Medina Elvira in Granada

Discussion in 'Spanish property' started by Propertyinvestor, Mar 24, 2007.

  1. Propertyinvestor

    Propertyinvestor New Member


    I wonder if anyone can help. I am looking at buying an apartment offplan at the Medina Elvira project in Granada through a company called International Property World in Spain. I have been given a number of options (Golf residencial, Granada Greens and Tee 17) and have been advised that I can have a 5% guaranteed rental for 10 years. The prices seem good and the company seem legitimate. Just wondered if anyone had bought through this company or on this project?


  2. Peter Mitry

    Peter Mitry <B>Egypt Forum Founder Member</B>

    If anyone is considering buying off plan in the Medina Elvira complex in Granada I can recommend it; I have personally bought three units in the first project Medina Elvira 23 and achieved more than 100% ROI on each.

    I can also offer a selection of great Resales in this project which will be ready for occupation in December this year; there is still the opportunity to put these units into the rental guarantee scheme and get a 5% return for up to 10 years. Resales are brand new apartments from investor clients at prices up to 40,000€ below the Developers current price for similar units.

    We have 2 bed/2 bath apartments available from 260,000€ so please contact me if this could be of interest...
    Medina Elvira Golf & Country Club - Andalucia, Spain

    Peter Mitry
  3. Propertyinvestor

    Propertyinvestor New Member

    Thanks Peter. I am quite happy with the work International Property World have done and have now reserved 3 properties with them and I am viewing the place with them next week. They are picking me up at my hotel and driving me to Granada and then taking me back to the airport which I think is a wonderful service.
  4. DC

    DC Member


    Non Residents pay 25% income tax. so please be aware.

    50% rental return is 37.5% return if taxed.
  5. Propertyinvestor

    Propertyinvestor New Member

    Thanks for the advice, however IPW were excellent in advising me of all costs involved. They sent me a 12 year cash projection outlineing all costs including tax etc for both the guaranteed and variable rental contracts and were very honest in their advice. I dealt with the manager there and she was excellent and not pushy at all. She actually refused to take my deposit until I was furnished with all the details which I thought was excellent. I am now looking at a number of other opportunities with her as well. I recommend IPW to any other investors on this site that might be looking for a good honest company to work with.
  6. greg

    greg New Member

    "5% guaranteed rental for 10 years" Curious about this...

    How does that work? What are they offering?
  7. DC

    DC Member

    Who do you work for LisaNic? What is the name of your company?
  8. George

    George New Member

    Buying From Developer In Medina Elvira

    I bought a couple of apartments directly from the developer in medina Elvira called suites if you buy from them you get for free a family golf membership for 99 years that normally cost 12.000 euro if you buy it loose, medina Elvira is really great the golf course is already finished I bought it from grupo balboa Hope to give you guys some good advices

    Hope to see you guys soon to play golf,
  9. Mike & Pat

    Mike & Pat New Member

    We have a 4-bed penthouse on the top tier of Fairways and a 4-bed penthouse on the top tier of Golf with spectacular views over the golf course as well as the Sierra Nevada mountains in the opposite direction. They both have terraces of over 100m2. You can't buy these off the developer anymore. We also have 2-bed and 4-bed apartments on one of the best sections of Fairways. We are looking to sell a couple of these apartments at below the developers price for a quick sale as we need to release some cash. Does anyone know of anyone who may be interested in any of these apartments, including the penthouses?
  10. chirimoya

    chirimoya New Member

    Medina Elvira


    If I were to invest in a golf resort in Granada, I'd go to Los Moriscos Golf II in Motril. Los Moriscos Golf I was completely sold out, and Motril is clearly expanding but still relatively unspoilt. With Sierra Nevada less than an hour away and an ever-improving short drive to Granada, you've got the beach as well. More and more foreigners are coming to this area. Though maybe not too interesting for immediate resale -the cheapest apartment costs 270,000 Euros, but you get value for money in an area which is now setting off with quality tourism-, it's a great BTL opportunity, I think.
  11. andy - a2zspain

    andy - a2zspain New Member

    I disagree with the last poster. Motril is dead for several months of the year and although the projects around the golf are attractive, the course is not. This is really a Spanish only area and they tend to concentrate vacations in the 3 months around summer. There is nothing else there with exception to the golf and it's a long way from any airports and there is a big chunk of motorway missing en-route.

    If you really want affordable from line golf close to the beach look further up the coast towards Almerimar, Roquetas de Mar and the new resort at Retamar called El Toyo. All are in Almeria Province, less than 30 minutes from Almeria Airport which is currently serviced better than Granada. All have a better hotel and tourism infrastructure which contributed to year round trade.
  12. andy - a2zspain

    andy - a2zspain New Member

    Please email me with details. I need property to market close to Retamar, Cabo de Gata.

    [email protected]

  13. monicacrossan

    monicacrossan New Member

    hi mike and pat

    just wondering if you still have properties in medina fairways 2 bed for sale as we would be interested and what price?
  14. Mike & Pat

    Mike & Pat New Member

    Hi Monica,

    Yes we do. I'll give you our email details and phone number on your Private Message Board so you can contact us.
    Regards, Mike & Pat
  15. chirimoya

    chirimoya New Member

    How do you mean "Motril is dead"? What makes Motril so attractive is that it's a real town all year round, not the typical place waiting for tourists from abroad to offer them gallons of beer. If you're interested in coming here from Britain to be surrounded by Brits in a British pub reading the British press, then this obviously isn't the place for you. But if you're looking for an unexploited place, then Motril is a good option. And by unexploited I mean uninvaded, not deserted. This is twenty-first century Spain, not Biafra.
  16. andy - a2zspain

    andy - a2zspain New Member

    Sorry chiri. I should have been more specific. The area around the golf 'Playa Granada' is deserted. The town it's self I agree is a vibrant busy attractive coastal town, but the thread was discussing golf investment property. I personally live in Almeria city for the reasons you give that Motril is attractive. Not an 'English Bar' in sight. I think many buyers and investors are looking for areas away from the traditional expat ghettos, and the coastline from the Costa Tropical of Granada and the Almeria coast north up to but not as far as Mojacar offer the buyer and holiday maker a taste of real Spain - for the moment.
  17. Peter Mitry

    Peter Mitry <B>Egypt Forum Founder Member</B>

    Hi Monicacrossan
    I have several properties in Medina Fairways available as resales, both two & three bed apartments & penthouses. My company sold 140 units in Medina Elvira to our investor clients and some now want to sell. Tell me what you are looking for and I am sure that I will have it. Prices are generally well below new properties elsewhere in the project.
  18. chirimoya

    chirimoya New Member

    You're right, Andy. Playa Granada IS STILL deserted. If you've run out of milk, you have to take the car. But Motril is only five minutes away by car, and within three years you won't be able to recognize Playa Granada. There will be a shopping centre, more golf courses, hotels, an investigation centre from the university of Granada, schools,etc etc etc. But please, nobody panic, this will never look like the Costa Brava. I think that all new projects are defined by good taste, and the place will never be "packed" either.
  19. monicacrossan

    monicacrossan New Member

    hi peter

    we are looking at the 2 bed apts. in fairways or granada green at present.
    it may be out of us price bracket having the come up with 10% and another 1 yr later. we may have come in too late on this scheme. let me know anyway thanks.
  20. Anthony

    Anthony New Member


    You are right that you need to consider tax
    You should be aware though that the CGT laws chaged in Spain at the beginning of 2007. CGT for non-residebnce is now just 18%

    SPC Overseas

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