DV/RM payment schedule
The most favoured part of Spain is the southern coast of Andalucia 'Costa del Sol' also known as the California of Europe and Costa del Golf. This area has previously proved to be the best for investment, capital growth and all year round rental, due to the unique climate (320 days of sunshine per annum) and largest concentration of world class golf courses in Europe.
Both Andalucia and Costa del Sol have increased by approx. 10 to 20% per annum for the last five years, much higher than the average in Spain. However popularity has also meant that true bargains are very hard to find.
We are able to offer off-plan properties in great locations, good build quality, size and a most importantly 'value for money'.
Average Prices for Southern Spain:
1 bed apartments start from £100,000 to £200,000
2 bed apartments start from £160,000 to £350,000
3 bed apartments start from £210,000 to £550,000
Townhouses start from £260,000 to £450,000
Villa's usually start from £450,000 to £3,000,000
Visit us in Spain, view the best value off-plan Deals. We have a portfolio of developments with 'Building Licenses' in place as well as 'Bank Guarantees' on every payment made offering total protection on your investment.
Reserve a property with as little as £4000 for up-to 6-8 weeks. This gives you time to raise the exchange deposit of 20-30% of the purchase price (usually from equity in your UK home), after this the property is yours and you will not have to make any further payments until completion (end of 2007).
Then either take over the very competitive developers mortgage, currently at 3.5% (subject to status) or take out a new low rate Spanish mortgage for a higher amount than you purchased, to cover all expenses and deposit (subject to valuation).
Two developments we are currently promoting stand out from all the rest on the coast as real bargains. Fantastically situated in the world renowned Marbella and new hot spot Duquesa. Duquesa is located between Puerto Banus (a favourite with the rich & famous) and Sotogrande (favoured by Royalty, polo & sailing enthusiasts). The developments are located in or next to golf courses in the hills above beautiful marinas and beaches. The developments offer very large apartments with large terraces, communal pools, landscaped gardens, underground parking, lifts, luxury fittings, marble floors, electric shutters, etc. etc.
Example payment schedule:
You will need to pay Spanish property tax (I.T.P.) of 7% on all payments.
Example sale price 238,950 Euros x 7% = 255,677 Euros.
i.e. UK equivalent based on (1.5 exchange rate) this is only a guide as rates fluctuate.
1. 6,000 Euros = approx. 4,000 pounds holds property for 6-8 weeks.
2. 63,925 Euros = approx. 42,616 pounds on Exchange.
3. 185,752 Euros = approx. 123,835 pounds on Completion (expected end of 2007) you don't pay this if you sell before completion.
Total 255,677 Euros = 170,451 pounds (including 7% transfer tax)
In Spain, as in other European countries, You usually expect to pay 10-12% on top of the sale price in fees, however, the calculation above includes 7% transfer tax on each payment, which means you only need to calculate another 3-5% approx. of the sale price, for the other charges including solicitors, notary fees and other taxes etc. For further details consult with your solicitor.
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