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Estate Agents Costa del Sol and
Costa Blanca
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Costa del Sol
Apartments From 121,000
euros
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Costa Blanca
Apartments From 105,000
euros
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Costa del Sol
Villas from
289,000 euros
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Costa Blanca
Villas from
220,000 euros
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Just
fill in the Property
Finder Form and
we will email you a selection of
properties that fit your budget
Buying
“Off Plan” property on the Costa del
Sol
Property on the Costa del Sol can be a great investment with
outstanding returns in a considerably
short period of time.
Purchasing
a property 'Off Plan' does not means
just reserving a property on a new
development before the property is
completed or even in some cases before
construction has started. It means that
the buyer becomes the actual owner of a
future property by investing
approximately only 30% of the property
value at the present time. It has been
seen that this value may increase at
least a 25% by the time the development
is completed, thus becoming a much
better investment than dealing with an
already finished property.
On
the other hand, if you are not looking
for a property as an investment but
rather as a holiday or permanent home an
“Off Plan” property has its
advantages as well:
Firstly,
when a new development is released the
prices are generally much more
competitive than market prices, as the
developer are very keen to sell as soon
as possible, in order to obtain better
interest rates from banks for their
development loans.
Secondly,
when people begin buying from a
development, usually the best properties
are sold first, i.e. penthouses or
corner units, these are the ones that
increase their value much more.
Finally,
when final completion is achieved, you
will be the owner of a brand new
property.
Obviously
there are some issues regarding buying a
property “Off Plan”. It is possible
for up to a two year construction period
can elapse before the completion of your
property, also the intangible aspect of
the investment, as you will only see
your future property through Architect
drawings and plans.
The
government enacted a law whereby, all
down payments made before the completion
of the property/development have to be
secured either by bank guarantees or
insurance policies. It is important to
check with your solicitor to ensure that
these assurances have been provided for.
Developers are restricted by several
laws; what, when and how the offer of
their product is conveyed to the
prospective purchaser.
In
order to purchase property in Spain you
will need:
To
open a Spanish bank account (compulsory
when purchasing property in Spain)
Instruct a lawyer to conduct the
purchase on you behalf prior verifying
all building licenses and contracts.
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