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OFF-PLAN INVESTMENT PROPERTY PROJECTS
Many foreigners choose to invest in the Algarve and Southern Spain property market because of its proven ability to provide steady returns and capital growth. Further advantages include ongoing income through property rental, and potential taxation benefits. Importantly, an investment property should be viewed just like any other investment. There are essentially two reasons to purchase an investment property; to build wealth over time, or to obtain an ongoing income. Property in the Algarve caters for both of these needs.
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Investment Property Spain – Pueblo Don Thomas, La Gomera

This type of purchase is starting to become very popular with investors that have time on their hands to wait for a property to be build. There is a very good possibility to make a significant return on your initial investment by purchasing "Off Plan". However, BEFORE entering into any off-plan investments DO check out the Estate Agent you are working with and the property developer, who is offering the product. Find out which bank is behind the developer and which other/earlier projects the developer has done. If a local bank offers 70-90% finance, it is a good indicator of a sound project
THE BUYING PROCESS
With the tightening of regulations surrounding the use of offshore companies for property purchase most people investing in property will now be going the more traditional route: - Preliminary Contract followed by Final Deed and Completion. If you are still interested in finding out whether you can benefit from the use of an offshore company it will be important to get the proper legal and financial advice relevant to your personal circumstances. If you follow the traditional buying process the first stage will be the signing of a Reservation Agreement, followed by a Promissory Contract (Contrato de Promessa de Compra e Venda) finalised with the signing of the deeds (Escritura).

You will normally pay a non-refundable deposit of a fixed amount of say €5,000-10,000 stipulated the Reservation Agreement. Thereafter, a 10-30% deposit (minus the reservation fee) with the Promissory Contract and the balance on completion.

It has become customary that the property developer offers bank-finance for the final 70-90%, which makes this investment form even more interesting with the still very low interest rates offered by the banking world!

Those interested in buying property in the Algarve or Southern Spain are not only buying a sound medium and long term investment, they are potentially buying themselves a regular income, as well. Villas and apartments in the area are much sought after - especially during the long summer months - for holiday lets.

So a ‘buy to let’ investment property, especially in the Algarve and Southern Spain, is of real value and an added bonus opportunity for many.

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Investment property Portugal - Investment property Spain - Investment property Morocco
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