London and Monaco are Europe’s most expensive cities for residential property buyers. Prices in the Baltics have risen to the same level as capitals such as Copenhagen, Berlin, Munich, Stockholm, Vienna, and Frankfurt.
High rewards await property investors in some parts of Europe, according to the Global Property Guide, a residential real estate research organization (www.globalpropertyguide.com). Rental yields for apartments in several Eastern European capitals are above 10%.
Rental apartments in Moldova’s capital city Chisinau can be expected to yield annual rental returns of around 14.13%; in Poland’s capital Warsaw, 13.28%; in Bulgaria’s capital Sofia, 10.56%; and in Slovakia’s capital Bratislava, 10.06%. The higher risks of Eastern Europe may be a factor in these returns (corruption, political instability, etc).
But risks are not the only factor. The Global Property Guide believes that the relatively recent arrival of the market economy, high interest rates, and relatively undeveloped mortgage markets, largely explain the low prices in the east. To illustrate, it would surely be hard to label the historic city of Bratislava, Slovakia, as a high-risk location, yet the rental income returns are excellent.
Western Europe generally suffers from another, different disadvantage: High taxation. There are high rental income returns to be earned in Amsterdam and Paris (8.25% in both), in Munich (7.80%) and Brussels (7.53%). But all four cities are high tax environments (but so too is Poland).
Property in Prime Central London returns surprisingly high rental yields, at 7.13%. Note that this “Prime” category encompasses relatively a narrow group of super-luxury apartments in absolutely prime areas (Belgravia, Chelsea, and Knightsbridge). The high returns in these select super-central locations contrast with the significantly lower rental yields (5.79%) available in Central London’s other luxury areas (Kensington, Bayswater, Notting Hill Gate, St Johns Wood, Highgate, Islington, Highbury, and Primrose Hill).
Europe’s most expensive cities
The tiny principality of Monaco is the most expensive location to buy an apartment in Europe at around €24,900 per square metre (sq. m.).
Closely on its tail is Prime Central London, where 120 sq. m. super-luxury apartments can cost £1,170,000 (€1,742,656) or £9,750 (€14,522) per sq. m. Apartments of 120 sq. m. in other luxury areas of Central London are likely to cost £580,000 or £4,833 per sq. m. (€863,880 or €7,199). The large difference is explained by London’s highly segmented top-end market, with super-luxury apartments in absolutely prime areas commanding considerable premiums.
Paris and Amsterdam follow London. A 120 sq. m. apartment in either of these cities has an average purchase price of €800,000 (€6,667 per sq. m.).
Moscow is Europe’s sixth most expensive capital for buyers of residential property. And though apartments in Moscow can be rather rewarding for buyers in terms of rental income returns, investors should be aware of the high risks (purchases are cash-based, and the authorities can suddenly turn hostile).
Dublin makes an appearance among Europe’s most expensive cities in 10th place, with a high end 120 sq. m. apartment on average costing around €600,000.
The Baltics, till recently Europe’s hottest residential investment destination, are now expensive. A high-end apartment in Central Vilnius, Lithuania will cost on average around €3,792 per sq. m (€455,000 for 120 sq. m.).
Latvia follows closely with high-end apartments in Central Riga costing an average of €3,020 pr sq. m. Rental yields in the Baltics have also dropped to very low levels.
There are still some very inexpensive capitals in Europe. Berlin, in particular (€3,167 per sq. m.), is now experiencing inflows of foreign money in response to its relatively low prices.
Even less expensive are:
Slovakia’s Bratislava (€1,292 per sq. m.)
Poland’s Warsaw (€1,175 per sq. m.)
Macedonia’s Skopje (€1,125 per sq. m.)
Moldova’s Chisinau (€917 per sq. m.)
Rental returns cannot fall forever
As 2007 dawns, rental returns are lower in most locations than they have been for 20 or more years.
Nowhere in Europe are rents keeping pace with the continued strong rise in property prices. Residential real estate prices are at historical peaks in almost all countries in Europe, except Germany and Switzerland.
This is cause for concern. At the Global Property Guide, we informally consider a danger signal to be rental returns of around 4% or below.
Several European capitals offer rental income yields around or below this 4% level. In example is Madrid, where rental returns are now at only 3.15%. Rental yields in Monaco are the lowest in Europe at around 2.43%.
