Spanish investment property
If you are a speculator you can make money investing in property in Spain.
Here are a few of the ways :
From time to time builders offer deals where there is currently no planning
permission.
For example a scheme has been approved and is going through the
approval steps which may last several years.
You are offered a chance to join in the process by paying a returnable deposit.
If the permission is not given, the money is returned to you with interest over the
period of your exposure.
Sometimes to encourage sales a number of quick sales are offered at a lower price
You could pick out the best properties e.g. penthouses or front corners and wait until construction begins.
This process may last up to 4 years.
You can then put your property up for sale at the market rate. The figure can be from 30% to 100% higher than what you paid.
Because there are no transactions happening there are no title deeds and tax payments etc.
So you could choose to take your profit and leave the new buyer to compete final
payments and legal fees of the transaction
There is always risk in speculation so your job is to reduce or eliminate it and taking
to a lawyer is a good first step.
He could check out that everything is in order before you enter into the deal.
