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Discussion Starter · #1 ·
Hi there. Hope this is ok to post/ask?

We are thinking of purchasing an apartment off plan close to Malaga. My son who is already based in Malaga with an airline will be using it as a base so it also needs to be close to the airport. Following a visit to A Place in The Sun exhibition in London, we were directed to a new development in Benalmadena. The development is still a building site and although the agent assured us that our money will only be released and held securely until completion, I still feel a bit twitchy as it's an overseas purchase. The company is called Kronos and apparently they work in partnership with Sabadell Bank should we require a mortgage so that kind of suggests some sort of respectability.

We went to have a look at the area last week and are happy about its position but there didn't seem to be a lot of building activity - maybe because it's August?

I've googled Kronos Developments and haven't found anything untoward but I just wondered if anyone had had any experience or dealing with them?

Many thanks. 馃槉
 

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I go to a restaurant and order a meal on trust. I may not know the proficiency of the chef or quality of the ingredients. At most I may be risking 100 euros. I'll get over it.

I've bought properties in the UK and abroad. I've seen them first, inspected them.
After all, I'm risking 000000s euros.

Just my view.:)
 

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Hola

Back in the "good old days", you could put 10% down on a new build and then, when the next call for money came along, you could sell your right and double your money.

In this day and age, many of these off-plan builds may not happen; whilst it shouldn't be a problem to get your money back, if you research for long enough, you will find the Supreme Court in Madrid has ordered banks to repay loads of money in similar schemes - people have been waiting for up to ten years !!!

Unless the new build has something that really is a show stopper that you can't find elsewhere, in this buyers market - I'd suggest you could find "the villa of your dreams" elsewhere

Davexf
 

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Discussion Starter · #5 ·
Thank you very much for your replies. I appreciate you taking the time. I think you've all confirmed my instincts - many, many thanks.
 
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