Property Bargains and self-contained storage units in Marbella
Marbella property bargains and an increase in property sales is once again hitting the headlines in the UK.
UK house prices have steadily increased over the past 18 months, and this, coupled with a wide choice of property bargains in Marbella has resulted in a win-win situation for buyers wanting to invest in holiday homes and off-plan developments on the Costa del Sol.
If you are planning to buy, rent, sell or downsize your Marbella property, check out self-contained storage units in Marbella, where you can store your goods securely.
Are there Property Bargains in Marbella?
The Spanish property market can be confusing for buyers and sellers. Particularly for people looking to move to the Costa del Sol. Conflicting points include:
- People are still making lots of money from off-plan investments on the Costa del Sol
- People buying off-plan properties are making little or no profit on the Costa del Sol
- The market on the Costa del Sol is strong and is still increasing by over 10% per year
- The market on the Costa del Sol is saturated with off-plan investors attempting to sell before completion
The truth is that all of these statements are true – depending on the location and purchase price of the property.
Ten years ago, many investors made huge profits from buying properties off-plan, before construction had begun. They would then sell them on, before completion. By 2005 the market was saturated and hundreds of off-plan properties were repossessed by the developers and the banks when purchases could not be completed.
Many of those Marbella properties are for sale now at well below their original purchase price.
With the increased internet and television publicity, off-plan investment was easy to understand and became easily available to the general public who may have previously never considered buying property in this way.
The off-plan concept was to buy property with developers offering a discounted price if the investor exchanged at the planning stage (before being built). Many investors bought with the sole intention of selling 2 years later at an increased price of approximately 20-30%. With investors only paying 30% before completion, returns were very profitable. The benefits of the investors selling before completion were that tax and completion costs could be avoided.
Self-contained Storage Units on the Costa del Sol
If you are looking to buy a property in Marbella, you can always transform into a self-storage unit.
The collapse of the Spanish property market in 2005 resulted in a wide choice of distressed and repossessed properties being put up for sale in Marbella.
A vast range of bargain properties are now available in Marbella. The Costa del Sol is once more becoming a buyers dream. Many properties are selling for up to 40% less than their market value, and with 80-100% finance available, buyers are starting to flock back to the Costa del Sol.
A distressed sale does not mean there is a problem with the property, but simply that the vendors need to sell quickly for financial or personal reasons. English speaking lawyers are also on hand throughout Marbella and explain all of the ins and outs of buying property in Spain.
When a developer completes a project, he has no alternative but to foreclose on uncompleted sales. The developer will already have retained the original 30% deposit from the buyer who has been unable to complete. They will often let the repossessed units go at the same price as they were 2-3 years previously. These properties, particularly in Marbella, are an investors dream. As such they (usually) sell within weeks if not days.
Franchise Opportunities in Marbella
This is the perfect time to invest in Marbella. There are hundreds, if not thousands of bargains to be had. As well as property bargains, franchise opportunities in Marbella are also worth an investment.
Marbella storage units can be found close to the town itself. As such giving you peace of mind when storing your household goods or valuables.