UK and mainland Europe property investors looking for high growth in 2007 are hoping for a repeat of the property inflation seen in Malta when it joined the EU in 2004, and it could become reality with the news that low cost airlines are to fly to the island, giving their real estate industry expectation that 2007 could be an exceptional year for price rises and sales.
In recent years the arrival of low cost – sometimes referred to as ‘no frills’ – airlines to a regional airport has seen property prices within a two hour drive escalate in popularity and price, especially among British buyers for France and Spain.
With the advent of these new flights to Malta, there is a possibility that demand for real estate in Malta will increase.
Commenting on the news, a Malta holidays guide says that a double digit property inflation figure for Malta is quite possible for 2007.
‘Cheap airline destinations have proved to be a magnet for UK property investors, and if that trend continues then prices will go up in the next twelve to twenty four months.’
‘Other than the local market, the UK provides most buyers for property in Malta, and with the British economy doing well it’s quite possible that the island will be seen as a good investment opportunity’.
Cheap Holidays In Malta
A Malta real estate agent agrees that property prices could rise in 2007.
‘With lower fares, Malta becomes a destination viable for 3 and 4 days trips a few times a year from the UK, and that will attract buyers to look at Malta in the same way they do France and Spain when considering where to buy a holiday home abroad. The weather in Malta and low fares could be a magnet for buyers.’
There is a warning however from the travel guide that property prices on the island might not necessarily escalate in the same way that regions of France have seen when low cost airlines have started flying to their region.
‘The Malta government has allowed more land to be used for property, and we anticipate a lot more apartment blocks being built short and medium term. Supply might well meet demand. Unless the Malta map changes politically and with it a change of policy towards her environment, there is a danger of Malta becoming the Tower Hamlets of the Mediterranean, or 1970’s Spain where development spoiled much of the coast.’
Concern has also been expressed on the island about the infrastructure, with some tourists and potential property investors berating the state of the roads and – compared to mainland European and UK standards – dangerous construction sites.
‘The real winners from the low cost flights could be the Malta hotels rather than the property industry’, conclude the guide. ‘We envisage a lot more people taking short three and four day Malta holidays, often booking their flights and hotels on the internet rather than via a traditional high street travel agent chain’.
More and more people are realizing that it’s not just the American real estate market that’s turned into a buyer’s market. The East European real estate market is also benefiting from a housing boom and many Americans are discovering that a European vacation home is well within their reach. Real estate in Eastern Europe is in a unique situation. Real estate properties are currently low enough to be attainable, yet are rising quickly enough to offer a healthy return on the investment.
Soaring Property Values In Eastern Europe
Property values in Eastern Europe are rising, but are nowhere near their peak. This combination makes now a great time to buy. East European real estate can be purchased for as little as 40,000 to 60,000 euros in countries such as Romania, Turkey and Poland.
Industry experts expect the market to explode in the next 20 years and are encouraging their clients to buy now. It is expected that over 24 million people will be searching for a home to rent or buy throughout Eastern Europe and because of this large influx of people, money will pour into Eastern Europe. In turn this will encourage new industry, jobs and housing options.
Your Financial Situation
Finances play an important part of any real estate transaction. Obviously before looking into purchasing East European real estate, you need to make sure your finances are in order. Do you have the funds available for down payment, taxes and any required maintenance and upkeep the property requires?
After looking at your own finances, the fun begins! It’s time to start researching countries. Are you interested in a property in Poland or a Turkey villa? East European real estate can be overwhelming at first so a little research is a must.
Find A Company That Specializes In European Real Estate
A company that focuses on East European real estate is vital. For most Americans, traveling back and forth multiple times to house hunt isn’t a viable option. This where an Eastern European property company comes into the picture. They can help find properties that fit your specifications and can help narrow down your geographical area if needed.
Once you choose a few properties to visit, they can assist with any language barriers and local customs that need to be observed. Your real estate company can also help with the small, yet important details like how and where to get currency exchanged and the set up of local services like telephone and utilities.
With the real estate boom happening in Eastern Europe, it’s important to find an established company. When planning an overseas move, you’ll need someone with years of experience instead of someone just starting out in the property business.
By following these guidelines, you’ll be well on your way to a seamless and profitable real estate transaction. Whether you purchase property in Poland, homes in Russia or a Turkey villa, you may enjoy Eastern Europe so much that you make it your permanent home!
