booked to go over there on the 16th May and will be checking how its going, if anyone wants me to check on anything specific then let me know and I will try to help.

I will take some pics and post them on my return or maybe a short video that I could put up on Youtube.

MP

Hi MP,
have a great time, look forward to seeing the pics and video
Phil