Buying off-plan property means purchasing property – typically an apartment or villa – in advance of its completion.
Off-plan property is typically sold prior to construction beginning at a significant discount (between 15% to 40%), often with a small deposit requirement (around € 6.000).
Things are now back on the up in the Spanish market, with great bargains and high rental yields on offer to savvy buyers looking for a place in the sun.
Spain is one of the most popular holiday destinations for people around the globe. It has a particular fascination for other Europeans, in particular the French and the English. It is not difficult to work out why so many people choose to flock there every year. Gorgeous sun, glorious little towns and famously beautiful people make it a hot destination for just about anyone. But in terms of property investment, you can’t really say much fairer. Known for many years for its ludicrously cheap apartments and villas, nothing has changed on this front. If it’s cheap and cheerful you want, Spain is the one to go for.
There are many reasons why Spain has returned to the top of the list for British home buyers and investors over the last twelve months. Here’s some of the best.
Spain is the perfect place to rid yourself of those winter blues, with over 300 days of sun each year. If you’re looking for a relaxed pace of life away from the hustle and bustle, look no further.
Tip: While in the north and north west of Spain can see substantial rainfall, in the southern regions have a great winter climate but can be hot in the summer.
Despite the recent upturn, house prices in Spain remain well below their 2007 peak, with bargains to be found both on the coast and in the cities. The cost of living is also considerably less than in other European countries as Great Bretain, France, Germany, etc.
Tip: Always visit potential properties yourself and consider using a local estate agent to learn about the different areas, type of properties and market prices.
With great value, regular flights from across the EU and UK, Spain remains the most accessible place to buy a home overseas.
Tip: Areas that are easily accessible to EU and UK visitors can offer better rental yields during the busiest periods. If you are looking for a long-term buy-to-let investment, properties located where it is easy and cheap to flight will be more profitable.
Spain is a diverse country with lots of different types of location to choose from. So whether you’re looking for an authentic Spanish experience or prefer to be part of a friendly expat community, you’re sure to find something that’s right up your street.