For those who want to profitably buy a home in Spain under construction – now is the time to act. The principle of “invest and wait” no longer works. Now investing in this country began to work on the formula “invest and earn”. Finally, according to experts, years of stagnation in the construction market has been replaced by a revival, which so long awaited many investors.
What is new?
Thanks to the recovery of the Spanish economy after the global crisis, the construction market has revived. Now you can see more and more new projects under construction on the coasts, and in large cities – apartment buildings. There has also been an increase in the sale of land for private construction. Hotels, houses, villas – all this is now again of interest to investors inspired by the growth phase that began in 2016 after the 2010-2015 recession. The Mediterranean coasts of the Costa Brava, as well as the major cities of Madrid and Barcelona, have become the growth leaders in terms of investment in residential real estate. You can also take a look at this region for investment https://yes-mallorca-property.com/offers/typeprop/house/.
Mallorca can be an ideal place for investors from all over the world. Here you can find many different types of properties, each of which can be extremely attractive, then it will help you to spend more time and attention on the subject. So if you are facing such a challenge, you can always open up new perspectives and achieve great results when investing. It is best to buy real estate in those regions where many tourists come every year. This will help you pay more attention to the choice of real estate and get the result that will be exactly what you need. This applies primarily to profits, because if you buy property in Mallorca, it is a guarantee that there are a lot of tourists every year. So you always have the opportunity to pay more attention to the return on investment and get your own profit.
Features of investment in residential property under construction
Buying housing at the construction stage, it is necessary to consider a number of important factors. Attracting a lawyer is relevant not only for the coordination of the traditional moments of the transaction, but also to check the reputation of the enterprise-developer. It is necessary to assess the risks, including in terms of likely bankruptcy of the developer, to check the availability and relevance of permits for construction in one place or another. Besides, a regional factor should be taken into account: for example, in Andalusia, Valencia and Murcia there is a rule of land withdrawal for the needs of the city development, compensation is paid to non-market.
Buying a home in a building under construction or just built (primary) housing, you need to obtain a number of documents. Which should also be checked by a lawyer:
- The guarantee for construction (usually it is at least 10 years);
- A license to carry out construction activities;
- Certificates (on completion of construction and on the status of real estate – where it is recognized as meeting the standards for residential premises and legislation);
- Primary occupancy license.
Installation of the legal status of the object must be carried out by professionals. Only then we can talk about profitable investment.
Where to invest
Apartment house at the stage of excavation, commercial real estate or private sector – now investments in construction in Spain are relevant in any direction. As in other situations, it is necessary to define the goals and objectives facing the investor, as well as the time frame for their achievement. This will be a rational decision.