£322,000


Three-bedroom, three-bathroom detached villa with roof terrace, garden and pool, 90 metres from El Playazo beach in Playa Marques, Almería. The price has been discounted by about 60 per cent. It includes discounted golf membership to the nearby Desert Springs resort (almanzora.com).


Why buy: A beautifully designed new villa overlooking a huge sandy beach from a reputable British developer. Why not buy: Traditionally the less sought-after side of Andalucía, though that also makes it cheaper.


including a free furniture pack and air conditioning. In addition, 110 per cent mortgages are available. “One Hong Kong-based investor is buying there on the basis that he can currently expect a 6 per cent rental return, covering all his costs, and he estimates an 18 per cent return once the park is built and he can get 30 weeks’ booking a year,” says Birkett, who deals directly with banks, but is sparing in what he passes on to clients. He says: “I always think: ‘Would I


sell this to my sister?’ The banks are often annoyed that I’m not marketing more of their properties, but many just aren’t appealing to investors, who typically want somewhere on the coast they can use themselves and rent out.” In El Ejido on the Almerían coast,


Birkett has two-bedroom fl ats at a new Porto Fino harbourfront development – a bank repossession – for £120,000, with 100 per cent mortgages available. “It’s a beautiful area, an oasis of palm trees, and El Ejido is a stunning town,” says Birkett.


Repossessed villas are more unusual, but he has some four- bedroom villas with private pools in Turre, near Mojácar in Almería, that were built a few years ago, valued at £320,000, but 18 buyers failed to complete. They are now available for £162,000. Connells estate agents also offer British buyers access to Spanish bank-owned properties, through their partnership with CAM, a Spanish bank which has about 5,500 repossessed properties. “We are dealing with about 2,000


of them, mainly on or near the coast north or south of Alicante, where


50 aplaceinthesun.com


demand for holiday homes is highest. In Torrevieja and Orihuela Costa, we tend to sell small holiday apartments, but we also sell some larger villas in towns north of Alicante such as Calpe and properties on distressed golf developments,” says Stuart Flavell, Connells’ chief executive. The estate agency launched its Spanish offering at a diffi cult time, October 2010, and the CAM bank has itself been on the brink, and was recently rescued by a bigger bank. But Connells saw 7,000 inquiries


for Spanish properties last year – mainly from British, Indian and American buyers – with properties discounted by 50 per cent on average and sales typically taking three months to complete. Buyers deal initially with Connells,


and then their details are passed directly to CAM, whose in-house estate agency team will arrange viewings. “If an offer is made at web price,


the buyer signs an offer form with no deposit required. Once the offer is accepted, a private purchase contract is signed within seven days and a 10 per cent deposit is paid,” Flavell explains. If an offer below web price is


accepted, the property is advertised at that price on an online auction website for fi ve days. “Anyone can bid within that period with a minimum increment of €3,000 (£2,500) on each offer. Once the auction has ended and the buyer identifi ed, the purchase process continues as normal,” he adds. CAM can also offer up to 90 per cent mortgages for UK residents, with interest rates of 2 per cent above Euribor..


£92,645


Two-bedroom, two-bathroom apartments at Key Mare in Vera, Almería, through Property Venture (property-venture.com). Propertyrepossessionsspain.com are also marketing these apartments and are offering a free furniture package and air-con.


Why buy: Good facilities on the development and beaches nearby. Ten minutes from Vera’s high-speed rail station (due to be completed in the next two-to- three years, a 15-minute journey from the future Paramount theme park in Murcia). Why not buy: Cheap property prices here refl ect the market – fewer people want to buy here than the Costa del Sol. That may also be refl ected in rental demand.


£247,000


Three-bedroom, two- bathroom country cottage at Desert Springs golf resort near Vera in Almería, with views over the golf course


and a communal swimming pool. Discounted from £494,000 (almanzora.com).


Why buy: Great-looking, good-quality house on desert-style golf course, with fantastic sports facilities. Buyers also benefi t from reduced VAT (4 per cent rather than the usual 8 per cent) and 90 per cent-100 per cent LTV mortgages available.


Why not buy: Not for people looking to immerse themselves in local Spanish life as this resort has a close expat community and isn’t within walking distance of a town.


SPANISH BARGAINS


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