Investment Property Abroad

For most people buying, selling, letting and renting their property can be a nightmare as well as being a very expensive experience.  Using a low cost fixed fee Estate Agency Network alleviates all of these fears and saves you thousands on what is usually a straightforward transaction.  Bringing like minded people together on one site, keeping them in touch every step of the way and reducing their outlay is what dwood-property.com is all about.  The brainchild of David Wood, a well respected Estate Agent fully conversant with all aspects of the property world, including throughout the Canary Islands and Cape Verde, it is the accumulation of the need for a good service for a fair price.

The Canary Islands (Atlantic) and the Balearic Islands (Mediterranean) are famous throughout the world for their amazing beaches and climate, excellent club scenes and spectacularly diverse natural landscapes.

The two archipelagos are vastly different from each other. While the Canaries offer year round sunshine and warmth, the Balearic Islands get the same kind of climate as the mainland. The Canary Islands are known for their surreal volcanic landscapes, endless sandy beaches, lush green forests and warm Atlantic waters.

Think of the Balearics and you’ll probably immediately think of Ibiza’s legendary club scene, the island’s rugged Mediterranean beauty, Formentera’s paradise beaches along with endless yachts, glamour and wealth. As you can imagine, property Prices are significantly lower in the Canaries.

The Balearic Islands
The Balearic Islands are located off the East coast of Spain, across from Valencia and are characterised by many pretty bays, caves and capes. There’s four islands in total – Mallorca, Ibiza, Menorca and Formentera.

Formentera, one of the smaller islands has some of the best beaches in Spain; idyllic stretches of fine white sand with crystal clear blue waters.

Northern Mallorca has a rugged beauty unmatched anywhere else in the archipelago, while Ibiza has matured from the clubbing capital of Europe to one of the world’s hottest festival venues and chilled-out Menorca provides families with a small and gentle island enclave.

Ibiza is probably the best known of the Balearic Islands – famous for its frenzied and decadent club scene, which exploded during the nineties, attracting some of the world’s top DJ’s to the island’s mega clubs like Pacha, Maumission, Space and Es Paradis. The most vibrant nightlife can be found in San Antonia and Ibiza town.

It’s not all just clubbing though. Apart from having a thriving gay scene, Ibiza is a great place to go during the deserted winter months. It’s the perfect getaway – Isolated and peaceful with plenty of space and light; a vast contrast to the hectic summer months.

Menorca, located close by, produces an excellent gin, which locals drink with bitter lemon. The capital, called “Maó” is where they originally created Mayonnaise.

Ibiza and the rest of the Balearics have had a well-established property market for many years, attracting countless affluent Northern European and Spanish investors. This is where you’ll find some of the most extravagant villas in Spain – some of which run into the millions.

The Canary Islands
The Canary Islands, most notably Tenerife, Lanzarote and Gran Canaria, are equally as known and popular as the Balearics – although for different reasons.

Apart from their vastly diverse natural landscapes, the Canaries are Europe’s only real tropical paradise, offering guaranteed sunshine and a warm balmy climate all year long.

Volcanic in nature, they boast some truly Spectacular scenery with massive craters, huge volcanic rocks, formidable cliffs (Los Gigantes) and Spain’s tallest mountain peak (Mount Teide).

The average air temperature on the Canary Islands ranges from a comfortable 18ºC to a cosy 24º C all throughout the year. Even the water stays warm, – hovering between 22º C in summer and 19º C in winter. It’s a true sun and sea-worshiper’s paradise.

Canary V Balearic Property Prices
If you’re looking for an apartment on say Menorca, expect to pay at least €200,000. In Ibiza and Mallorca, prices start at least €300,000. Villas start at €400,000 and go very much upwards. (www.timesonline.co.uk)

The Canaries are a different story. Apartments start at around €90,000. A small detached property can be had for just €240,000-ish.

For buy-to-let investors, the Canaries offer year round rental yields because of the consistently hot and sunny climate.

