Nick Stuart, Director of Marbella-based Spanish Hot Properties, explains, “Every time something positive is reported about the Spanish property market, observers are quick to pooh-pooh assuming it’s fantasy. This is why we only comment factually on what we see happening around us. Bahia de Banus is one of the most desirable products on the market right now - gym, sauna, indoor and outdoor pools, close to the marina – and the cheapest property is selling for comfortably over 600,000 euros. A three bedroom repossession recently came to the market and was bought within days for 370,000 euros.”
“Even taking into consideration high buying and selling costs”, continues Nick, “that Bahia de Banus investor has two very lucrative exit strategies. One, sell on within three months at a reasonable asking price of say 525,000 euros, still a fantastic deal for the buyer but with over 20% profit built in for the investor. Or two, hold on to the prime location asset for two to three years, generating up to 50,000 euros each year in holiday lets in the meantime, and earn as much as 100% profit upon sale. These deals don’t happen every day, there is still a lot of dross on the market, but there is gold to be found.”
Spanish Hot Properties asserts that is only the serious decisive property investors who are making the money, whilst the part-time investor continues to prevaricate and dream. A serious investor has everything in place so that when the right opportunity becomes available they can act before anyone else. This involves having selected a lawyer and access to funds to immediately pay a deposit and take the property off the market – even if they haven’t viewed it in person. It also means they understand the market, have done their homework and know at what level below market value they are prepared to participate.
Nick ends, “The part-time investor tends to register with hundreds of estate agents because they’re frightened of missing out on a deal. Sadly this has the opposite effect as an agent is less likely to focus on them than they are a serious investor who has put their trust and faith exclusively in them due to their specific expertise in Spanish property investment. The part-time investor is therefore likely to get the crumbs from the dinner table.”
On the Market - Las Mimosas de Puerto Banús
Set in a location that’s hard to beat, these super chic Puerto Banús apartments are truly luxurious and now incredibly affordable. Less than two kilometres, that is to say walking distance, from the world-famous 915-berth marina with its array of superyachts and supercars, passing Ocean Club Marbella, Mistral Beach and Sala Beach (formerly Buddha Beach) on the way, Las Mimosas de Puerto Banús is completely gated and totally private.
The 60 apartments and penthouses are surrounded by large typically Andalucian semi-tropical gardens and each has the “wow” factor. Build quality is high with Siemens appliances in the kitchens, hot and cold air conditioning, underfloor heating, video entry and home automation to control everything from blinds to electrical devices. Within the resort the large freeform outdoor swimming pool is joined by a state-of-the-
Prices start from 486,000 euros for a two bedroom apartment with a total built area of 116.04m² including a 16m² terrace plus a garage. This same property was priced at 647,556 euros in 2008 and is therefore discounted by around 25%.
Contact Spanish Hot Properties on UK 00 44 207 558 8355 or telephone Spain 00 34 952 864 382, email Info@spanishhotproperties.com or visit www.spanishhotproperties.com
for further press information or photography please contact Sarah Drane
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