NEWS BULLETIN (PROPERTY INVESTMENT DV)
Dear Investor clients/client introducers
We have just had a purchaser unable to exchange his sale on one of our developments, we are now making this property available again to investor clients at the original price, for a quick sale.
It is now the cheapest 2 bed apartment available on the whole development and is very good value, being an end of block corner apartment with a partial view and next to swimming pool.
The development is set in one of the most prestigious areas of Europe and said to be the new investment Hot Spot of southern Spain. The apartment is exceptional value and is very large at 97 sqm with a further 28 sqm Terrace. See below for further details.
Show Flat (click here)
2 Bed Apartment (click here)
Payment plan on the first floor apartment in Duquesa Village as below. I suggest you use Lexland (a top Marbella law firm) and transfer 6000 Euros to their client account ASAP to reserve the property. This is to protect you legally.
1. 6000 Euros reservation fee to temporarily hold the property until exchange.
2. 27% deposit on private purchase contract (exchange) minus reservation fee (6-8 weeks after Reservation)
3. 73% on completion Final payment, (expected completion date June 2007)
You will need to pay Spanish property tax (I.T.P.)of 7% on all of the above payments.
214,500 Euros x 7% = 229,515 Euros the reservation fee tax, goes onto the next payment.
i.e. UK equivalent based on (1.45 exchange rate) this is only a guide as rates fluctuate.
1. 6,000 Euros = £4,138 Holds property.
2. 54,990 Euros = £37,924 on exchange (6-8 weeks after Reservation)
3. 168,525 Euros = £116,224 On completion (June 2007) you don't pay this if you sell before completion
Total 229,515 Euros = £158,286 (including 7% transfer tax)
In Spain, as in other European Countries, You calculate to pay approx 14% 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 7% approx of the sale price, for the other charges including solicitors, notary fees and other taxes etc. For further details consult with your solicitor.
If you are thinking of purchasing as an investment !
We normally agree special terms, that clients can sell before completion without any major penalty charges, except a possible fee for administration when contract need transferring to the new buyer.
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