Tenerife New Developments
Here’s a few examples of what you’re likely to find online…

Caleta Palms, La Caleta
Sales Price From : €445.000
Sales Price To : €890.000
Sales Price From : £313.377
Sales Price To : £626.755
Location : La Caleta, Tenerife

Island Golf Villas, Amarilla
Sales Price From : €472.000
Sales Price To : €657.000
Sales Price From : £332.391
Sales Price To : £462.672
Location : Amarilla Golf, Tenerife

According to Holidayrentals.co.uk, one of the leading web portals for property rentals throughout the globe, Europe remains a firm favourite with UK property investors. Up to 90% of all property purchased abroad by UK buyers is in Europe.

Despite the allure of far-off destinations like the Caribbean, Asia and the USA, British investors still prefer to invest closer to home.

Investing in Europe
UK investors and homebuyers are mostly choosing traditional locations like France, Spain, Portugal and Italy. They’re safe options for investors with well-established markets and proven potential. Homebuyers are attracted by the large expat communities, schooling facilities, climate and close proximity to the UK, amongst other things.

With the opening up of the EU, Eastern Europe has been put firmly on the map in terms of property investment potential. You can find properties here at a fraction of what you’d pay in the more established markets.

The proliferation of budget airlines offering very cheap fares to more and more European destinations has greatly helped these emerging markets.

Although these new markets offer very good value for money in terms of price, it’s not yet fully known if they have the same rental potential as the more traditional markets or if they’ll build the same number of expat communities.

Once War-torn, Croatia has emerged from its troubled past and gone on to become one of the most sought after investment areas of this year. This beautiful country with its stunning beaches, is very popular amongst British buyers, Istria, in particular.

Located on the very west part of Croatia, Istria is the largest peninsula on the country. It’s the most expensive part of the Croatia with a high proportion of new developments and new-build properties. That said, you can still easily find many Croatian houses in the coastal towns and villages traditional available for renovation.

Montenegro, one of the lesser-known investment areas has seen unprecedented growth. This lush green mountainous region, bordering on the Adriatic, is one of this year’s star performers. According to the Property Rentals website, there’s been an increase of 113% in rented property between since 2006.

Also known as the “Pearl of the Mediterranean” Montenegro covers 5,333 square miles (13,812 square kilometers) and is largely covered in thick forests with a narrow strip of land lying along the Adriatic Sea. In winter it gets a lot of snow and in summer it’s warm in the valleys.

Montenegro is renowned for its idyllic lakes, mountainous terrain and endless lush green valleys that lead down to the clear blue waters of the Adriatic Sea.

Property prices here vary dramatically from one region to the next – the coast is the most expensive region. But for those willing to go further inland, to say Lake Skadar, the old Royal Capital of Cetinje, they’ll find property up to 200%! Cheaper.

Top winter Sun Destinations – The Canary & Cape Verde Islands
If you’re looking for guaranteed sunshine and genuine warmth but don’t want to spend over ten hours in an airplane, the place to go this winter is the Canary Islands or Cape Verde, just one hour south.

Although mainland Spain is often promoted as a top winter sun destination, unless you want to go skiing, it’s not really. It’s certainly sunnier than the UK but can get very cold.

Any expat will tell you that Spain ranges from chilly in the winter to what feels like freezing. Along the coast you get strong wind chill and inland and on higher ground, the temperatures drop significantly.

The Canaries and Cape Verde are a different story altogether. Located off the north west coast of Africa, both have a very mild climate that remains constant throughout the year.

Known as the “Islands of Eternal Springtime”, the Canaries have an ideal climate where it’s never too hot and never too cold. The Cape Verde Islands are just few degrees warmer.

Tenerife, one of the most popular of the Canary Islands, is an ideal winter sun destination – an island of fascinating contrasts with something for both young and old. It also has excellent year-round rental potential for anyone considering investing on the island. Click the following for more information about – Tenerife property.

According to the World Wide Fund For Nature “each average golf course uses up as much water as a medium sized town with about 12,000 inhabitants”.

In Spain, developers and planning authorities have come under massive pressure to prevent further environmental damage caused by the creation of new courses both on the mainland and on the archipelago. There is likely to become huge demand for golf properties as become increasingly harder to find.

The advice for anyone, according to Kyero.com, is if you have your heart set on that dream villa or luxury apartment set amidst those pristine green fairways, now is the time to move. You should invest as soon as possible before there’s none left.

Water Issues
Building newer, better, bigger and more lush golf courses uses a fantastic amount of water – water that Spain simply can’t afford to use.