This islands nation has been the toast of the British investor for decades. Cyprus is, indeed, an attractive country as well as a popular real estate investment destination. With all year round sunshine, Cyprus rocks to the tunes of visitors from all over the world flocking in to this tiny Mediterranean island.
Moreover, there’s no such time as ‘lean period’ as regards to the influx of tourists in the country is concerned. Miles and miles of pristine beaches in the country ensure there is no shortage of activities to be indulged in by the visitors at any time of the year. Overall, Cyprus is like a pocket-sized dynamo for the real estate investors all across Europe.
Property Investment Opportunities in Cyprus
Since the country joined the European Union (EU) in 2004, the fortunes of Cyprus real estate are on an upswing. Not only with holiday-seekers, but second home buyers now are also flocking to the country mainly due to the excellent climate and large English-speaking population. Although Cypriot Greek is the preferred language here, the majority of people understand and speak English with considerable ease and as a bonus they also drive on the same side of the road as the UK.
Cyprus has no shortage of property investment opportunities all across the country. However, the hottest regions from the property investment point of view include property and areas like:
Apartments in Paphos,
Larnaca property
Limassol apartments
North Cyprus Property
and many more regions including Protaras, Kyrenia, and Famagusta. These places have witnessed maximum activity in terms of real estate transactions over the past few years. Investors have shown tremendous faith in these areas due to their potential to offer high returns. Moreover, these are either tourist spots or in proximity to the hotspots of the country. Therefore, you can easily expect a consistent rental income from vacation properties in these towns.
The prices of real estate in Cyprus are on a lower pedestal compared to the UK real estate prices. Apartments in Larnaca are available from £100K, and a separate dwelling (residential home) can be yours for £250K. The Paphos region is comparatively cheaper than Larnaca and Northern Cyprus has properties well below £50K.
The range of properties available for investment purposes in Cyprus include villas, mansions, residential homes, and holiday property. All of these properties are in great demand from the domestic as well as international investors. However, the membership of the EU brings in a large number of European investors into the countries real estate portfolio. Therefore, there’s an added incentive for British investors, having an opportunity to share the neighbourhood with fellow countrymen and other Europeans!
The rollicking property scenario in Cyprus is as much attributable to the long coastline as it is to the vine-blessed mountainous region, which is famous for its Cypriot wine. The country has a certain degree of historical significance also and you can visit the remnants of Roman and Greek civilization spread all across the country. The capital city of Nicosia is particularly popular among the real estate investors in Cyprus due to its ultra modern lifestyle and easy accessibility to the leading business and commercial centres in the country.
Cyprus is also a strategic base for several nations. This is the reason that Turkey is a part of the North Coast of the country. Though the area is disputed and awaiting settlement, it doesn’t flare up into any kind of violent turmoil. Peace despite serious situation here is also a contributing factor for the investors interest in the area.
Administrative Convenience in investing in Cyprus
The government of Cyprus is in an overdrive in order to promote property investment climate in the country. The laws, bylaws, rules and regulations concerning real estate in the country are already on an easing road. While investing in Cyprus, make sure you are always on the lookout for VAT-exempt properties and strike really outrageous bargains on some of the prime properties in the country. Banks and financial institutions are also trying their best to make loans more lucrative and accessible for small investors.
Cyprus follows common rules and principles for real estate investment that are adding to the English legal system. The understanding of the UK property laws come in handy if you are planning to invest in Cyprus.
Cyprus is in a developmental mode, and this gives rise to certain economic disparities in the country. Additionally, Cyprus has one of the lowest average salaries in Europe, which acts as a double-edged sword. On the one-hand, it brings lots of employment opportunities in the country, also, there is an ever-growing gulf between the rich and poor. Though poverty is not a very big issue at present, the government hopes to address it before it escalates out of hand.
Cyprus is considered to be one of the easiest countries to invest with not many hurdles for foreign investors. However, it will still be advisable if you hire a local attorney to handle all the legal and administrative paperwork in order to peacefully own and enjoy a Cypriot property.
Property Abroad’s directory Les Calvert writes interesting and useful articles on all subjects dealing with overseas property and buying property abroad. Checkout our property for sale in Cyprus as well as our Cyprus Mortgages and News Articles on Cyprus.
High mountains, deep inland lakes and a spectacular southern coastline of bays and beaches, plus sunny summers and mild winters, are just some of the reasons why Montenegro has become a holiday hotspot. Combine this with the fact that it occupies a key location for business, is attracting foreign investment, has a rapidly growing infrastructure and has been a sovereign state since 2006 upon its independence from Serbia and you have one of the world’s most intriguing emerging property markets.
