Investment
For some years now Spanish property been the ideal vehicle for off-plan investment. The market has seen a rapid rise in value as Spanish property has caught up with other European countries, and although attention has very recently turned to the new developing countries within the EU, there are still some very good off plan deals within Spain.
For medium to long-term investment, buy-to-rent investment in Spain still has great potential due to the advantages of:
- Stable economy
- Established infrastructure
- Still the first choice for British wishing to relocate from the UK
- Strength of the holiday and long term rental market
- Proliferation of budget airline destinations in Spain
- Still areas in Southern Spain, such as Almeria province where new property values are still rising by approximately 12%pa.
You have a great choice of property here in Spain but to avoid some of the common pitfalls a few simple investment rules should be observed:
- Location of the property is paramount. Whilst it may be ideal for some, not everyone wants to live on a golf course with few other local facilities.
- Build quality should conform fully to European standards for an enduring investment.
- The developer should be able to provide copies of the building licence and the stamped architect's plans for a solicitor to examine. It is important to establish that the architect's plans for the fachada (external façade) of the development actually matches the artists impression of the finished product.
- The size of the property should be appropriate for the future plans of the investor. A 40- 60sq.m. apartment may be adequate for holidays and short term letting for a small family unit, but would be totally inadequate for larger groups or for long term living.
Joel Homes developments are built in carefully selected areas, close to a comprehensive range of facilities. Our apartments and duplexes are spacious and thoughtfully designed, with particular attention to detail, providing quality accommodation that is built to last.
For further investment advice click here.