Stevie wrote:Your post makes the presumtion that AP1 to better than AP4. Why is this the case?
Logic and speculation... Logic that I hope is wrong otherwise I've wasted the last four weeks waiting for release of this project when I could have been investing elsewhere (at least the exchange rate has gone up in that time though).
The release of the plans for AP4 (expected next week) will prove it either way.
You could say I'm being pessemistic, but I've been involved in buying overseas investment properties for almost 10 years now and my pessemism is based on experience... It goes something like this:
- AP4 is a bigger 'parcelle' than AP1 so chances are you'll be further back from the front. Position is key if you're thinking of selling on or rening out. Overtime, first or second line apartments will hold a premium price over those in 3rd, 4th and beyond.
- AP4 has a hill in the middle of it (see the plan da zonage). Therefore, some blocks are inevitably going to be on the slope facing away from the sea. So you can kiss goodbye to your sea view and probably say hello to an inland view of the rest of the development.
- AP4 is only supposed to be 5% higher price than AP1 (although as per the debate on another thread we should not be asked to pay this 5% premium as we were moved form AP1). It's common practice for phase 2 to be a % higher than phase 1 (we were told by the developer that it would be 5-15% higher). 5% isn't a large premium which suggests AP4 apartments can't be better in quality/position etc than AP1 otherwise the developer would charge a greater premium...
- The developer needs to sell apartments as quickly as possible to create cash flow for the ongoing development project. So why would he sell an inferior 'parcelle' first and risk not selling them all and raising maximum cash?
- I was told that the AP1 apartment I had been allocated was in the best block of the development because it was overlooking the pool and had sea views from the 1st floor. If AP4 is better than AP1 then someone was telling me porky pies before...
Like I say, I seriously hope AP4 is as good as AP1, my heart wishes it to be so, but my head tells me it won't. Monday isn't far away so we'll find out soon....