Montenegro is aiming for EU membership in 2014, which will add to its attractiveness for buyers looking for investment properties or holiday-home ownership. There are no restrictions for foreigners wishing to buy property in Montenegro, other than land for development, and the buying process is relatively straightforward. Montenegro property prices and lawyers’ fees are low and there is no capital gains tax liability in Montenegro, all of which is helping to fuel the sector.
Montenegro is well served by airlines. Flights arrive at Podgorica and Tivat airports regularly from Europe and further afield, plus into Dubrovnik in Croatia, which is a drive of around 50 minutes across the border to Montenegro’s Bay of Kotor. Kotor, a fabulous old city that has been recognised as a UNESCO heritage site, and is one of the country’s most popular holiday hotspots, lies on the banks of the bay.
Much of the new development is taking place around Kotor and already there are reports of property increasing by as much as 100% over the past year or so, with the potential for further capital growth being maintained, plus excellent rental returns being achieved through holiday home rentals.
“Montenegro property offers an excellent investment opportunity,” says Glenda Lazare, managing director of Key Universal, an overseas investment specialist company. “The country has a burgeoning tourist industry, bolstered by the government’s Tourism Masterplan 2007-2020, which aims to develop high-end hotels, golf courses and other luxury facilities in order to attract affluent tourists.”
Key Universal is currently marketing Kotor Apartments in Dobrota on the fringes of Kotor. A boutique residence of just ten two and three bedroom contemporary apartments offering stunning sea and mountain views, and a specification that includes parquet flooring, granite staircases and fitted kitchens and bathrooms, the development is ideal for investors looking for exclusive holiday-home rental opportunities, says Lazare.
The complex will have landscaped gardens, a pool and parking spaces. Key Universal has negotiated a special deal direct with the developers and prices for the upmarket apartments will start at €154,880 (£124,000), with a 30 per cent deposit and 70 per cent payable on completion. “The rugged beauty of Montenegro continues to attract high-profile visitors, including Michael Douglas, Catherine Zeta Jones, Madonna and The Rolling Stones,” adds Lazare. “It is being tipped as the next Monte Carlo.”
Other companies marketing in the Kotor area include Europe Property Plus, which is offering Dobrota Heights, a brand-new luxury collection of apartments from around €225,000 (£180,000), and Rosco Properties that has off-plan apartments at Herceg Novi-Igalo from €142,00 (£114,000) and homes with sea views at Baosici from €144,000 (£115,500), plus small resale houses in need of modernisation from around €50,000 (£40,000).
David Stanley Redfern is offering Acacia Hills Apartments, a collection of one-, two- and three- bedroom homes at Herceg Novi, near Djenovici, overlooking the bay. The use of natural materials has been a key feature of the design. Prices are from €103,000 (£82,600). “Acacia Hills offers an excellent investment opportunity in an area that is seeing one of the fastest growing tourism markets in the world,” says David Redfern, managing director of David Stanley Redfern. “Prices for these off-plan apartments are extremely competitive and we expect to see buyers realising capital increases of at least double in the next three or so years, combined with achievable rentals of around eight per cent.”
Other popular holiday hotspots in Montenegro include Sveti Stefan and Bar, which are further south along the coast, plus the historic stronghold town of Budva, where life revolves around its elegant marina and harbour. “Budva real estate and the property market in this area have become very active recently, especially with Russian investors who know the area from holidays and need no visa to visit,” says Alex Mark Moller, who is marketing the Budva Hill Resort in Budva.
“Foreign investors are interested in Budva properties because of the capital growth potential and the return of investment. We have already sold around half off-plan and are confident we will have sold all apartments when the development is complete in 2010.” The Budva Hill Resort, says Moller, will be a landmark development of one- and two-bedroom apartments in the area, offering top notch features and luxurious living. “There is a shortage of luxury resorts in the area,” he adds. “The apartments will lie on a slope offering fantastic views of the Adriatic Sea.”
Buying Montenegro property is straightforward. If buying a resale Montenegro property then a deposit of ten per cent will be required to secure the property, but if buying off-plan Montenegro property then an initial deposit followed by stage payments will be required. Montenegro property buyers are advised to appoint a local solicitor and get all documents officially translated and stamped in court. Also, ensure you check the person you’re buying from has the correct title deed ownership. After that, Montenegro property ownership should be plain sailing and lots of fun.
