palmela village

[sparkey]

street cam

Hi all, i see google earth street cam has arrived in portugal. Part of the road around palmela village is featured. P.V. dosen't look too bad through the fence. A lot of work is being done outside the complex (sewage pipes and road work) etc.
Have a look yourselves.

Cheers Spark

 

[deek]

Palmela, palmela!

Thanks Sparkey...will take a look!
Waiting to hear back from 2 apartments who are out there at mo...will update when i hear.

 

[Blenks]

We are buyers of a semi detached villa on the development. We paid 50% over in April 2005 for a property due for completion in April 2007. Despite continuing extended deadlines, we visited the property in November 2008 only to find the property far from complete. We are now suing the builder, Pelicano, for non delivery of the property and the court case is due to be heard on 23 / 24 November 2009. The contract allows for a completion not later than April 2007, else the affected party can claim from the other double the contract value. Will keep the forum posted.

 

[ggc]

Really hope all goes well for you. Did you buy directly from Pelicano?

 

[deek]

Blenks

Good lord Blenks, that sounds stressful.
I knew the semi-detached were behind schedule but didn't realise that far. The golf course is now open and bar, restaurant and club house so things have definetly improve out there. We are hoping to go out again next april or may again as we really did enjoy it out there once we adjusted to the surrounding areas!!!!
Do keep us updated.

 

[Blenks]

Thanks for the supportive and positive responses. We bought via Parador, who have since ceased trading. However, our grievance is not with them but with the developer, Pelicano. Our contract is with them and is quite clear in its obligations placed on the buyer and seller.

The property was simply due to be delivered by April 2007. It wasnt. We visited the site in November 2008. A list as long as my arm of problems and unfinished work, all in contravention of the schedule of works, fittings and fixtures left us with little alternative but to bring court action.

If we had not completed the purchase by April 2007, then I am sure they would have taken a similar action against us.

We would have accepted the return of our deposit, some 122000euro, in November 2008 if Pelicano had acknowledged their errors and accepted non-delivery in contravention of the contract, but they refused to accept and into court we go.

 

[Ian Cranswick]

Hi

I've just joined this site and as yet still unsure how to navigate properly. We are in the process of buying 2x apartments on this development and are due to complete mid next year. We will be travelling out hopefully mid November and will update on our return. I have received this correspondence today (09.10.09):

Below is a section of an email from one of our clients lawyers, this is the last update we had.



“ I was in a meeting with Pelicano (The Developer) and was informed that the construction should be finished on the end of September, beginning of October and that they should start making the deeds on December or beginning 2010 (the time frame I expect for the issuing of the habitation license). Please tell the client that completion should be on the end of December2009 or beginning of 2010”

I hope this is of some use to people out there.

I would be grateful for any communication on Palmela this is our first venture into the foreign property market. Daunting to say the least but our journey hasn't been helped by *** the company we bought through.

Anyway hopefully I'll hear some good news from others soon.

Regards

Ian

 

[Lysos]

Ian, commiserations; you are one of many 'victims' of *** worldwide. I know this is of little comfort, but your situation reinforces two basic tenets of investing anywhere, in anything, not just property. Firstly, do in depth research on any company you are thinking of dealing with, and never, to use the old, but trusted cliche, put all your eggs in one basket. Did you get the standard *** sales pitch - buy two, flip one and earn a steady income off the other ?. Not that simple, in reality. The chances are a holiday property (i.e. one dependent on multiple short term seasonal lets) will only ever wash it's face at best.

My partner has a rustic detached villa in the eastern Algarve. By the end of this month it will have been let for 26 weeks this year (we only use it off season, to maximise rental returns; remember, if you use your property in peak season you are effectively paying the going rate.)
Sounds good, but even on a low (60%) mortgage it only breaks even, with interest payments, maintenance, insurance, utility bills, cleaning, agents costs, taxes etc.

Just my opinion but overseas property - outside of connurbation long term let areas - is not an investment, but a luxury, as many people are beginning, belatedly to realise.

 

[Ian Cranswick]

Hi,

I'm sure we have made some mistakes but we did receive a substantial discount when purchasing two properties. We didn't complete until we had returned home and contemplated what was on offer it was then we negotiated the discount. The deal also includes maintenance utilities, cleaning etc for a period of 3 years. Although I have re-checked the contracts!

