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Here´s another great property deal on the Costa del Sol. Las Farolas is a development of apartments superbly located in Mijas Costa, just 20 minutes from Malaga airport, and within a short stroll of lovely sandy beaches.
What´s great about Las Farolas is that all the properties are sold fully furnished, and all the amenities you need for a great holiday are on-site…reception, shop, bar, restaurant.
And of course, the prices of these Spanish properties are fantastic, with 2 bed apartments starting from just €101,750. Right now, it´s the best value buy in Southern Spain.
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With all of these Spanish property bargains being advertised at the moment, it´s tempting to think that it´s easy to make money in this type of climate – i.e. pick up a cheap Spanish property, wait for the market to recover, and then sell at a profit.
But just remember one thing. With Spanish property purchase costs amounting to around 10%, and costs of sale (such as capital gains tax, legal fees and agents commission) to also consider, you realistically need to clear 15% before making any kind of profit whatsoever.
Food for thought before you get carried away.
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So you´ve seen a property in Spain that you would like to buy. What next?
Many buyers are being strongly advised in the media to make ´silly offers´ to secure the best property deal possible. That may be all well and good if you are the only interested party, but in the case of those cheap Spanish properties that are now correctly priced for a quick sale, you may well miss out on your dream home for the sake of saving a few quid if you follow this advice.
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There are lots of Spanish property bargains out there. Prices are falling and some vendors are desperate to sell. However, the biggest mistake that is currently being made by Spanish property buyers is the fatal attraction to the lowest prices.
If you see 2 properties on the Costa del Sol, with one priced at €100,000 and the other at €400,000 euros, the natural tendency is to the think that the cheaper property represents the better example of a Spanish property bargain. That isn´t necessarily the case.
What if the original price of the cheaper property had been €150,000 while the price of the more expensive property had been reduced from €700,000? Continue reading »
