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Buying options for Spain and Morocco properties

Buying options for Spain and Morocco properties

Buy to Let/Sell/Live

Buy to rent

Many of you will want to capitalise on your investment by renting out your new property. This can be on a purely investment basis where the property is rented out long term. Alternatively, you may prefer short term lets leaving periods for your own use. In either case Prestige Properties Overseas can offer assistance. Many of our developments will have on-site rental and management offices.

Services available will include cleaning, Linen change, maid service (if required) plus airport collection and return. The office will locate tenants by way of advertising, the internet and recommendation. They will also collect rents and issue regular statements giving details of income and expenditure.

Obviously rental income cannot be guaranteed, but as a ‘rule of thumb’ the following returns can be expected:

Spain Properties

Typical 2 bed furnished apartment - long term - £500 per month.
Typical 2 bed furnished apartment - short term - from £200 per week in the season.

Morocco Properties

Typical 2 bed furnished apartment - long term around £500 per month (generally summer lets only).
Typical 2 bed furnished apartment - short term - up to £100 per day.

Buy to sell

Many of our properties are for sale ‘off-plan’. This means pre-construction. Early bird purchasers have a wide choice of apartments in the various developments. At this pre-construction stage the development company will offer ‘rock bottom’ prices to encourage both investors and those buying for personal use.

As building progresses, the developer will increase the price as fewer properties remain for sale. Price increases usually occur 3 or 4 times during construction period. Obviously those who have purchased at the pre-construction stage are looking at a paper profit in a relatively short period of time.

A typical example is the Asilah Beach Resort in Morocco which is now sold out. The development was released for sale ‘off-plan’ in September 2005 - and recommended by Prestige Properties Overseas as a first class investment. 2 Bed apartments were available for just £41,000 - just 3 MONTHS later the developer increased the price to £47,500.

Remember that the early bird purchasers only paid a deposit of £16,400. Those wishing to re-sell at this stage would be looking to receive their original deposit of £16,400 plus a profit of £6,500 - that is a 39% profit on capital investment in just 3 MONTHS!!!

This is an exceptional example, however, Prestige Properties Overseas can quote scores of examples in overseas property where profits far exceeding clients expectations have been obtained. Serious investors, or those wishing to purchase multiple units, should ask to speak to our Investments Manager who may be able to offer investor discounts to bulk purchasers. Even if you are buying purely for your own personal use, it’s nice to know that your property purchase has also been a fine investment.

Buy for holidays, retirement or permanent living

Prestige Properties Overseas’ portfolio of exclusive homes encompasses everything from cosy ”pied a terre” studio apartments to spacious family sized villas complete with private swimming pools. Locations include the most popular overseas coastal resort areas - Morocco, Costa del Sol, Costa Blanca and Almeria. You can select a property close to the sea, where there is usually every facility that you would expect from a overseas holiday resort.

Becoming more popular these days are countryside locations. Property prices and the cost of living are much lower than on the coast. Good 3 course meals with wine are still widely available for around £7. The locals are friendly and gregarious - eager to welcome newcomers. Even the smaller villages will have a selection of shops, medical facilities and banks.

The road network in Spain is excellent these days. The coast, airports, golf courses and places of interest are all within easy driving distance. Becoming increasingly popular with British and Irish purchasers is Morocco. The government is aiming for 10 000 000 tourists annually before 2010.

Our portfolio in Morocco has been limited to vacation areas. Golden sands, clear blue seas and a wonderful Mediterranean climate combined to ensure that Morocco is guaranteed to prove popular with holiday home purchasers. Golfers too wont be disappointed. Our current portfolio features developments with either on-site Golf Courses or with Golf in close proximity.

This weeks property selection:

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