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Edificio Segura in Dolores overview

We are no longer marketing this development. Please refer to our Investment Properties page to view our current investment property opportunities.

Video Presentation
An audio visual presentation is available in either Windows Media or Real Player please click on the icon to select, or choose the help button for more information on how to view. NB: Real Player produces better quality images.

1 - The Segura building showhouse and site     

2 - Dolores town and the Dolores Sur Project     

3 - Guardamar beach from Dolores report     

General description
Edificio Segura consists of 71 apartments over 3 floors situated on the edge of the town centre, on the perimeter of the planned future expansion of the town to be known as Dolores Sur. There are one, two and three bedroom apartments available, the majority of which offer good size accommodation suitable for full time residence as well as holiday home use. All of the apartments have larger than average terraces complete with balustrades on the balconies.

There is a communal swimming pool on the roof which will afford fantastic views over the town and the mountains in the distance and the 3rd floor apartments will all have independent, spacious roof top solariums.

The communal entrance to the building will be finished in marble and the quality of specification continues with the individual apartments containing features such as oak interior carpentry, built in wardrobes in the bedrooms, fitted kitchen to include granite work surface, hob, oven and extractor.

Where is Dolores and why should I buy property there?

Dolores is only 5 minutes drive away from the neighbouring town of better known Almoradi, just inland on the Costa Blanca coast and only 15 minutes from the beach resort of Guardamar with miles of clean fine sand to enjoy.

Historically Almoradi was always the most important market town within this area and with the proliferation of new apartments and properties aimed primarily at the holiday and foreign sectors, Almoradi has seen massive growth and will to continue expand into the foreseeable future.

It would not be unreasonable for the residents and town council of Dolores to want to be a part of this expansion and they have been planning their own local development on a very ambitious scale covering some 1.5 million square metres of land.

This primary development is called Dolores Sur. Currently the council is working on this expansive site some two times the current area that the town utilizes, installing the infrastructure prior to general licences for individual projects.

The Dolores council have further plans for a golf course which is in the final stages, incorporating further residential construction projects situated around the greens.

The people of Dolores want their town to be the touristic hub for the area in the future and not just another suburb around Almoradi, so it makes perfect sense to invest now as the town is just starting to expand with very low prices compared to other areas.

Prices and floor plans
From €95,925 for 1 bedroom
From €104,925 for 2 bedroom
From €117,300 for 3 bedroom
We have a complete price list and floor plan available just click here
If you require individual apartment plans for the building please just ask and we will email them to you by return.

Investment required
ground floor 2 bedroom, 2 bathroom @ €104,925 40% plus 7% sales tax =€44,907 (inc tax)

Building specifications
For specifications in English just click here!

Developer
The Company has been operating for over 10 years locally and has a superb track record and reputation for quality. Their range of products consists of apartments and townhouses through to exclusive villas and more recently a state of the art shopping centre. A show flat is available on this particular development for which we have supplied video footage.

Release date
July 2005

Predicted completion date
Infrastructure June/July construction starts September and completion September 2006

Our opinion
The key to this particular developments investment potential is very much centred around the future, planned expansion of the town.

The apartments are situated directly across the road from the Dolores Sur residential development site where all of the future expansion of the town will take place. The work on Dolores Sur will last for quite some years to come and this regeneration and modernising of the town will have a very positive effect on property prices and many of the new developments in this new residential part of town will have this growth factored marginally into their prices.

This is not the case with Edificio Segura, which is still priced within the “Old Dolores” price structure and therein lays the opportunity. The apartments will be ready in a little over a year, by which time work will be underway on Dolores Sur and the property price index in the town will be rising. A further two years and many of the new developments will be ready to complete which will see further growth in prices, not just for the new developments but also any property bordering Dolores Sur.

Additionally, the town perfectly matches the trend for growth from towns situated 10 to 15 minutes inland from the coast – just far enough away to enjoy real Spain yet close enough to benefit from the facilities on offer.

Further information
If you would like any further information please ask and we will send it through by return. Please click here!

Location profile for Dolores in the Southern Costa Blanca area
Dolores is very typical of a Spanish agricultural town situated 10 – 15 minutes inland from the coast. As with many of these towns however, coastal prices and congestion are feeding the trend of foreign buyers searching not just for the real Spanish experience but also more affordable prices. Many examples of recent progress and investment are now evident signifying the town’s change of identity from sleepy rural town to a modern prospering town.

In addition to this general trend, the local authorities have started to implement a highly ambitious project known as Dolores Sur literally on the edge of Edificio Segura. Dolores Sur alone will be approximately twice the size of the existing town and will comprise of modern residential areas, commercial premises, lots of parks and open green spaces and a proposed golf course. This modernisation and expansion will certainly supplement the existing growth in the town and we are very confident about the growth in property values within the next several years as the local government is encouraging all its town halls to only grant planning permission to low rise developments to prevent the area from becoming a concrete jungle.

The region boasts over 320 days of sunshine per year which indicates that there is excellent opportunity for all year round rentals. As annual yields are between 6-8% combining holiday rentals and long term lets, properties can be self financing.

Dolores offers something for part-time residents, retirees as well as holidaymakers, providing all year round rental opportunities, with the warm climate, the close proximity to Guardamar beach, the numerous golf courses, diverse local attractions and the continuing overall development of the town.

Financial example based on a 2 bedroom property and 40% deposit
Cost price 2 bed, 2 bath €104,925 + €7345 sales tax = €112,270
Deposit including 7% sales tax = €44,907
Estimated mortgage payment for the balance at end of construction €331 p/m (25 year term repayment @ 3.25%)
Estimated gross annual long term rental €5,000 (based on 10 months occupancy)
NB. It is not possible to calculate the holiday rental value as there are no similar properties in the vicinity which is an additional point in its favour. The holiday rental market is very immature in Dolores at present. However during the build period and the next 2 years we are confident that the market will have matured sufficiently to make the proposition viable especially with the general trend for holiday makers to look inland and the expansion of the golf holiday market.

Airport
Alicante airport is approximately 30 minutes by car and San Javier (Murcia Airport) is 30-40 minutes by car. A new airport is being constructed for Murcia at Corvera to cater for the increase in air traffic. Ryan Air can also see that this area is taking off providing competitively priced flights into San Javier airport to make visiting your property extremely cheap and convenient.

Road Link
A-7 Motorway provides direct link to outskirts of the town or the National N332 coastal road.

Views
Although the apartments are in the new residential area of the town, there will be open views towards the mountains in the distance from the communal roof terrace area.

Beach
Guardamar del Segura is superb, unspoilt, quiet and very clean just 15 minutes away by car or regular bus service.

Golf Course
As mentioned above, the Town Hall has included a proposed new golf course within the town plan.

Finca Park Golf, the most exclusive golf course in the area is 5 minutes by car (4.5km). This course is already being hailed as a superb course rivalling anything that the Costa del Sol has to offer. In a beautiful natural setting this is a fairly long course with established trees and lakes coming into play on many of the holes. La Marquesa is also a quality course within 10 minutes and Villamartin, a championship course and previous host to the Mediterranean Open is within a 20 minute drive.

What happens at the end of the build period
When the project is completed and ready to occupy the property can be sold or mortgaged. A pre arranged mortgage is available or we can provide alternative financing currently up to 80% of a bank valuation.
NB. This will be considerably more than the purchase price at the time of completion and it should be possible to recoup the original deposit to reinvest in another project or development.

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