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property news


seem a great time to take the plunge, as you can still buy at low prices in a rising market, with prices still around 30% less than original values leaving plenty of scope for capital growth. Successful property investment is simply a matter of slowly buying up good properties at favourable prices and renting them out, eventually building a strong portfolio. You can then either keep them as a form of pension or sell them off for large gains in the future when the market value doubles or quadruples, as historically it usually does. Just like the game of Monopoly, you can’t go out buying up everything and leaving yourself short of cash when you hit the occasional speed bump. You have to keep reserves so you are never forced to sell at the wrong time, you want to buy now while prices are low and sell later when the market is strong again. Our buyers are coming from all over Europe. Demand from French and Italian buyers has increased, due to them moving money out of their countries to avoid increased property / wealth taxes and now re investing in the Spanish property market. As always, we continue to market and sell to the ever prevalent Scandinavian market, but it’s the British buyers looking to grab a bargain in the strengthening


Spanish Property Market which are still firmly at the top of the purchasing table. We are also selling to non European Investors that wish to obtain a Golden Visa (residency visa), with most enquires from China and the Middle East. Spain began offering residency visas to non E.U. nationals at the end of 2013 to encourage investment in Spain. Tere were several routes an investor could take, but the least expensive was to spend a minimum of € 500,000 on purchasing Spanish property, it could be on single property or a number of smaller apartments as long as the total invested was over €500k. However, surprisingly the initial take-up was slow, so in summer 2015, the Spanish government announced that the visa would now additionally cover common law partners, children and even parents of the visa holder. Tis gives them the right to seek employment and access to the health and education systems. Unlike some countries schemes, there is no requirement to spend a minimum number of days in Spain each year and renewals can be done from outside Spain. Tis suits clients that are not intending to take up permanent residency in the short term, but are purchasing a “buy to Let” investment, retirement property or possibly a safe haven for the future. If you’re thinking about selling, now could be a good time with all the renewed interest in the Costa del Sol. Aſter 25 years helping people buy and sell, I can confidently say that aſter choosing the right agent, the next most important decision is choosing the correct initial marketing price. Tis is because the first 3 months of marketing usually offer the best selling opportunity, due to sales staff being excited about calling their clients and the surge of marketing that follows a new listing. If priced competitively, it should sell reasonably quickly. Any normal person leſt to value their own assets, are naturally going to want as high a price as possible. Many weak or inexperienced agents will take on properties at any price set by


the vendor, for fear that the vendor may be disappointed with the truth and call another agent. Tis is not actually helping the seller at all and nearly always leads to no sale. An experienced and professional agent will share his knowledge and give honest advice, even if it’s not what the vendor wants to hear. We discuss what price similar properties have sold for in the area and show comparable properties currently on the market, so the vendors can themselves understand the true value and agree the correct marketing price. I have been a successful real estate agent and very safe property investor for 25 years, but hadn’t bought anything for 10 years, until 2017 when I borrowed as much as I could and invested in more property on the Costa Del sol. I have also been telling family, friends, and regular investor clients of mine, to start buying up the remaining bargains. Te hard part for me is, I still regularly get to see some amazing clearance deals that I would like to buy, but can’t until the banks loosen up, so offer these deals to our clients. Take it from me, 5 years from now, you are more than likely going to look back at these low prices and wish you had stretched yourself and bought bigger or more properties. I have a very professional team around me, but like giving a “personal touch” and actually encourage clients to utilise my 25 years of real estate / investment and extensive knowledge of the Costa del Sol, whether they are buying or selling. I’m always happy to discuss the best areas or investment deals with our purchasers. Because of this I have built up great relationships with many of our clients spanning my whole career.


For more information on buying or selling property on the Costa del Sol, contact Peter or any of his team on Tel: (0034) 951 551 444 or


email: info@OverseasDreams.com


PROPERTYMAIL / 29


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