The Opportunity. To a cunning investor now provides an excellent time to buy. Many of these distressed non completed properties can be discounted by the original paid deposit and in many cases even a further discount, via the development company or the original distressed off-plan investor. In many cases this could mean the new buyer paying nothing as the original off-plan investors deposit can be used as the mortgage deposit. Over the next three to five years the properties will be sold, people will move in and start to use them as holiday homes or permanent residences and the developments will look like the luxury resorts that were first envisaged. The people that will benefit will be the investors and end users who can see what the future holds and enter the market now when there are some great opportunities. It is the people that buy low and sell high that always make money.
EXAMPLE Retail off-plan sold price
€418,000.
Original clients deposit 30%
€125,400
Further discount 5%
€20,900
Net purchase price
€271,700
A saving of
€
146,300
This is an example based on a known development of two bed apartments with direct access to the beach on the Costa del Sol
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