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The boom continues
Due to the large number of buyers, both Spanish and foreign,
the real estate market in the Costa del Sol is selling well.
Although prices have levelled off a little through 2004 today's levels are
still looking cheap in relation to other parts of Europe,
particularly the UK. There is no doubt that property in this area
is going remain and excellent investment for the foreseeable
future.
Buying "off the
plan"
There
are various ways obtain a high return on your investment. The
popular way is to buy "off the plan". For this to be successful
the development has to be in a prime location and promoted
by a reputable developer.
The procedure
Firstly
you can start the process by reserving a property with an initial
payment of 20-30% and then while construction continues the resale
value will increase.
By now
most, if not all the new properties in the development will
probably have been sold and at any time you can re-sell your
option to buy at a profit.
Alternatively continue to make the necessary stage payments and
sell even closer to the completion date for an even higher price.
Selling the option to buy before completion realizes a significant
profit and return on your initial investment.
30%-100% in
twelve months?
For serious investors who are not just looking for
a home in the sun, the Costa del Sol has proved to be one of the
most lucrative property investment markets in the world,
particularly in the last 5 years.
Many investors,
private and professional, have made gains of between 30% -100%
within 12 months on money invested.
Buying new property
anywhere, before or during construction, and then reselling it as
it nears completion has nearly always been a good investment.
There are always
buyers who will pay more for a finished or nearly finished
property than they would for a property 'off plan' or a green
field site with a completion date 1-2 years away.
Careful
selection of your investment property
If
you are interested in buying property for investment, or as a
home, our associates have unrivalled knowledge of what is
available right now. We will discuss your requirements and give
sound advice on what type of property would suit your purpose.
Matching the
property to suit investment criteria
If the property is to be
purchased as an investment, and for rental, we will be able to
advise on location and what rental income might be achievable. We
would also be able to advise on annual running costs, and tax
liabilities.
If the property is to be
purchased "off plan" we can advise on which developments are
liable to produce the best short term profit and the most
efficient tax planning for the investment.
Inspection visit
We can arrange an inspection
visit to view selected properties. Our associates will be on hand
to offer unbiased advice and to guide you through the visit and
help with the complexities of purchase and the tax implications
arising.
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