Property Deposit

I was reading recently that off plan  properties will almost certainly not be worth the price paid when competed 

The reasoning was that there are so many  properties potentially on the market that prices will not increase and may even continue to fall

PS. I am not any sort of expert in the property market just reporting what I have read

What do you think of this statement from an international estate agent:-

Thank you for your email.

It is standard practise when purchasing an off plan property to make payments prior to the completion. This secures you the property at the given price and gives you the opportunity to secure the best units. During construction prices rise, however you still pay the agreed price at the time of your reservation.


If developers did not ask for payments prior to completion they may as well just wait until the time when the apartments are finished and sell them then, at a far higher price. You can of course wait until the development is completed however you will then pay an inflated price, if the developer has any left.  I have attached the current price list for this development and as you can see, already 21 apartments/penthouses have been reserved.


I don´t know of anywhere in the world where you do not make payments on off plan constructions. Please correct me if I am wrong.

With so many great properties for sale across Spain anyone buying off plan must be mad.

The agents comments above are a joke, any house built now is highly unlikely to increase in value over the medium term.

Each to their own but do you really want to risk buying off p!an then live on a building site until all the other units are completed, if they ever are?

Just my opinion.

Andy

Hello Andy and thanks for taking the time to post.

Is it legal for estate agents in Spain to say anything? Are they not regulated or controlled in what they say?