The most exciting investment opportunity in Europe today bank repossessions in the Costa Del Sol.
A number of factors have contributed to the new availability of fantastic bargains in land, residential and commercial property due to repossession by banks.
- Over supply in the market of new apartments due to massive demand until the recent slowdown.
- The credit crunch meaning that money owed by developers is demanded back very quickly leading to developers being forced to sell simply to cover the money owed and this often bears no relationship to the banks valuation.
- The fall in the value of the UK pound against the euro forcing increasing numbers to default on mortgages
- Confidence in the property market rocked by corruption in Spanish Town halls.
Beware of the sleazy unregulated estate agents targeting foreigners in Spain. These disreputable, high commission sales people are offering their potential clients so called 'quality bank repossessions'. These are generally those lists of over priced, unattractive properties available to anyone walking into any Spanish bank or their own clients poor quality or illegally built 'distressed properties'.
We are not estate agents and have direct access to the courts and senior Spanish bank officials. We deal only with properties which are sought after and are sold on a discrete basis through the Spanish legal system and thus are never directly advertised or offered to estate agents.
This unique set of circumstances has meant the sudden availability to investors of property at far below bank valuations. The investment profile of the Costa Del Sol is genuine and with the popularity of the area due to cash rich Russian buyers, the finite coastal land development area and deteriorating social conditions in Northern Europe encouraging retirees.
The area will always have high demand from retirees and holiday home owners. A bank repossession in Spain is the perfect way to avoid dealing with sleazy self-serving estate agents and their exorbitant commissions.The good news is that all of the negative market factors that caused the sharp decrease in values are temporary. The Spanish government is now in the process of knocking down illegally built properties and tightening up on planning therefore decreasing supply of property in a market with expanding demand.
Availability and Demand
The main thing to note about these investments are the following:
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VERY IMPORTANT
The banks do not issue details of repossessions to the general public and provide us with very scant information on the property or land that has repossessed. Therefore no specific properties are listed on this site as this is illegal. - We are disallowed from publicly publishing any details whatsoever on these properties.
- Large financial institutions snap a great deal of these properties up as soon they become available so it is important to be able to move quickly without seeing the property.
- You are buying property that has been granted a mortgage by a bank and therefore the bank has already made the checks on its legality.
