Costa del Sol – too good an opportunity to miss
Published Date:
25 July 2008
YOU will undoubtedly be aware of the downturn in the Costa del Sol property market and heard 'sob stories' about those unable to sell investment properties, with all the associated financial problems. But have you considered taking advantage of what is truly a buyers' market?
It is a fact that there has been massive and ongoing building in the area, which has resulted in a glut of property, much of which is of inferior quality, has poor amenities or is in the wrong location and therefore difficult to sell on.
Spain, however, is a classic example of a mature and sophisticated market, which has undergone a period of cyclical consolidation. Now there are significant signs of a recovery which, if previous history is followed, will grow steadily, particularly in the demand for quality properties in the right location, of which there a substantial number.
Such properties now represent excellent investment 'bargains', some available at up to 90% below valuation! Through our local partner company, we know where most of the 'golden nuggets' are!
Spain is still the top destination for British holidaymakers and those wanting to relocate. Visitor numbers are up by almost 4% on last year, with the majority looking for luxury accommodation, opening potential revenue opportunities for property investors. Spain is actually Britons' most popular foreign investment country.
The increasing demand for accommodation is great news for those renting out holiday homes or considering investing in Spanish property, as it will inevitably push up prices.
Mark Stuckling, writing in The Times, said: "Spain remains one of the most attractive countries in the world and there is certainly no shortage of Britons who would like to own a home there, circumstances permitting.
"Quality, attractive developments in desirable spots offer the best investments, as they consolidate their position in the downturn. With buyers becoming choosier and more discerning, those types of property will emerge all the stronger when the market picks up in a few years' time."
Working in the context of the essential support network provided by our Spanish property partner, Independence Properties currently has access to a quality selection of bank repossession properties. Because they have not sold at auction, these are available for quick completion to cash buyers at between 40% and 90% below market valuation.
Recently 50 such properties sold in less than three hours, including a six bedroom villa in Marbella, valued at €7.4m, selling for €767,000 and an apartment in Mijas, valued at €240,000 which was snapped up for €90,940!
If you have cash available, now is the time to buy. If, however, you are looking for finance, Independence Properties will help you raise it, either to buy now or refinance after purchase.
For a cash buyer, it doesn't get much better!
lIf you want to take advantage of this opportunity to realize your investment dreams please contact Independence Properties o n 0845 225 3848 or visit www.independenceproperties.co.uk
The full article contains 500 words and appears in Sheffield Telegraph newspaper.
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Last Updated:
25 July 2008 6:44 AM
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Source:
Sheffield Telegraph
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Location:
SHEFFIELD, SOUTH YORKSHIRE