Treading Carefully with Off-plan Property in Spain
The August Spanish property news has been almost uniformly bad - as bad as the property news in the UK. Most commentators agree that the pain will continue well into 2009, so we should expect bad news to be the norm for a while yet.
If you've been keeping an eye on the news stories posted to the
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The reason is simple - our goal is simply to present, compile and summarise the best news stories for you. We don't write the news, but we do try to reflect the range of Spanish property opinion from optimists and pessimists alike.
It seems clear that the over-supply of new build properties is suppressing the resale market in Spain. Personally, I don't believe the mainstream resale market will come back to life until the excess of new-build properties is absorbed. That's likely to happen relatively quickly because many developers are either anxious to complete or the banks have already repossessed their properties.
Aside from the distressed sale or repossessions of resale properties, off-plan properties offer the greatest potential of acquiring property in Spain at a discount. However, not all off-plan properties are bargains.
If you are looking at bargain off-plan property, or are about to complete on an off-plan property, there's a new handbook you simply cannot afford to ignore - because the nature of off-plan purchases has changed dramatically.
Over-supply of properties and the substantial number of developments now coming to completion has clearly affected the return on investment anticipated by many purchasers. The slowing of the property market has caused doubt about the final value and anticipated capital growth of off-plan property in general.
If you have already deposited cash with a developer against an expected purchase, is it worth risking the loss of those funds by walking away from the investment? If you are considering a purchase, what do you need to be aware of to ensure that the bargain really is all that it seems?
I gave Mark Wilkins'
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If you're considering an off-plan purchase, the guide tells you how to negotiate the best possible contract and conditions of sale. The author, Mark Wilkins writes knowledgeably and authoritatively in plain English and the guide even has a money-back guarantee. The cost of the guide is just €27.00 - a small price to pay for expert advice on a series of decisions which could literally save you thousands.
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Martin Dell, Kyero.com
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Treading Carefully with Off-plan Property in Spain 
