This feature looks into the new, modern, contemporary and sleek new apartment- and villa communities, being created all over the coast right now. Property development or so-called “projects” is sometimes thought of being an easy way to make quick money.
Well, it is not easy at all, as developer have to deal with complicate planning regulations, manage budgets, cash flow and large teams of builders, technicians and suppliers. Apart from that, a project will only be successful if its design, prizing, timing and of course its location hits the right spot.
There are many benefits, both short and long-term, of investing in off-plan villas and apartments on the Costa del Sol. Make a right choice of whom you know and trust!
For buyers these newly built apartments and villas could be highly attractive pricewise plus in terms of “cherry-picking” the best unit available. Although the offered properties for sale are of an almost finial design, equipment and layout, buyers will still be able to add their personal touch to their new apartment or villa.
Positive financial aspects:
Pre-launch prizes are mostly cheaper within the first launch weeks than later on when more than 50% of the available units have been already reserved or sold. Purchasing off-plan villas or apartments offers extremely favorable payment terms. All payments are banc secured.
Example (this can vary dependent of developer):
- Reservation fee or a pre-launch deposit, to be paid up front (approx. € 6.000), fully refundable until the project will be licensed.
- 25% payment (minus reservation fee), due with private purchase contract, when project receives the final building license
- 75% final payment upon completion of the building, approx. after 2 years
This makes owning a luxury villa or apartment in and around Marbella at the beautiful Costa del Sol much more attainable. It’s a win-win opportunity: Off-plan villas and apartments not only deliver a brand new property finished to your taste, they also allow you the opportunity to pay in stages and are considered to be an extremely shrewd investment with excellent potential for capital growth.
In spite all advantages to select a property of plan, there are still especially legal and/or location wise risks to be considered. mci real estate strongly advises all buyers to only purchase a property off plan via a real estate agent you trust or directly of a developer you know since a very long time.
Please also have a closer look at all side costs, e.g. tax and notary costs, when purchasing a property in Spain here in our Buyer’s Guide.
mci real estate will introduce some of the most wanted new developments and newly built properties here.
Please feel free to contact our team anytime for our free of charge advises and support.