We just received a property for sale in Spain enquiry that just compelled me to write this blog and just illustrates why UK citizens are missing out whilst the rest of the world takes advantage of the Spanish property market.
To quote the buyer on a property that is on our site for 1.25 Million Euros, the clients proposed to pay 200,000 Euros Cash for the property. I suppose if you don’t ask you don’t get but it does show the ignorance of a lot of perspective buyers from the UK mainly being fed from the uneducated UK Press.
The reality is for these would be buyers the best deals were bought last year in the Golden triangle of Puerto Banus, Nueva Andalucía and Marbella or other similar prime location areas in the Marbella property area.
The first example is La Zagaleta where all the great deals between 2 Million and 3 Million Euros have now been taken from the market. So now you will have to pay closer to 3.5 Million Euros for a property you could have bought last year.
Another example is a very good client and friend of mine who bought in a development close to the beach in Puerto Banus for 399,000 Euros. Now the least expensive unit in this development is selling for 525,000€ so in reality my client could actually sell his property now for a profit.
There will always be exceptions to the rule but the reality is that the best deals are in the past and every month that goes by the more likely it is that your property in Spain will cost you more not less.
That is the reality of the market but unfortunately the majority of UK Buyers seem not to think that’s the case mainly fed by the UK Press.
For those of you deciding on the best Spanish property investment you will no doubt be faced with the age old problem of property V location and what is right for you.
I am sure you have seen all those TV programs like “A Place In The Sun” where the would be property buyer is given the choice between Location or the quality of the property and where the buyer in the majority of cases picks location as the criteria. However as the show unfolds it is nearly always the quality of the property that win over location. So why is this and is this the experience of Spanish Hot Properties on the ground here in Marbella and Costa del Sol.
Yep the truth is our experience very much reflects those TV programs where buyers end up choosing the property over location and the reason is the majority of the buyers just want to make their budget stretch further rather than accepting what their budget will buy in a prime location area.
Also these buyers looking at investment property in Spain actually are not basing their judgment on sound investment fundamentals of the head when it comes to buying Spanish property. The reality it’s the dream of the heart that takes over. There is absolutely nothing wrong with this as long as you understand the reasons you are buying your property. I.e. if it is your property to live in or you want an extended home then the house you live in should be something that your 100% sure about from a living in point of view. However if it’s really for investment purposes then Location Location Location needs to enter the head and rule your decision but invariably doesn’t.
In relation to Spanish Hot Properties experiences with our average sale being around 300,000 Euros its clear those clients have a difficult choice to make but once you can look to spend more than 400.000 Euros it’s much easier to make that call as it’s possible to find good prime location property and then it has more to do with the size of the property.
So what should you do here in Costa del Sol? Well as stated above I would suggest you ask yourselves the following questions
1 What is the property for i.e. holiday home or property investment?
2 Do you want to receive rental income from the property or is it just for you?
3 Do you require finance?
4 How often will you use the property?
Your answers to these questions should allow you to make a reasoned judgment call as to whether you should be looking at investment property in Spain or buying a Spanish holiday home.
If you would like some advice or more information on the process of buying or investing in Spanish property why not contact us at Spanish Hot Properties.
For those of you interested in buying at Samara Resort Marbella and love the pictures why not watch the video here
So as you can see from the video it is a stunning development and at fanatastic prices from the height of the Market.
Below are the basic details of the Develpment
Apartments from – 2 Beds €299.000 , 3 Beds €384,000
Penthouses from – 2 Beds €420.000 – 3 Beds €650.000
Samara Resort Marbella – Costa del Sol – Spain – Location
Samara is a residential resort with a difference, an excellent combination of quality right down to the last detail, a relaxed and healthy lifestyle which is connected to nature and the good life and its location, which offer magnificent views of the sea and Marbella. All these elements make this project special and make it stand out from the rest. It is situated in a peaceful setting and well communicated with the AP7 motorway a few minutes away which allows easy and safe access. It is only 40 minutes from the international airport of Málaga and 60 minutes from Gibraltar airport. In the vicinity there is the La Cañada shopping center, the Costa del Sol main hospital, more than 20 golf courses and the best beach and water sports clubs in Andalucía.
Samara Resort Marbella – Costa del Sol – Spain – The Project
Samara Marbella is simply stunning and stands out for its contemporary design, fantastic facilities and fine detail. Set into the hills of Southern Spain it offers spectacular panoramic views of the Mediterranean Sea and the magnificent mountains of Africa and Gibraltar. Venture just 5 minutes from Samara and you’ll be rewarded with long stretches of sun-kissed beach or perfect your golf swing at one of the many courses in the valley below.
All Samara properties are spacious, light and exquisitely finished, providing everything you need for a truly comfortable and luxurious stay. Each property benefits from an open-plan living room which has been carefully designed to maximise the spectacular views while still delivering complete privacy.
The attention to detail in Samara’s properties is clearly evident in the fittings and finishing touches. Kitchen furniture is by leading Italian specialists Snaidero, electrical appliances are all Bosch, and each property has a pre-installed Bang & Olufsen audio system. Bathrooms all have under-floor heating and every room benefits from cold/warm air conditioning. In addition, every apartment comes complete with it’s own secure parking space and storage area.
Truly desirable, all properties further benefit from terraces and/or balconies, from where you can soak up the sun and take-in the views.
Samara Resort Marbella – Costa del Sol – Spain – The Facilities
Samara Resort is a residential promotion of the multinational company Hines, one of
the most internationally renowned real estate groups with presence in 16 countries
and more than 100 offices throughout the world.
• Buildings – 25 blocks, 169 apartments, 1, 2 & 3 bed apartments, duplex and
penthouses of 2 and 3 bedrooms. Only 2 & 3 bedroom apartments are
available and penthouses of 2 and 3 bedrooms.
• Each apartment includes a parking space and storeroom, with direct access