98% of Spanish development sold out despite credit crunch

With a major credit crunch, soaring fuel bills, job losses and the prospect of a winter of discontent just around the corner, headline reading hasn’t been easy on the eye for anyone in recent months and overseas property developments have been one of the hardest hit in these penny pinching times. So why is one development close to Marbella being backed by one of Spain’s largest banks, offering 100% mortgages and already 98% sold out? Surely this goes against the grain?

Mark Bingham Managing Director of Owner Invest said, “Times have changed and investors have had to adapt to the current financial climate. Lifestyle property investments have undoubtedly been hit hardest with many investors unable or unwilling to sink their hard earned money into what is sure to be a long term investment, with little or no chance of seeing any real capital appreciation and no clear exit strategy. The real winners have been buy to let developments offering personal yearly usage as the investor benefits from the best of both worlds. It’s a case of quality developments in sought after locations coupled with a high rental yield. Of course if you can also get a major bank to offer a 100% mortgage in the current climate, you know you are on a winner as banks do not gamble with their own money!”

Owner Invest are now in the final stages of marketing the phenomenally successful Marbella Royal Suites which to date is already 98% sold out. Marbella Royal Suites is close to the idyllic village of Benahavis on Spain’s Costa del Sol. Ideally situated on the doorstep of El Paraiso golf course and easily accessible to Marbella, it brings to the market a selection of one, two and three bedroom ‘turnkey’ apartments. The emphasis is on luxury and the impressive facilities include swimming pools, fitness centre, landscaped gardens, business facilities and 24 hour security.

Backed by Spain’s third largest bank, Banesto, this five star investment opportunity is currently 30% below the official bank valuation with an anticipated ROI of at least 12%. Via a 7 year leaseback scheme, owners will earn 50% (anticipated £10k per annum) of ‘pooled’ income generated by the suites and also enjoy up to 56 days personal usage each year.

Prices at Marbella Royal Suites start from just £99,000.

For more information, visit ownerinvest.com