In recent years the plethora of agents based in Spain has contracted to the extent that those that remain are increasingly expert in their part of the Costas from Barcelona in the East, Murcia and Almeria in the South East, Marbella in the South to Cadiz in the West. There are a few larger agencies that have sought to “own” Spain and do an admirable job with experienced and intelligent staff who’s job is not to door step any potential client or badger you into buying.
Before you start looking for your home in the sun, you must decide which area of Spain and what type of property will be most suitable for your needs.
Whatever your reasons for seeking a property in Spain, shop around and take advice. Perhaps you have friends who already own a property? They are almost certainly your best starting point in your quest for a second home.
It should be born in mind that the commission due to a seller’s Estate Agent will usually be paid by the seller. However, a custom has emerged in a number of regions for such commission to be paid 50/50 by the buyer and seller.
Many people structure their purchase decisions based on the prospect of rental income.
According to our colleague Iain Maitland at International Property Alerts, Barclays IESE Barometer is showing that Murcia is becoming increasingly popular with the British expats. It’s now in fourth place behind Alicante, Malaga and the Balearic Islands. The growth market is clearly golf lets. The good weather – about nine to ten months a year is keeping the rentals up.
We are seeing a developing market on the Costas Blanca and del Sol – which is growing out of the off plan market of three to four years ago. This involves recently completed properties in urbanisations that are increasingly mature in terms of gardens and infrastructure. A well managed rental operation with a great Internet presence and operated run from an offices local close to the urbanisation is a God send to absent owners seeking to maximise on the year round market.
© The Rights Group SL 2006 (Marbella)
Mark FR Wilkins
www.therightsgroup.com (under review)
+34 600 343 917
Please note that the information provided in this article is of a general interest nature and intended as a basic outline only. You are well advised to contact a professional for advice specific to your circumstances. Nothing contained in this article should be seen or taken as the writer or publisher providing legal or financial advice.