Our first stop at Brazil is Recife. It is not too far south of the Equator. The town seems relatively poor. We saw beggars and homeless person everywhere. But hey, the prices of Recife Brazil real estate purchase properties is cheap. For example, a nice modern two bedroom 600 sq2 apartment near a beautiful beach could normally sell for around US $17000 while a three bedroom 1100 sq2 apartment could cost around US$ 44000 while a luxury villa complete with a nice beachfront and pool could be worth US $ 150000. The price of buying a property in Recife would be a mere fraction that you would spend if you were in the US or in Europe. Property taxes are also cheaper in Recife with an average of US$ 150 to $350 per annum, depending on the value of the real estate property. Add that to cheap residential insurance that runs from $50 to $100 annually and the cheap utilities monthly expense of $45 to $80 that already includes electricity, water, gas and telephone bills.
With its GDP growth currently standing at around 8-10 per cent per annum representing outstanding economic progress over the last few years, combined with the strength of its domestic property market that offers investors good potential for capital appreciation, Slovakia currently has some of the best prospects for property investment in Europe. It has one of the largest car production levels per capita in the world and, because it is outperforming many of its neighbours economically, is attracting foreign investment from individuals and companies with a keen eye on the Central European market too.
Add to that the suggestion of higher increases in foreign trade as the country enters the euro monetary system in January, hence leading to a further boost of GDP growth and prosperity of the population, plus the fact that its tourism industry is gaining in momentum and with it the increased potential for rental opportunities, then Slovakia’s property market is looking healthier then ever. Property hotspots include the High Tatras and the Low Tatras, as well as cities such as Bratislava and Kosice, and towns like the historic Banska Stiavnica in central Slovakia.
Petra Gajdosikova, of Slovakia Investment Property, says, “Along with strong capital appreciation of around 15-20 per cent per annum in most areas, investors in Slovakia benefit from the ease of resale to the domestic home buyers who are the vast majority of buyers of Slovak property.” Slovakia has not suffered any consequences of the global credit crunch, says Petra. “In fact, Slovak banks have had their best year yet in 2007 due to the high growth in mortgage finance which is steadily increasing in popularity among local home buyers.”
Slovakia Investment Properties is currently marketing Velka Lomnica, a new holiday development in the High Tatras, a current property hotspot. Close to an 18-hole golf course and a planned aquapark, it offers two tennis courts, a restaurant, gym and relaxation centre. Prices start at around £78,000. “The properties are ideal as a holiday home or as a high growth investment suitable for lets,” adds Petra.
Finding property in Slovakia for under £80,000 is getting harder, however, especially if a new build is preferred or a property in one of the country’s city or holiday resort hotspots. Not only have prices been growing steadily on the back of the extremely high demand from local home buyers, but the Slovak koruna (SKK) has also appreciated by almost 50 per cent against the sterling pound over the last few years.
One area that is seeing property development at keen prices is in the Tetras Mountain range, a UNESCO world heritage site that forms a natural border between Slovakia and its neighbour Poland. A popular spot with holidaying visitors because of its beauty, its landscape ideal for hiking or skiing, and its amenities that include spas and golf courses, it is attracting Slovakian and foreign buyers keen to purchase holiday homes, investment property and, in some cases, villas or apartments for relocation.
The Tetras Mountain area retains an exclusive feel because of the limit on construction. The number of homes are closely monitored to avoid an over supply, which in turn makes property much sought-after. The area is popular with Slovak society, as well as tourists. Poprad airport is close by with regular flights from London and other cities around Europe.
Property Frontiers is currently marketing Silver Resort in the High Tetras, which is located right on the edge of the Tetra National Park and include studios from around €78,400 (approximately £63,000), one- to three-bedroom apartments from around €118,000 (£92,000) and four bedroom villas of 175 square metres in size with a price tag of close to €495,000 (£388,000). With guaranteed five to six per cent rental options available, the development is attracting investors as well as holiday home purchasers and even those looking for a very different way of life.
Caron Lockwood of Property Frontiers feels Slovakia is good for investment, and developments like Silver Resort are particularly appealing to investors. “We have an exclusive payment schedule of 10 per cent down and 90 per cent on completion for a small number of units at Silver Resort,” explains Caron. She says the scheme has worked well for investors. “Buyers can obtain 90 per cent LTV mortgages in Slovakia which means this requires a really low cash input.”