Andalucia, one of the most popular golfing destinations, in Spain, has had a drought every year for the last four years. This is where the water crisis is at its worst.

The government can’t overlook the facts for much longer. And with increasing pressure from various groups against the further development of golfing resorts, they’ll have to eventually do something.

Development issues
Overdevelopment has been a major factor in Spain’s recent property crash. Many people believe that developers are building more courses as an excuse to build more and more golf properties.

People are even choosing to buy golf based properties because they know they have guaranteed views of lush green landscapes instead of more homes, a motorway or perhaps even a high-rise building.

The Environment
“Developing a golf course entails the clearing of vegetation, cutting forests and creating artificial landscapes, which lead to land erosion and block the soil’s ability to retain water” – See full article here.

Although one can certainly see the appeal of owning a luxurious golf property in sunny Spain, it would be short-sighted, however, to downplay the very real environmental issues that the creation of theses courses and surrounding properties cause.

The only environmentally sound advice for any potential golf property investors is to invest quickly…in an already built golf development.

Long Term Investing
If the environmental lobbyists get their way and prevent the future construction of golf courses, investors should be looking to buy now, rent out the property and hold onto it for the long term.

In the coming years, with demand greatly increasing supply, the property should accumulate generous capital appreciation after providing consistently high rental yields.

Golf in The Canaries
The Canary Islands are a golfer’s paradise – with endless blue skies and a spectacularly diverse range of landscapes.

Tenerife is home to some of the best courses in the archipelago, including: Abama, Amarilla Golf, Centro de Golf Los Palos, Golf Costa Adeje and Golf del Sur.

Investing in Tenerife
Tenerife Property has always been in big demand, especially golf properties. Click here to find the latest Tenerife new developments.

Tenerife has a perfect year round climate with temperatures rarely dropping below 63°F (17°C) and more often above 82°F (28°C) during the day. Buy-to-let investors can rent out their properties all year round at peak season prices. Investors who have bought property on a golf course can generally command much higher rental incomes than from normal properties.

Click here to find all latest properties available on this – the “Island of Eternal Springtime”.

The Canary Islands are unquestionably one of the most delightful places in the whole of Spain for a round of golf. Although tour operators like to sell mainland Spain as a year round hot and sunny location, quite frankly it’s not. Even on the Costa del Sol or “Costa Del Golf” as it’s known, it can get incredibly cold in winter.

The Canary Islands, on the other hand boast year round sunshine and genuine warmth right throughout the year – winter, spring, summer and autumn. And with some of the finest courses in the country, it’s no wonder these “Fortunate Isles” are described as a golfer’s paradise.

Some of Spain’s most prestigious golf schools are located here on the Canaries. They provide expert tuition for both beginners and advanced.

What easier way to improve your swing – with professional instructors, on breathtaking courses, under endless blue skies, in just shorts and a t-shirt.

Golf accommodation in the Canaries is always easy to find. The standards are exceptional – the highest of quality with everything you could possible need for the perfect golfing holiday. There are numerous accommodation options to choose from, whether you’re looking for hotel accommodation close the course or a luxury villa right on the course.

Background
The Canaries are a group of Spanish Islands located off the northwest coast of Africa. These island paradises are known the world over for their amazing beaches, perfect climate, volcanic landscapes, vibrant nightlife, easy lifestyle and (of course) excellent golf courses and playing conditions.

All the islands are vastly different from each other; from the lush green forests of La Gomera to the endless deserts of Fuerteventura. This is what makes playing here so unique.

On Tenerife, you can play golf beneath the staggering peak of Mount Teide – Spain’s highest mountain peak. On Lanzarote, the courses are set amongst the red Martian-like landscape that the island is famous for. Playing golf in the Canaries is like nowhere else on earth – literally.

Golf in Fuerteventura
Golf is still quite new to Fuerteventura. The first course (Caleta De Fuste) only opened as recently as 2002. Since then, this PGA Championship course has gone on to hold the Spanish Open.

The golf market is an important sector in the islands economy, bringing in revenue through golf property acquisitions and tourism. Golf is growing steadily on Fuerteventura. There are now five world-class courses on the island.

