This is a unique property opportunity
to get involved in off-plan property at the very beginning.
A well established and proven developer in the Valencia
region has a plot of land 7,500 m2, frontline
beach in an area called Piles.(pronounced peelas)
Planning permission can be obtained for this land without
problem and the plot has been assessed to be able to house
80-100 2Bed/2Bath units and there will be the usual communal
pool, gardens, garages etc.
He is currently searching for investors that would like
to join forces with him at the conception of the development.
The developer will commence the project once he has reservations
for 80-100 units.
Valencia is of particular interest to everyone at the moment
because of the up and coming events that are to occur there.
2007 The Americas Cup http://www.americascupnews.com/
2008 the World Athletics http://www.iaaf.org/news/Kind=512/newsId=32580.html
Currently, the average price for a “2bed/2Bath, (not
frontline) is between €240,000
and €270,000
The developer is offering reservations on these apartments
for only €175,000, but due to the popularity of Valencia,
only has about 50 available unit reservations remaining.
The contract requires a 30% initial investment comprising
of a €6,000 (£4,168) immediate deposit per unit
to be lodged into the lawyers Escrow account and proof of
funds for the balance of the 30% €46,500 (£32,306).
Once he has reached the target 80-100 units, planning
permissions will be obtained. The reason for not obtaining
permissions prior to the offering the units, is that the
value of the land will increase dramatically once these
have been obtained. There is of course the usual clause
providing for the investor with a return of all monies deposited
should permissions be refused.
The value on today’s
market of these units would already be in the region of
€275,000 to €280,000.
However, resale of these units is possible as soon
as the building licences have been acquired and we would
advise that the investors offer up these units to our partners
the SL Group for resale at this time and for a price in
the region of €230,000 to €250,000.
This would in effect allow a period of two years,
before balance payment would be required, to resell a unit
at under the market price. In reality the unit should be
sold as soon as the permissions are granted, therefore enabling
a quicker profit.
Any investor taking part in this project, should
expect to double his money within a 6 month period.
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