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Top Tips For Investing In Property
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Making the right investment is key and if you pick the right investment,
you could be in for a handsome return.
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Considering buying in Spain?
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Where should I buy? Schools in Spain? Healthcare? Legal fees? Please browse through this section for helpful
hints and answers to all your questions on buying property in Spain.
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Buying Off-Plan
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A developer will need to sell a proportion of the proposed units on any
new project in order to finance the development. Customers wishing to
purchase property generally prefer to be able to see the finished product
they are buying, so to attract clients the developer will offer units off plan
well below market prices in the early phases of development. The
developer will aim to sell as many units as quickly as possible in order to
minimize their own financial exposure and therefore the prices at the
beginning of the development are very competitive. Also, buying early in
the project will allow choice of the prime locations within the development,
offering greater resale potential. Once the unit is completed, it can be
financed by mortgage opening the property up to a much larger market of
customers, with this increase in demand having a positive effect on the
market price, i.e. the value of the property will increase.
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Considering the potential capital growth as the development
matures coupled with the general increase in prices in the housing
market, a real 20 30% capital growth can be achieved in 12 24
months |
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