The Property Association

[harrisonstone]

Did anyone buy there apartment via The Property Association? I am interested to know if anyone has questioned the price we paid way back in 2004. I paid 90k ? for a 1 bed which was supposed to have had a discount too & yet I had a survey done in november 2006 from Pireaus Bank which valued it at 91K ?. I have also been advised that the development has seen a 13% increase. Any thoughts

[vstride]

Hi I also bought my 2 bedroom apt on Marina through the property association. I paid 107, 000 for it back in 2004/2005 not sure what the value is now as no one has looked at it. There are other apartments similar to mine up for considerably more. Not sure if the banks valuation is a lot lower than an estate agents.

[harrisonstone]

Hi, thanks for the e-mail.
My survey for Pireaus was at 91k Euros but the valuation was 114000 euros, its a 1 bed.
There certainly does not seem to be a great deal of interest in buying there as a resale with so much else around. I have just increased the mortgage term to 22 years which helps on the payments as we have only been estimated 3000 euros rental per year. Re-mortgaging is sometimes cheaper with a Bg lender than the initial loan.
Contact me if you want some figures
thanks
Adam