12 Nov 2011 9:11 AM:
Hi
We have owned in La Manga since 2003 and did a lot of research on line looking at different websites and were lucky enough to have friends who had owned in Spain for several years who could advise us. Also lucky enough to find an agent who actually listen to our requirements and didn't just show us the endless golf resorts. Which 3 out of the 4 agents we approached showed us.
We are in the Veneciola area of the La Manga strip which gives us access to both the Mar Menor & the Med beaches each within a 5 minute walk, and is a relatively quiet area at the far end of the strip.
With the access to both seas and the strip is really great during the summer, lots of restaurants, bars etc and is buzzing and good for rental.
However out of season is a different matter all together it's very quiet although as more Brits have bought property the season has slowly got longer.
If you want a property aimed at the rental market i would suggest somewhere with access to a good golf course and a beach, possibly on the mainland side of the Mar Menor. You have Los Belones & Los Alcazeras which have acces to nice beaches and are near various golf courses such as the La Manga Club.This way you would get the beach lovers during the summer and then as it cools down the golfers during the winter when it's cold and wet in the UK, and not to hot in Spain. We found our property through a young British couple who had just started up at the time, since then a friend of mine has purchased though them,two have sold properties through them and friends let their properties through them.
They are The Spanish Connection and have a comprehensive website.
You will then need a legal representative who is independent from the developer/ seller, who will help you through the process and carry out the necessary checks on the property. To make sure there are no outstanding fees or debts against the property, and look after your interests. Someone to deal with your yearly tax obligations, council tax and tax from your letting income etc.
We use a company called Iberbrit Legal who have English and Spanish staff, they are Iberbrit Legal and have a conprehensive website.
Where ever you decide to buy don't be rushed into it make sure you check and double check, there are lots of large developments promising shops, Medical centres, Restaurants etc. But the way things are now businesses aren't renting in the commercial areas of these resorts and you could find yourself isolated.
There are some real bargains to be had at the moment with lots of owners with mortgages just handing their keys back to the Banks and Mortgage companies and walking away. If you can buy without having a mortgage that's the way to go rather than over stretching yourself making you heavily reliant on the rental income to pay a big mortgage.
We fly into Murcia Airport near San Javier at the moment, but it would appear that it may close when the new Corvera which put about half an hour on our journey to our apartment.
That is all the advice i would give you if you definitely decide to buy in the area, having said that we don't let our apartment it is purely for our own use.
But and it's a big But as Meggie says there are hundreds of properties to rent in the area, many remain empty for the majority of the year as availability far out ways the demand.
This is when people who have fallen into the agents trap and as they say " Left their brain on the plane" are carried away with sun and the beaches etc. They are sure that they will have no problem renting out their property loads of people they know will want to rent it. They may well do but once not every year, what would make your property stand out from the rest, that's virtually impossible with so many properties out there.
I would suggest that with the way things are for house buyers in the UK that would be the way to go, you still have to really research and find the right area. But I agree with Megggie a buy to let in the UK would be the way to go as a long term investment to generate a regular income.
Thread:
Hello, Advice needed please on purchasing a coastal apartment in the Murcia area
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