Offplan Investment

Mijas Costa property investment

Offplan Property Investment

A lot of potential buyers are understandably nervous about buying property off plan in Spain with all the bad publicity it has been receiving recently in the press and on the television.

Be assured that if you appoint a reputable agent like Mila Inversiones we will make sure that if you are buying a property off plan the developer has an insurance policy or bank guarantee to protect your payments should the project not be completed. The developer must also be able to provide proof of ownership, planning permission and insurance against building defects.

With an off-plan purchase, you should aim to pay as low a deposit as possible. Normally this is in the region of 30% with the remaining 70% payable on completion.

Mila will check out important factors including whether you can sell on your contract before completion (as not all developments allow you to do so and do not publicize this fact to purchasers). Ideally 16 months or more is advisable from initial contract to completion. You will need to allow 4 months to sell and 12 months to see an attractive amount of capital growth.

Despite what you hear in the press, quality developments like those offered in Mijas Costa sell very quickly and normally over the course of construction the developers will increase prices four or five times, so you need to get in as early as possible to maximize your profit.

Mila ensure that every investment opportunity we recommend is fully understood by the client at all stages and that it matches their investment criteria. This means that you feel at ease with your decision and can plan ahead to ensure that necessary funds are in place when required and there are no hidden surprises at any stage of the process.

Mila has a highly skilled team of experienced staff who are aware of all the pitfalls of purchasing property in Spain and can therefore ensure that you do not fall into any of them!