There is an enormous glut of properties in Spain at the moment, and I’m very picky regarding the types of developments that are chosen for clients. My top tip for those seeking the perfect mix of investment and vacation is our new 288 unit development in Granada. We have negotiated exclusive discounts jointly with the bank and developer and independent research forecasts net rental yields of 8%. It is a beautiful resort in an unbelievable location with access to beaches (10min), golf courses (15 min), ski slopes (35 min), airport (25 min) and the historic town centre of Granada (20 min). You can find further on our website.

Generally speaking, I would advise buyers to stay clear of large developments (I get nervous when they are bigger than 300 units) and high density developments (more than 3 storeys). You should be purchasing units that are least 30% lower than the previous purchase price and that are at least 65% sold (to avoid risk that community fee system will collapse). And of course, don’t even think about purchasing offplan, with hundreds of thousands of unsold finished properties available all over the country at bargain prices, there’s simply no need to take that risk.

Kind Regards

Colin Murphy

Director

Torcana Ltd

Tags: discounts available, Spanish Property, spanish property advice, tips spain
Posted in Spanish Property |