Spanish property auctions and golf lets
Spanish Property Investment Advice
Brought to you each week by our property expert, Iain Maitland.
Posted on 10 February 2006
From where I'm sitting, Spain is and always will be the favourite destination of Brit investors. For many, it is a home from home. It is also easy to get to with lots of cheap flights and flying times of about two hours.
Property prices have risen rapidly in recent years, although the rate of growth is now slowing. The latest stats show price rises of about 16 per cent last year - impressive but down on the previous year and higher than this year is expected to achieve. Valencia came top with 27 per cent followed by Cadiz at 26 per cent and Tarragona at 24 per cent. These compare with the lowest rates in Palencia at 11 per cent and Ourense at 9 per cent (still better than most parts of the UK, of course).
Overall, the upward trend is slowing. Expect single-digit growth in 2006. Best places to buy? Look for bargain buys from amongst inland properties close to the leading resorts such as Marbella and Alicante. Some property investors are also looking at golf lets on the more popular coasts, such as the Costa Brava.
Those of you who have been reading what I have written about UK and overseas property over many years will know I have been active in the auction industry for some time. I was interested to note that Direct Auctions is involved in a heavy promotion campaign for their auctions of properties on the Costa Del Sol.
Bascially, they are selling off unwanted offplan properties. Hardly a ringing endorsement but if the price is right you may want to bag a bargain. The website is at www.direct-auctions.com. I have lost count of the hundreds, if not thousands, of articles I have written on property auctions since 1987.
If you want a step by step guide, let me know. You can either email me at
Imaitland@aol.com or you can sign up for free at the site, www.internationalpropertyalerts.co.uk All free, of course.
Golf lets are becoming increasingly popular. Spain looks set to be a big-time beneficiary in 2006. The number of golf courses in Spain has doubled over the past couple of years.
There are now 250 courses and an additional 150 are in the pipeline for construction over the next 10 years. Another often-overlooked fact is that 800,000 golfers come to Spain each year.
They generate more money in the Spanish economy than the package holidaymakers who spend most of their time on the beach and in cheap bars and restaurants.
Look at golfing developments. With a golf development, you know the course and facilities will be maintained well as this is the main source of everyone's income. You can generate good rental returns, even in the traditionally quieter months of September to May (especially popular with golfers on the Costa del Sol and Costa Blanca). Also, the supply of new properties tends to be limited to maintain the look.
Until next time,
Warmest Wishes
Iain Maitland