Spanish Property Insight › Forums › Spanish Property Forums › Spanish Real Estate Chatter › What’s going on in the off-plan investor market? › Reply To: What’s going on in the off-plan investor market?
Speaking from the Costa del Sol, I’d be interested to hear of any investors that managed to sell on before completion for a worthwhile profit – I’ve never met one who did, even going back a few years. The agents generally make twice the commission selling off plan over resale so aren’t likely to push the resales.
That’s not to say everyone has lost, many have been able to sell on after completion but if a mortgage etc. was involved those costs will have cut hard into the profits. Some have turned to renting, and in some areas are making a tidy annual income from this but in many other areas the rentals market is now pretty saturated, and the investor has an unwanted second home in the sun whether he likes it or not.
I myself bought off-plan here some five years ago and have done very nicely out of it – but my idea was to buy a home, not an investment.