Slovakia’s cities are seeing buoyant market activity too. Prices remain highly competitive and, in turn, capital growth is expected to be impressive over the next year or so. Specialist company Property Secrets is currently marketing two select apartment developments, one in Bratislava and the other Kosice. Prices are to be announced shortly. Emma Bell of Property Secrets is delighted by the response to the two projects so far and expects interest to be high.
“The new landmark development in the emerging Mlynska Dolina district of Slovakia’s dynamic capital Bratislava,” says Emma, “is in a pivotal location less than a half kilometres from the new Vienna to Bratislava motorway.” Its apartments are being offered on 15/85 per cent payment terms. “One of the best available in Slovakia,” adds Emma.
The company’s luxury apartment and office development called Brewery Cassovar in the centre of Kosice has a high specification and is minutes walk from the Old Town part of the city. The airport is around 20 minutes drive. “We predict 48 per cent capital growth on these apartments before completion in 20 month’s time,” says Emma.
With the adoption of the euro now assured, a healthy economy and an increasingly buoyant tourism sector, Slovakia is emerging as one of the success stories of the recent Central European expansion.
Carole French for Homes Overseas ? Find that perfect Slovakia property with the Overseas property experts since 1965
www.eupropertyfinder.com 60 % profits in 6 months in Eastern Europe’s top property hotspot-Romania. A property market growing by 25% a year, with supply considerably over stripping demand. Novicio Residence combines capital growth, flexibility and a relaxed way of living. The location: Ploiesti. Why? Because rents have doubled in the past few months due to a high demand for houses, because it’s near the biggest skiing resorts in the country and next to a beautiful vineyard in the Big Hills. As many Romanians own there own homes from communist times and property prices have swelled people are moving up to newer and more luxurious apartments and residential housing units.
The entire south coast of Spain is known as Andalucia, which is one of the largest regions of Spain. As Andalucia has the Mediterranean Sea to its south and the Atlantic Ocean to its west, it has great beaches, weather, and is a natural attraction for vacationers. The region (especially along the Mediterranean Sea) has been developed since the fifties as a tourist resort and Costa del Sol is the most famous and visited during the holiday season. There are castles, mansions, cave houses, villas and apartments that are up for sale in Andalucia. Some are new and some would require complete rebuilding. There is also a selection of open land on which one can undertake their own construction. Of course, purchasing property in Andalucia (or in fact anywhere) depends on two factors. What type of place is required, and the second is the amount that could be spent on purchasing the property. Properties that lie in the tourist spots in Andalucia are pricier than properties that are located further away from them, or on the other coasts.
The prized and hottest properties are the villas and apartments in Costa del Sol, and especially those that are a walking distance from the beach. Properties located near Torremolinos, Marbella, Malaga and Nerja, which are some of Europe’s top resorts, are pricier then those located further inland. The properties further inland in Andalucia are cheaper, but then the temperatures in summers stays above 400 Celsius during the summer. Seville, the capital of Andalucia, is one of the hottest cities in Europe.
Property in Andalucia ranges from 50000 euros to millions of euros, so it depends what is being looked for. A villa with a private swimming pool and all modern amenities would be quite expensive if it is located in the tourist resort belt. Similarly, an exclusive apartment (and there are quite a few high rises here) would also be quite expensive. There are hardly any open spaces left at the main tourist spots for sale, and most open spots that are for sale are located further inland. For avid golfers there are villas, town houses and apartments close to golf courses, which are also exclusive and pricy.
Malaga is the capital of Costa del Sol, and one of the liveliest towns with an airport where over 2 million visitors land annually. Property in Malaga is also expensive and exclusive.
There are a number of new areas that are being developed in Andalucia as tourist resorts, and developers are busy building these. These properties are also among the hottest properties in Andalucia right now.
Finding Andalucian property for sale is not an issue, as there are properties ranging from exclusive to moderate available over here. Right now, investing in Andalucia property is becoming very attractive as the world wide financial crunch has not affected property values here. Some people wishing to make money have put their investments in property here. If the property purchased is brand new, then above the charges for attorney, transfer of deed and so on, an additional 7% will have to be paid as VAT.
Andalucian Dream Homes offer exclusive deals to real estate investors looking to buy Andalucian property for sale. These are prime vacation properties situated on the Southern coast of Spain.
