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Jumilla, Golf property in Spain at Bulgarian prices
1- When applying for a mortgage, the bank will make it's own assessment of the property's value at
the time of completion of construction. The value of the property is likely to have risen for the
following reasons: Developers will need to sell a proportion of the proposed units on any new project
in order to finance the development so they are sold off plan below market value to attract customers.
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 market value at completion. Considering the potential capital growth as the
development matures coupled with the general increase in house prices, 20 – 30% increase in value of
the property can be achieved from purchase to completion.
2 - The rental income figures are given at a very conservative estimation and do not take into account
the potential for rental price increases over the given period.
3 - A conservative figure of 8% has been used for the purpose of this evaluation - the actual average
12 month to June nominal increase in property values for Jumilla area Years 2001 to 2006 is 13.3%
(source: Sociedad de Tasación SA - the professional body for valuation of real estate in Spain).
4 - Solseeker Properties SL does not claim to be a financial or legal advisor. All figures are estimated
based on third party data from government and professional bodies. The value of your investment may
increase or decrease. Solseeker Properties SL does not guarantee rental occupancy. Expenses can vary
with inflation and other factors. This information does not constitute part of a contract and is offered
for guidance purposes only. Prices, terms and conditions may be subject to change without prior notice.
Making the right investment is key and if you pick the right investment,
you could be in for a handsome return.
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.