Golf Courses
Caleta De Fuste
Caleta De Fuste (the island’s first course) was opened in 2002. It’s located in the east of the island, just eight kms from the airport. The Spanish Open was held here in 2004 and it put Fuerteventura firmly on the map as one of Spain’s most important golfing destinations.

La Oliva Golf
This course is located in the north of the island, just four kms outside of Corralejo. When opened it will be the fourth and newest course in Fuerteventura. They expect to open in late 2008 or early 2009.

Golf Resort Salinas de Antigua
Salinas was designed by twice world champion Manuel Piñero. It comprises 18 holes and has a maximum distance of 5,395 metres for men and 4,690 for ladies.

Jandia Golf course
Located in the south of the island, Jandia was the third course to be opened – just at the start of this year (2007).
 The course covers 335,086 square meters and designed by Ron Kirby. It’s a par 72 nestled amidst Fuerteventura’s surreal desert-like landscape.

Playitas Golf
This 18-hole course is still under construction. It’s set on a slope that travels all the way down to the Atlantic Ocean, offering superb views. It’s a tough par 70 course that will present many exiting challenges from start to finish.

Buy-to-let Investing (Fuerteventura)
Compared to properties in standard developments, golf properties can offer significantly higher rental yields.

If you own a high standard property, be it a villa or an apartment, on a golf course, you can command rental fees way above your average property. And in Fuerteventura, with its perfect year round climate you can charge this premium at any stage of the year.

Many golf developments throughout the Canary Islands offer rental schemes where the company looks after the whole renting process for you, from start to finish.

Alternatively, you can choose to advertise the property yourself over the Internet. There are plenty of sites available, all offering varying levels of service, from simple on-line bookings to actual key-handovers and cleaning.

From the snow capped peaks of Mount Teide to the
volcanic desolation of Timanfaya and the lush green jungles of La Gomera’s Garajonay, the Canary Islands are immensely diverse with brilliant contrasts in both land and climate.

The Canary Islands are located in the Atlantic Ocean off the north coast of Africa. They make up seven large islands: Tenerife, Fuerteventura, Gran Canaria, Lanzarote, La Palma, la Gomera and el Hierro, and other smaller ones, like as Graciosa, Alegranza and Lobos.

Ever since the 18th century, scholars from all over the world have been attracted to the Canary Islands. With such a large number of ecological gems on the Islands, one can understand why.

The Canaries have become a nature lover’s paradise, bringing in hundreds of thousands of eco-friendly visitors every year. They come to witness the unique species of flora and fauna living side by side amongst the fascinating landscape.

The islands are incredibly different from each other and within each individual island the scenery can change tremendously from one minuete to the next. It really is impossible to talk about a “typical” Canary Island landscape.

Canarian Topography
The Canaries are famous for their surreal and spectacular volcanic scenery, Lanzarote most notably. The islands have been dramatically shaped by their volcanic past. What’s left today is some very peculiar landscapes with craters, volcanic cones, volcanic rocks and tubes etc.

Along the coastlines you’ll find vast sandy beaches, with some impressive reefs, capes, bays along with some steep rock faces and formidable cliffs, like Los Gigantes (http://www.simplygroups.co.uk/images/Los%20Gigantes1.jpg)in Tenerife.

The Canary Islands are home to Spain’s highest mountain – Mount Teide (http://schools.telescope.org/gallery/fullsize/58.jpg). Located on Tenerife, it reaches up to a staggering 3,718 metres in height and is frequently covered in snow. Other dramatic peaks include Blanca Mountain (2743 metres) and Viejo peak (3100 metres).

All throughout the archipelago, in the more populated islands like Tenerife and Gran Canaria as well as the lesser known ones like El Hierro and La Gomera, you’ll find a wealth of ecologically valuable areas and natural spaces.

Natural Spaces
In 1994, the Canary Islands Natural Spaces Act began providing special protection for a large percentage of the Canary Islands. Its aim was to conserve the island’s many natural assets and areas of ecological importance.

Despite the regions small size, the Canary Islands contain four of Spain’s ten national parks – Las Cañadas del Teide, Garajonay, Caldera de Taburiente and Timanfaya – and perhaps in the future, Roque Nublo Park in Gran Canaria.

