From my experience here on the Costa del Sol for the last seven years is it has always been a good time to self build but close attention needs to paid to the internal build out specfication to keep costs down. The pricing system for building here is not very flexible when changes are made from the original quote which can lead to major price increases.

I can confirm building prices being used on our current building projects are lower than a year ago but the biggest problem is the avaibility of good plots in good locations. By the sounds of it your plot problem has been solved.

I agree with Paul do not let a good plot be picked up by a ‘vulture’ investor’ and you lose
out.

Regards
Philip, PSI-Properties, Surveys & Inspections

I was very interested to read your comments on the Mark Stucklin blog as I can quite confidently confirm that construction prices have indeed come down significantly over the last 3/4 years. I know this to be the case as I am regularly going to tender on behalf of clients and can clearly see the sizeable reductions in both material and labour costs. Furthermore the cost of construction finance is significantly cheaper than it was several years ago and certain banks will lend 100% of build costs thus negating the impact of the poor Euro exchange rate.

In fact I have recently contributed to several articles emphasising exactly why now is the ideal time to self build i.e low cost of land, lower construction costs, lower interests rates etc etc. I believe that for many clients sitting on undeveloped plots, the only way to see value from that investment is to build. Otherwise you are left sitting on an investment with no yield in a flat market which will prove very difficult to sell on as the banks will not currently lend against land. Also why not build now and take advantage of the favourable conditions before the inevitable upturn arrives and the constructors have more work on and the cost of borrowing is higher.

Although I haven’t seen either of your quotes I can only assume that you were either quoted too high on the 1st instance or, more unlikely, the builder you have returned to either does not need or want the job! Either way, I would be happy to get the project requoted for you.

I have attached photos of the house I have just constructed in El Madroñal which proves that I have put my money where my mouth is…I have also just started on the project design for the other plot I have in Monte Mayor. (please read more on pages 54-60 of the March issue of Essential magazine) http://www.essentialmagazine.com

Please let me know if I can do anything else to help as I would much rather see you build out on that fantastic plot rather than see some ‘vulture’ investor pick it up for below market value and reap all of the rewards.

Regards
Paul Rossiter, MD, Carrington Estates