Valencia Off-plan Properties, a viable option for overseas buyers

Off-plan property purchase in Valencia was once viewed as the optimum way to gain 18 months of capital appreciation without so much as applying for a mortgage. In the early 2000s, when capital appreciation was 15 or 20 per cent per annum, offplan development was a very attractive proposition,
but with the recent property downturn in Spain is there still anypoint in buying off-plan?

The developer likes early-bird purchasers as their deposits not only provide a bit of cash to get the heavy plant digging but also reassure the bank manager that his financial stake is safe.

In return for your ‘support’, patience and willingness to take a ‘risk’ in buying something you cannot physically see, the developer will discount maybe 10 per cent or so from the market value.This, of course, means at completion stage you have a minimum 10 per cent profit already built in, yours for the taking upon resale.

Price aside, off-plan purchase gives you the chance to cherry pick the best unit. Penthouses, corners and those with the best views sell faster and resale better and as a pioneer you can take your pick.

Additionally, an off-plan property in Valencia should display the latest in building techniques and materials from sound-insulation to durable flooring. And, that ten-year construction guarantee, compulsory under Spanish law for structural defects, is yours for the full decade, which can’t be said for a resale.

Lastly, many developers allow you to get involved in the closing stages of build and stamp your personality on the product. Whether that may be choosing tiles, paint colour or appliances, it is a luxury only afforded by off-plan purchasers

Off-plan property development in Valencia still has its place and that the recent downturn in the country’s property market is making the option a more attractive proposition. Buying off-plan property is no longer as attractive as it was when prices were rising in Valencia, but it will still suit some buyers who like stage payments spread over many months, and want a brand new property.

Developers are now bending over backwards to attract buyers with incentives such as furniture packages and mortgage payments, so in a funny way buying off plan is starting to look more attractive than at any time in recent years.

Spanish property experts advise that buyers of off-plan property in Valencia do their homework, look at examples of the developer’s previous work and make sure both they and their lawyer are clear on which features or qualities were promised contractually, including square metre build sizes.

Real estate investment is based on research, research, research, and research would suggest that better areas for off-plan investment exist to those prepared to work with market professionals.

Consult Easy Property Spain at our web site http://www.easypropertyspain.co.uk/ for more than 300 properties and let our real estate agency in Spain guide you in your property search in Spain with their experience and expertise. Alternatively you can contact our Valencia property agents at sales@easypropertyspain.co.uk or call us on our UK National Number 0871 666 5350.Easy Property Spain is the best choice for your real estate agent in Spain.

For your cheap Spanish homes, Valencian villas, rural property in Spain, Spanish golf properties, contact one of our Valencia property agents or our Valencia Property real estate agency at sales@easypropertyspain.co.uk and let us guide you in your property search in Spain. If you are interested in buying villa in Spain, Spanish golf properties, rural property in Spain, or in general properties for sale in Spain visit http://www.easypropertyspain.co.uk/ and a Valencia property real estate agent will be happy to inform you.