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Property Porto Antigo Terrace apartments

Built without proper legal permits- Santa Maria, Sal

An Italian development of cramped, airless flats built right onto the former tuna harbour. It was conceived by Gianni Mariani a developer from Brescia, who acquired a wonderful site for around one million euros. together with several Italian collaborators. Originally proposed for completion in two years, it has in fact taken five, but was largely completed by 2011.

Condominium fees are much higher than at other developments and there has been much change amongst the group of Italian investors that manage the site. The New Guard have displaced the Old Gaurd, without bloodshed but not necessarily amicably.t

Lawyers report that there are no escrituras for these buildings

It appears that the developers have not obtained all the correct paperwork nor registered the buildings with the Land Register. This will make them hard to resell.

T from Berkshire had a disappointment.

"Had a complete nightmare today. Had a call from the director of Porto Antico saying that my house (which I was buying direct from them) is actually a resale property. The guy who was selling it again had also marketed through another agency and sold it again! He is now going ahead with them. Long and short of it is that I have paid half the amount for the property and I have no hold over it now. They have offered me a couple of alternatives but obviously not in the spot I wanted. As you can imagine absolutely gutted at the moment so will be considering my options over the weekend. Not out of the question yet that I might go for another on the site but it is the point of it. I had no idea it was a resale property so obviously I'm completely shocked."

G from Birmingham has bought there despite the price.

"We know it`s more expensive but it comes fully furnished and with a building management contract. We bought for the rental potential and the fact that it is so near the sea."
D from Dublin has bought there and ran Papaya`s here for a while.,
"We paid €135,000 for a corner apartment with two bedrooms. We thought that we were buying from the original developer. We were disconcerted to discover that another Italian could have sold us the same propery for €95,000."

R from Surrey found the speculators had beaten him to it

"The prices have certainly rocketed. I went to see one apartment, I think it is Porto Antigua which has a good location but the apartment with two bedrooms (very small) and a mezzanine which one can hardly stand up in was selling for €250,000 . A Studio at the same place was €110,000. I just don't think (and I may be proven wrong) that it is value for money. If people buy off plan (and everyone staying at the hotel that we spoke to were there to buy) and then try to make a profit by reselling which is what a lot of them are doing then the prices are just going to go up further. I don't think it can last. Lucky the people who got in first."

S from Birmingham thinks that they are too small

“Check out the size of the apartment first. They tend to be small -.maybe OK for renting but expensive to buy, but they are not really beachfront; the small, slightly grubby cove-like beach is nothing like the rest of Santa Maria further to the West. You could be overlooking the pool -.convenient but less privacy, but wherever you are on Porto Antigo it is not too far to go, either to the pool, their small 'beach' or the main beach areas of Santa Maria. I would look around at other options first before committing yourself, maybe one of the hotels further West with hut-like accommodation, all virtually on the beach.”

S from Manchester liked the changes since it has been built.

"Had a wonderful time, weather was perfect, only saw clouds one day, but still warm enough for swimming in the pool and sea. Baby E had a ball, even the flights didn't faze him, he loved it all. Place was a lot busier than a year ago, lot of building work going on, esp behind the Belorizonte and was surprised to see how far Villa Verde had sprung up. Everything seems to have improved no end, new taxis instead of the old bangers, tours, just a lot going on. Both K and myself were very pleased with our apartment on Porto Antigo( buying off plan couldn't appreciate the position) . The solicitor you reccomended is a real nice bloke and has had dealings with Porto Antigo before, so very pleased with your reccomendation. "

G from Yorks has encountered legal problems

"When our solicitor contacted Porto Antigo he was told should be ready mid Feb, but all along we realized this to be optimistic. I think maybe there is some confusion between actually getting the keys,thereby being able to use it/let it. and getting the Escritura. On Porto Antigo 1 people were renting their apartments for a couple of years. The delay in the Escritura for them we understood was due to this Horizontal thing, which he hoped would be all sorted on Porto Antigo2. We have been holding off on arranging another trip on the expectation of being able to have the keys either later this month or early next. All payments have been made bar the final one due when we go to notary. With regard to renting, we haven't finally decided but would prefer to rent to people we know or have met."

S from Birmingham has also met a blockage.

"It all looks pretty much the same as when we were last there in December. the last I heard was that the furniture package was the only hold up as all the furniture came from Portugal.They led me to believe that the apartments would be finished in Feb, the pool and gardens in March and "bits and bobs" in April. My solicitor thinks it could be as late as the end of the year before we can stay in or lett our apartment. A licence of "habitalisation" has to be granted after the building is complete and this can take 6 months. there is also the matter of "Horizontal something" where they get permission to change the building which is currently one development into lots of small apartments.

S from Lancs has bought in Phase 111 to the East of the harbour without concern about the lack of escritura.

"It is all complete as of January 2009, apart from connecting of utility supplies, such as electricity as far as I could see. It looks like a very good development in a great location. "