The Phoenix 01.04

The Phoenix Magazine
30th January 2004

Tom McGrath, for legal advice on all your property deals
Provided that the purchaser looks for what they want, there are opportunities to be availed of. Before paying over any money by way of deposit, they should seek professional advice.

Beware of construction deadlines on new developments. Be sure to get an approximate date of handing over ownership and keys. The official licences issued to the developer can sustain delays due to building irregularities. This can cause a delay and the purchaser often ends up waiting for up to a year to get the keys to their new property.

There are still some bargains to be found in Spain if the potential purchaser takes some time checking what's on the market. Investors are staying away from the most popular resorts and moving towards Almeria, Murcia and Valencia. These regions are only starting to get the attention of foreign investors and the price of property there tends to be substantially lower than in the Costa del Sol.