This month the British Embassy in Spain has urged UK property investors to seek proper legal advice before buying a house in the country. As investors rush to snap up properties at bargain basement prices, it is more important than ever to consider the quality of the development they are investing, according to ipsbmv.com.
Jon Ainge Director of ipsbmv.com commented:
"It is clear that some buyers in Spain are trying to cut corners simply to save money. Some are even buying off-plan which in the current market isn't advisable. The old adage if you buy cheap you buy twice should may apply to a lot of new developments in Spain at the moment.
"Before buying, investors should do their research on the market and if they are hoping to make money from tenants, then it is common sense to choose a quality development close to areas where there is demand.
"These can be more expensive but worth it in the long run and you are less likely to fall victim to what amount to scams."
IPSBMV.com are keen to urge investors that they should approach investing in Spanish property with caution and make sure they use a reputable agent or developer. An agent with experience in the Spanish market can be invaluable and provide the necessary knowledge to make the process of investing a smooth one.
The investment company are also keen to point out that in their experience most British property investors benefit from a long holiday rental season when investing in good quality developments in prime areas and encounter few if any problems.