As well as these, there are plenty of other areas throughout the Islands that enjoy special protection status – numerous other parks, reserves, and sites of scientific interest.

Macronesia
Along with the Azores, Cape Verde and Madeira, the Canary Islands are located in what’s known as a Macronesia – the name for several groups of islands in the North Atlantic Ocean near Europe and North Africa. All of these are characterised by having a large number of indigenous species and a wide diversity of landscapes, formed by decades of intense volcanic activity.

Some of the Canary Islands are quite flat, like Lanzarote and Fuerteventura whereas others like Tenerife and La Palma reach great heights. Known as the happy or fortunate isles, the Canaries are blessed with an especially gentle climate. This is mainly due to the influence of ocean currents and the trade winds.

Investing in the Canary Islands
With a perfect climate all year round, the Canary Islands are one of the most popular tourist destinations in Europe.

“In 2006, the number of incoming foreign tourists was 9,530,039”.

The recent property scare in Spain doesn’t seem to have affected the islands at all. Most people regard the Canaries as a much safer long-term option. The climate is a major factor, especially for buy-to-let investors.

While in Spain, prices dropped by up to 20% from last year (2006), the Canary Islands have seen continual growth. Some investors have even been trying to sell on the mainland and reinvest in the Canary Islands.

One of the most popular and lucrative investment options throughout Spain, the Canary and Cape Verde Islands is buying off-plan.

Although it can be a gamble, if successful, off-plan projects greatly benefit the developer and estate agent as well as the buyer.

For developers, it’s a way of reducing their risk, while at the same time using someone else’s money to finance their project.

Estate agents make very generous commissions, when they sell an off-plan development. They’re normally quite easy to sell too. Amateur speculators are often very keen to buy into an investment option with a strong reputation for “guaranteed high-returns”.

Plus, they can make the sale, take the commissions and run. They don’t have to worry about complaints or hassles from the buyer who takes possession two years down the line.

A significant proportion of UK investors looking to buy property in Spain and the Canaries will choose off plan. Most of them are amateur speculators looking for that risk free, high return investment.

Buyers can make considerable savings when they buy off-plan. It has numerous advantages…

Advantages
Ideally, what you should end up with is a lower cost, high quality property, that’s risk free.

Price
This is the biggest advantage of buying off-plan. You can expect to pay around 10 – 30% less than you would for a similar resale property in Spain.

Developers charge less as a form of compensation. They’ll compensate you for taking the risk – as paying hundreds of thousands of euros for a property that hasn’t even been finished, or even started does involve a degree of risk.

You’re also being compensated for providing the developer with the money they’ll need to help finance the development.

Quality
What you get with an off-plan investment is a property made with the most up to date building materials using the latest construction techniques. They’re much higher quality than traditional Spanish constructions – which can be quite bad. In Spain and the Canaries a brand new property should be the highest quality in the market.

Over the past few years, building regulations have been tightened, encouraging much higher standards. They’re constantly improving – so the newer the property, the higher the quality. Having said that, it ultimately depends on the spec. offered by the developer – what kind of development he plans on building.

Risk Free Investment
In Spain, you’re entitled to a number of guarantees from the developer. The law covers you for different types of build defects over different periods.

If you buy off-plan, you’re property will be guaranteed against the most serious structural defects for 10 years. And if you buy a property form a developer that’s just been finished, you should get the same guarantee.

Flexibility
To some extent, you can have your own creative input into what the property will look like (colours, floorings, certain fixtures etc.). Developers can be very flexible on this. The degree of flexibility varies considerably from one developer to the next.

Selling the property
If you change your mind about the development and want to sell the purchase contract before the property is finished, you might be able to sell it on to a third party and make a huge profit in the process.

This has certainly been the case in the past and has also been one of off-plan investing’s greatest attractions.

Nowadays though, things are different. In Spain’s popular coastal areas, like the Costa de Sol, overbuilding has become a problem, making it more and more difficult to sell on properties before completion. On the Canaries and Cape Verde however, this is much less of a problem.

Buying a property off-plan can be an extremely lucrative investment option. Over the years, developers and agents as well as buyers, have it has made a lot of money from it.
For the developer, it’s a way of reducing risk. It’s also a way of financing part of their project with someone else’s money.

