A Five-step Guide To Buying Costa Del Sol Property
The Costa Del Sol has been at the forefront of Spanish property development for many years and demand is still as high today as it ever was. Prices for property in the region are high and luxury town houses in particular continue to be built to satisfy demand for Costa Del Sol property. Exceptional properties sell very quickly particularly as the demand for them is international and not just from the Spanish home market. So to give you a better chance at finding the perfect Costa Del Sol property here we give you five tips to buying real estate in this stunning part of Spain.
Don’t underestimate the risk
Not a negative but a positive. Costa Del Sol property is not cheap so going in to the market armed with as much information as possible will give you a better chance at finding a deal. A major transaction such as property purchase can’t be done over the phone and Internet so make as many visits to the region as you can to really get to know the place the people and to find yourself an agent whom you both like and trust. They will be your representative and guide throughout the process so that initial contact is vital to ensure that they have your best interests at heart and that you’re happy with the service they offer.
What do you want your property to do for you?
Consider if your property is an investment perhaps something you buy to let a holiday home or even a permanent residence if you are planning to relocate to Spain. If your home is for financial investment then you will want the maximum return for your initial outlay so a property that will be desirable to those looking for a holiday location is important. However if you are permanently relocating you will need a property that ticks your own personal ‘boxes’ and is close to your source of work or to major transport links for easy access to central locations. Use will determine both location and the type of property you are looking for which in turn will determine your price range.
Spanish Law
Spanish property law is very different from UK law so knowing how to deal with all the paperwork and negotiating your way through the system is going to take expert knowledge. It is essential that you use an independent Spanish solicitor to undertake all searches and conveyancing for you so look for one who is local to the area and will know of any particular regulations covering property purchasing that may affect you. Personal recommendations are always the best but if not a search of the Internet will give you a list of names to start with.
Talk to others
The Costa Del Sol has a very large expatriot community so talking to others who have already made the move can be a particularly good way of getting information and advice direct from those who have experienced the process first hand. It also gives you the chance to find out additional information for example school and medical facilities if you are moving permanently to the region what unexpected problems people have encountered and how they have overcome them and how to deal with the Spanish authorities when it comes to purchasing property.
Hot Spots
The most popular resorts in the Costa Del Sol are Benalmadena Fuengirola Torremolinos Marbella Mijas and Nerja. These are also very busy tourist resorts so if you are looking to live within a large expat community then these areas may be the best spots to consider. However property prices in these resorts are at a premium as they are highly desirable to buyers from all over the world. If you’re prepared to look at areas that are perhaps not as developed as these you may find Costa Del Sol property prices that are a little more affordable outside these hot spots. Obviously properties with ocean views command the highest prices so villas and houses that are a little further inland will also be much more affordable than oceanfront properties in major resorts.
Move quickly
In recent years many more Spanish customers have started buying property on the Costa Del Sol so competition for property has become fierce especially in new developments and property hot spots. If you do find the perfect property you will need to make sure that everything proceeds as quickly as possible to secure the deal so ensure that deposits are paid on time paperwork is signed and all deadlines are strictly adhered to. The old ‘manyana’ or ‘do it tomorrow’ attitude is a thing of the past in Spain so once again the services of an expert agent who is fluent in both the language and the system will ensure that the process goes smoothly.
About the writer: Ankita Tyagi is expert content writer on real estate and property in India. For more details on NCR commercial property and residential property India visit: NextGenProperty.co.in
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