IT has been an amazing year at this end of the coast.
While 2015 has seen Spain creep out of the economic crisis, Brits are very much back and enjoying the excellent exchange rates, not to mention unparalleled deals up for grabs.
We have seen a massive 60% increase in the number of purchases in the Manilva area on last year, with a much higher conversion rate in leads to sales.
Enquiries remain stable, but we have noticed clients are more confident and readier to invest.
Further afield, investment funds from across the pond in America have seen the potential and are also buying in Spain without hesitation.
With excellent properties being released onto the market and some once-in-a-lifetime finance options being offered by banks, it is the perfect moment to make that move.
The market is picking up and quality is on the up, but value-for-money properties are changing hands extremely quickly… so keep your eye on the ball!
Some developments have even increased their prices.
The year ahead
Opportunities abound and 2016 will see even more confidence and even more sales.
The key tell-tale signs are the numerous investors setting up companies to trade, hoping to buy and sell within five years.
And new properties just keep coming, with the best value releases available to those who have their paperwork and finances in order.
And it’s not just bargains, with luxury properties more in demand than ever.
Most promisingly, Spain is back in pole position as one of the top quality of life destinations, not just as an investment opportunity.
Hacienda Casares is a fabulous new development
A DIAMOND in the rough languishes in the rolling hills around Casares.
Hacienda Casares is set in a dream location, next to a golf course, high on a hill and surrounded by fabulous walks.
The beautiful apartments have just become available with unbelievable rates of finance (up to 95%).
Properties start at €93,300 and all have private underground parking, communal gardens and a pool and lifts.
The only way of viewing the apartments is through Hamilton Homes, as we represent the owner, a bank – which explains their incredible prices, even for three-bed properties which are rare.
With views over Dona Julia Golf Course, out to the Med and the African coastline, the impressive natural backdrop is priceless.
The 18-hole, golf course is well-kept, well-designed (by well-known Malaga architect Antonio Garcia Garrido) and well-reviewed.
The apartments are repossessions and the bank is pouring funds into repairing and fixing the outside area.
It is a rags to riches story whereby the development was badly hit by the financial crisis and the developer went bust with very few apartments sold.
But the improvements are already taking place and with some flats literally on the golf course, the location is second to none.
With heaps of potential, the continual improvements are transforming it into the Coast’s best value destination.
It is following in the footsteps of Duquesa Village urbanisation, where Hamilton Homes started selling on behalf of the banks five years ago, which is now very sought after.
From being a ghost town back then with 150 units available, they are now all sold and this is predicted for Hacienda Casares in the coming years.
It is 3.6km from the coast, 15 minutes from whitewashed Casares, 10 minutes from La Duquesa and Sabinillas and just 15 minutes from charming Estepona.
At just 50 minutes from Malaga airport and half an hour from Gibraltar airport, you will struggle to find a better-located spot.
Three golden rules for buying in Spain
- Patience is a virtue
Many of the best buys on the market are from the banks. But thanks to new money laundering laws and a paperwork heavy, bureaucratic system, patience is certainly needed. There are delays, even for cash buyers, as they have to prove where their money comes from. Take comfort in the new crackdown on legality, as in the long-run it makes your purchase safer.
- You can never be too prepared
So you’ve decided to buy in Spain. It’s exciting! But to get ahead, do as much of the groundwork that you can, even before you find your ideal property. For example, touch base with a lawyer, get an NIE number, open a Spanish bank account, set up a Power of Attorney if necessary and collate paperwork for a mortgage. All these things can take time and you don’t want to miss losing your dream home while you are waiting for an NIE number (NB: this is one of the many areas where we can guide you.)
- Knowledge is key
Know what you can afford. Find out your budget, work out how much you can afford to spend on community fees and be savvy to cheap properties which have high monthly costs. It is essential to identify the type of property you want, the most important features and your priorities – a stunning view or a corner shop, for example?
Give Andrew and Shani a call to go through all the best local options.
• Call 952 890 444 or email [email protected]