Latest TOP Network News Bulletin (May 2005)
Dear investor clients
A great opportunity has just emerged on one of the hottest developments on the Spanish Costas. One of our clients that purchased a couple of apartments on the first day of release, eight months ago, has now got to withdraw from one of their apartment purchases, due to a blown sale on a UK property.
As they do not have the funds to exchange on both, they are reluctantly prepared to pass one of the contracts on to our investors for the same price they reserved it 8 months ago.
The apartment was selected, on the first day of release and is considered one of the best investments choices not only on the development but also the Costa del Sol.
THE APARTMENT IS: TOP FLOOR, FRONT LINE GOLF, WITH SHARE OF GOLF COURSE, FACING SOUTH TOWARDS THE SEA, OVERLOOKING GOLF, LAKE AND COAST. The property boasts hot & cold air conditioning, marble floors and a fitted kitchen with appliances. The development is situated 5 mins from a World Class (award winning) marina, Large park with lake, Beach and all the amenities that you could ever need. Being offered at the original price of 230,925 Euros +7% government tax or approx 159,259 pounds +7% tax.
Click Here for more info.
The apartment can be secured with 6000 euros for two weeks until you view the development (if necessary) and then exchanged with only 30% plus tax paid (74,127 euros inclusive of 7% tax or approx 51,122 pounds inclusive of 7% tax), with nothing else to pay until completion in approx a year and a half. At this time you can possibly take over the developers very competitive mortgage or refinance. We can also help arrange finance for your 30% deposit if necessary.
The property also has a lot of growth potential, as expected completion is not for a year and a half yet.
According to Government figures, average prices in Spain rose by 17.5 per cent in 2004. After rising by 15.9 percent in 2001, 18.1 per cent in 2002 and 17.6 per cent in 2003, Spanish property is now 82 per cent more expensive than it was four years ago. However Andalucia including the very popular Costa del Sol, had a 21 per cent price increase (its third year on the trot with price rises over 20 per cent).
Confidence in the future market is being restored with latest market reports showing continued movement towards people investing and moving to southern Spain and double digit price increases predicted in the foreseeable future. Below are quotes from such a report just released by RICS (Royal Institute of Chartered Surveyors)
Housing markets across Europe have strengthened over the past year, with all the major market indicators; house prices, transactions, mortgages and house building, all showing strong growth, according to RICS’ European Housing Review 2005 published today (Thursday 3 March 2005).
Spain, Ireland and France, all maintained double-digit house price inflation rates. The UK alone saw its housing market decline significantly in the latter part of the year after a series of interest rate rises.
The fortunes of second homes and retirement markets are closely entwined as those looking to retire are attracted to the same places as those seeking a second residence for weekends and holidays. Holiday homes such as those in the Spanish coast, can be lucrative investment opportunities, providing a combination of capital growth with rental income.
This is an unexpected turn of events and a great opportunity for a second bite of the apple.
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