The development of tourism safety net, in hindsight is a regret but I guess we learn by our mistakes I'm just thankful we're not reliant on a mortgage.

Thanks for the response

Ian

 

[DRM]

Late Payment

Hi,
I am having the same issue GGC - the 2nd payment has not appeared and is late - can you PM me so I can ask a little more ?

Does anyone else have the same issue ? It will probably come in soon but I am still a little jumpy as it's so early in the contract......

I presume *** is the same company I used for my purchase - although I have to say the salesman was great and helped with any issues I had with other parts of the organisation.

D.

 

[ggc]

Hi DRM, I tried to PM you but I wasn't allowed. The error message said you had chosen not to recieve private messages or you may not have permission.

Apparently the rental was supposed to be transferred last Friday.

 

[deek]

Payment

We have recieved our payments to date but when we visited in June we met a few families who had recieved nothing at all, whilst others like us had gotten their payments on a 3 monthly basis. It is a bit worrying. You should email the sales and administration office directly on site.

 

[DRM]

Payments

Thanks GGC and DEEK - I will call the finance office as I now have their number and keep you updated, I will also try to resolve the profile issue (not sure how yet as I'm new here)...

I'm pleased I have found others who have property over there as it's always good to be in contact with interested parties just to keep up to date with things and share news/info.

 

[skidandelmo]

Hello All, we are new to the website; we have paid deposits on two Townhouse Apartments in Palmela Village and they are due for completion Spring 2010, we visited the site last year and are hoping to go back in January next year before they are finished, has anybody been out recently or due to go out as we are interested in what the progress is at the moment,
Thank you

 

[DRM]

Payments

Update: I have received payment which has made me more relaxed, I believe someone else received late as well but if it's coming in then I'm happy.

Glad to hear the Golf course is now open as it was 'almost ready' when I last visited. I would be interested in knowing how good the course is and if it was receiving many visitors....?

I purchased with a view that the property would increase in value and hoped rent would cover the cost (not for regular income) but presume the Appt's have now dropped due to the market..... property always bounces back in time so I'm not concerned if they have.

I guess the value will depend on the success of the complex which I feel is a good investment especially as I read the following 'most of it is villas alot of which have been bought by private Potuguese families so they are living on site all the time '. If this is true then there are a lot of people locally with an interest ensuring it is kept well.

Will be keeping an eye on this thread now I have found it

ciao.

 

[sparkey]

i think they are selling town house apartments for £10,000 more than they were in 2007. Not much of an increase over nearly 3 years, but i suppose not too bad considering the recession we have just come through.

 

[deek]

Drm

Hi DRM,
We also feel that in will hopefully be a good investment. I am in regulart contact with a lady on site who we befriended so she is keeping me updated somewhat. She feels the crowd running the pool bar aren't as good as they could be but that the golf course and club house are successful. I will be emailing her during the week again and will find out more about numbers playing golf etc.
I originally posted re the locals living on site etc and they actually own a large proportion of the villas which we also feel is good security.
The sales off was constantly busy when we were there and they are still selling both villas and semi d apartments which look impressive off plan etc.
The planned development of the airport south of the lisbon will also be a big plus.

 

[Anti-Palmela Village]

Dear All

I've just join this forum, to alert all the people that have purchase any real estate, apartments or villas in Palmela Village. I've bougth one villa there and I had to figth in court very hard (we went until the supreme court) against Pelicano to have my situation solved. The same happen with 4 other people that I know (familly and friends). The quality of the constrution it's horrible, they don't respect the agreed finishing times (in some cases they are late mor ethan 2 years) and in some cases they sell the same property to two different people. There was also 15 villas that weren't built (even if paid for, by the unfortunate buyers). They have another resort near Coimbra that they abandoned even before they started building the first house. So my advise is start looking upon you interests and don't beleive in anything Pelicano says to you. Best of luck for you all.

 

[deek]

anti palmela village

That certainly doesn't sound positive 'Anti-Palmela Village'!
Did you get all your money back or do you still own the villa?

 

[sparkey]

From what i hear they changed the builder for the second phase of villas and apartments to lena construction, who seem quite capable.
As regards the other things, they said our town-house apartment would be ready for May 09 and i am still not sure if they have even started. They could certainly be more mannerly in keeping people up to date with progress.