Estate agents like to sell off-plan as they can earn very generous commissions from the developer. They’re generally easier to sell because or their reputation for providing high returns on investment. The estate agent can just take the commissions and run. They don’t have to worry about any hassles from the buyer later on down the line.

Buying off-plan does however, have a downside…

Delays
The most obvious disadvantage is that you have to wait for long, sometimes uncertain periods before you can either live in or rent out the property. For but-to-let investors, they cant’ obviously gain rental income until it’s fully finished and furnished.

This is however only a disadvantage in some cases, as for some buyers it may suit them and could therefore be seen as an advantage.

Second Rate Locations
A problem that has been getting worse every year in Spain is overbuilding. A lot of the sought after coastal locations in popular areas are taken up. All that’s left for new developments are second and third line locations often with motorway views.

This however, is only true of places like Marbella on the Costa Del Sol. In newer locations like Murcia, Cadiz, Almeria and Fuerteventura, there’s still plenty of space for front line development.

Uncertainties
The fact that the property hasn’t been built yet can cause all kinds of uncertainties – uncertainties that can turn into genuine problems…

Between the time you sign the contract and the delivery of the property. Developers can run into all sorts of problems; everything from bad weather and bad project management to problems with planning permission and even insolvency.

New developments rarely finish on time, regardless of what the sales organisations tell you. So, it’s very advisable to build this into the contract and whatever financial plans you might have.

Inconsistencies
One of the biggest risks for anyone buying off-plan is that they might end up with a property that doesn’t match the plans and specifications that they had initially signed for.
Apart from the fact that developers are notorious for promising one thing and delivering another, actually understanding what the plans and specifications mean in terms of finished product can be quite difficult for anyone outside of the construction industry.

This is apparently one of the biggest complaints off-plan buyers have. Known as “Under build”, it’s where you pay for more than you get.

Guidelines
In Spain, as a buyer you’re entitled to insist on adequate documentation regarding the build specifications from developers before you go ahead and purchase. The Spanish consumer protection laws gives you significant rights when it comes to off-plan purchases.
If you experience any problems with build quality or find that the developer has failed to meet the correct specifications, you are urged to file complaints against him.

So the most important thing to do is check that the developer’s plans and specifications are sufficiently detailed to minimise any such problems. Ideally, check the details with your lawyer. Find out how the developer plans to deal with any of these problems, should they arise.

According to a recent article by Mark Stucklin, from Spanish Property Insight “63% of British buyers end up using the lawyer recommended to them by their estate agent. Of these, 20% report being very dissatisfied with the legal service they receive.”

He goes on to point out that using a lawyer appointed by the estate agent is unwise in most cases and that ideally you should choose an independent Spanish lawyer – one with no connection or obligations to the agent.

Why you’ll need a lawyer
Buying a property in Spain is a relatively straightforward process, but like in the UK, it can be detailed and sometimes complicated, especially if you don’t have fluent Spanish. Unexpected costs and problem can arise. This is why you need a lawyer, preferably one who speaks English and is completely independent from the estate agent.

For a second-hand property, your lawyer needs to make sure that the seller actually owns the property – that it’s his name on the title deeds.

In Spain, debts belong to the property not the owner, so he’ll need to make sure all debts are paid, otherwise you could end up buying into all sorts of stress and hassle.
You and your lawyer should meticulously check the contract and make sure that the property fully corresponds to the details in the title deeds – ie, size, number of bedrooms etc. These are just two of the most fundamental checks the lawyer has to make. He’ll have to do many more.

For off plan purchases, the lawyer’s role will involve checking the contract and making sure that it gives exact details of the type of property he’s going to build, with all the specifications and that all the correct licences and guarantees are adhered to.

What’s written down in the contract is your only real security when dealing with new developments. If the contract is faulty or incorrect, you could find yourself in big trouble.

The contract should specify a date for completion. Although new developments are nearly always finished late, your lawyer can help make sure the time frame is both reasonable and realistic.

Independent Spanish Lawyers
In most cases, UK buyers will just use the lawyer that’s been appointed by the estate agent. Initially, it seems like the obvious choice.

For buyers who come over on inspection visits, time is so limited that they rarely have enough time to find their own lawyer. So they just make do with the agent’s lawyer.
One of the main reasons buyers end up unsatisfied with the legal service they receive comes down to the agent’s motives.

