Hardened investors who had arrived with the intention of purchasing offplan condo hotel or vacation property in South America were surprised to find themselves very seriously considering purchasing city centre property in Birmingham or vacation homes in Andalucía instead. They simply weren't expecting an Irishman to stand up and offer them high quality finished properties in these locations at lower prices and higher rental yields than their offplan South American equivalents. It was a great success for Torcana overall, and if any of our regular clients would like to view one of the presentations I delivered please click here.  

 

Tips for Spain
There is an enormous glut of properties in Spain at the moment, and we are very picky regarding the types of developments we choose.  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 information below.

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.

 

Birmingham
Those seeking a great value city centre investment and a steady rental income in sterling should definitely download the brochure for our Flatiron Development. Birmingham might not be the most beautiful city in the world, but it is the UKs second most important after London with five universities, a thriving business sector and 42% of the countries exhibition and conference trade. Most importantly, properties are half the price of the capital city and we have secured 35 units at a 40% discount on a 2009 valuation in a modern and centrally located residential development. This is a very safe bet for medium term capital appreciation with rock solid rental yields and low interest mortgage financing. Prices start at just £71,000 (previously on sale for £156,000).

That's it from me this week, hope you are enjoying these newsletters and looking forward to your questions, feedback and enquiries.

As always, there's a great selection of properties for you to look through below.

Kind Regards