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Nondas up for sale

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abbo:
I see on RightMove that Nondas 12 apartments et al are up for sale at €450,000. So you'd reckon €400,000 would seal a deal.

http://www.rightmove.co.uk/overseas-property/property-46520959.html

Cracking opportunity if you ask me.

Thoughts?

rilo57:
  Sounds ok till you do a bit of a rough calculation.If every room was full with maximum occupancy for the whole holiday period it would generate approx €74.000 . Divide that into say €400.000 it would be at least 5 years to recoup the money.thats without any other costs and not taking a wage....leave well alone...

abbo:
Yeah fair point that. Mind you,I havent got €40 let alone €400k  8)

cambridge:
I remember looking at this a while ago, in that day dreaming sort of way, where you only consider the upsides, and none of the downs. It's been on the market for some time now, and with the current strength of sterling, it does look like quite good value. However, it will take proper hard work and dedication to make it pay well, and when I'm in the village I do become a little lazy. Not for me. I do miss Elpitha though, at the time it was probably my favourite eatery in the village.

rilo57:
 I only ever got there once to eat ( well tried to eat) was always popular and reservation was needed.We finally got sorted one evening and we had a table for 6.we o nly got as far as drinks and that was it..after a bout an hour of waiting and asking for our order to be taken we gave up and went to the old faithfull Nafsica...Think thats my first and only problem in San Stef in 25 years...

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