In Spain, estate agents are highly motivated by closing sales; closing as soon as possible. They can make very juicy commissions off them. They want to sell to you as quickly as possible and will recommend any lawyer who’ll facilitate this – their own in-house lawyer being a prime candidate.

You can never be too sure about the relationship between the agent and their appointed lawyer. They could have all sorts of deals going on – anything to secure a quick sale.

This is why, ideally, you should find your own Spanish lawyer; one that’s independent of the real estate agent or developer. You need someone that can give you impartial advice and who works solely for you and in your best interest.

Try and find a lawyer before you start the purchase process – before you even contact the agent, if you can. This way, you won’t be pressurised into using their lawyer.

Finding a Lawyer
The British Consulate can provide you with a list of English-speaking lawyers right throughout the Spain and the Canaries. Checkout the following link – (British consulates in Spain) (http://www.spanishpropertyinsight.com/british_consulates_in_spain.htm )

Buying a new home in Spain
Buying property in Spain is very straightforward, once you take a few precautions. Thousands of people happily and successfully set themselves up in Spain every year. Most of them never look back.

One of the easiest ways to realize a good return on investment in Fuerteventura is to purchase land or buy into a new development property.

Mirador de Lobos Golf, from Montaña Roja Estate Agents, is one of the latest new developments on the island and has excellent potential. It consists of 150 top quality semi-detached villas and duplexes, all of which are surrounded by a private golf course.
Every villa has 3 spacious double bedrooms, 2 bathrooms and a guest room.

Montaña Roja work both as a real estate agent and developer. This way they can offer their clients some very generous price reductions. They deal with various new development properties throughout Fuerteventura and Morocco.

Investment Property Abroad
Despite the recent property scare, investment property in Fuerteventura is still a popular option and one of the most secure ways of seeing a guaranteed return on investment.

Although traditionally it was the more mature investor that you’d normally see investing in property or land overseas, nowadays we’re seeing a significantly large number of young British investors doing so.

As well as investing overseas, many Britons are making the permanent move to sunnier climes. Even back in 2004, over two hundred Britons moved abroad.
Two very popular up-and-coming areas are Fuerteventura and Morocco, both of which have undergone massive beneficial growth with many new property development schemes already constructed.

In order to cope with the demand, the authorities have greatly improved the infrastructure and there are now plenty of cheap and available flights flying to and from each of these destinations from most UK airports.

Mirador de Lobos Golf
Mirador de Lobos is scheduled for completion in January 2008. It’s one of the highest quality developments on the island and is very much sought after. Just think, in a few months you could be enjoying a few rounds of golf on your own private course, overlooking the Atlantic Ocean, at any stage of the year in just shorts and a t-shirt.

As well as the 3 double bedrooms and 2 bathrooms, each property also has a guest bathroom, a spacious lounge/dining room and a separate kitchen with a choice of single storey or two storey layouts.

You also get a private garden, which has both covered and open terraces. Then there’s the huge roof terrace, where you can really get to appreciate the fabulous light and climate.
Mirador de Lobos is located in the exclusive Parque Natural area of Corralejo, in northern Fuerteventura.

This is one of the most desirable parts of the island to own a property, either solely as an investment or as a place to live with an excellent standard of life.

Montaña Roja
Montaña Roja are involved with nearly all of the latest property development schemes in both Fuerteventura and Morocco.

They work both as an estate agent and a developer. By doing so, they effectively “cut out the middleman”. The savings gained from not using any intermediaries is passed onto clients. Montaña Roja is undoubtedly where you’ll find the best value for money in either of the locations.

With such exceptionally priced off plan development property available you can easily make an excellent return on investment.

Contact details
If you have any questions regarding this or any other
development/property you can contact them at the following address…

Montaña Roja
Gestión Inmobiliaria Montaña Roja. S.L.
C/. Nuestra Sra del Carmen, 40
35660 Corralejo
Fuerteventura, Canary Islands, Spain
Sales Office New Developments
Phone: 00 34 928 537 301
Phone: 00 34 928 866 337
Fax: 00 34 928 867 614
Fax: 00 34 928 867 481
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