Investment Property in l’Alfàs del Pi

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Buying Investment Property in l'Alfàs del Pi?

Looking to buy investment property in l’Alfàs del Pi? It’s a sound choice, yet one that must be executed correctly. This article tells you about buying investment property in l’Alfàs del Pi, the types of deals available and the likely returns. Remember, buying property in l’Alfàs del Pi has, on average, yielded in excess of 8% returns per year, and significant capital asset growth.

Buying investment property in l’Alfàs del Pi with cash outright is also a sure fire hedge against any rise in interest rates. Some investors look to buy properties in need of renovation or a change of purpose. They then renovate those properties and rent them out on a long term or short terms basis. Many investment properties in l’Alfàs del Pi are purchased by non Spanish Nationals and are either used as a holiday homes or straightforward by and hold investments in l’Alfàs del Pi.

Once these properties have been renovated and rented then investors in l’Alfàs del Pi may refinance the property by taking a mortgage over the property at a higher value, using the income to pay the mortgage and reinvesting the profit from the deal into more property in l’Alfàs del Pi or elsewhere.

How easy is it to buy investment property in l'Alfàs del Pi?

Buying an investment property in l’Alfàs del Pi might be more complex, but Spain is a very welcoming country for foreign buyers as foreign ownership of properties in l’Alfàs del Pi has really helped lift and stabilize the local economy.

The procedures for buying a property in Spain as an expat are relatively straightforward. Before buying, you’ll require a financial number, which can be obtained by visiting a police station with your passport. This is typically processed on the same day for Spanish or EU citizens, but may take a little longer for other nationalities.

Financing an investment property in l’Alfàs del Pi can be done by cash or mortgage charge. It is often easier for expats to finance the purchase from their home country. Pre 2008 many Spanish banks in l’Alfàs del Pi would lend to international investors although they have been reluctant to do again, so even now.

What is the average price of investment property in l’Alfàs del Pi?

Average property costs per square meter in l’Alfàs del Pi are €1,722 per square meter, representing a solid, year on year growth trajectory of 8%.

Map of l'Alfàs del Pi

L’Alfàs del Pi (Valencian pronunciation: [lalˈfaz ðel ˈpi]; Spanish: Alfaz del Pi) is a Valencian town and municipality located in the comarca of Marina Baixa, in the province of Alicante, Spain, lying at the foot of Serra Gelada.

L’Alfàs del Pi has an area of 19.3 km² and, according to the 2011 census, a total population of 19,802 inhabitants; the latest official estimate (as at 2019) is 20,482. The town has the second largest concentration of Norwegian residents abroad, along with sizable Dutch and English communities. The economy of L’Alfàs del Pi is mainly based on tourism. The most important monument in the city is the Catholic church of Crist del Bon Encert, built in 1784. The town’s symbol is a pine tree, which can be found in the church square. It is home to a nationally renowned film festival which runs each year.

L’Alfàs del Pi has created a planned sea-side community – Platja de l’Albir – situated between Benidorm to the south and Altea to the north in fields earlier dominated by citrus and almond groves. Since 1995, Albir has grown into a village of about 5,000 inhabitants, into a municipality with over 20,000 inhabitants; the majority of whom are originally from Northern Europe.

L’Alfàs del Pi has a high amount of foreign-born residents, having a higher percentage of foreign residents than Spanish residents. The largest foreign population are Norwegians, who have two public Norwegian schools, paid by the Norwegian government, two elder care centres for Norwegians and the only volunteering centre opened by the Norwegian government outside of Norway.

In 2013, the sculpture Paraboloide by Agustín Ibarrola that symbolizes peace and was made in honor of the 2011 Norway Attacks victims was revealed. The sculpture is placed in a park that will be named after Johan Galtung.

Making Money on Investment Property in l'Alfàs del Pi

The best way to make money on l’Alfàs del Pi Property is via an expert international investment fund.

Your Financial Advisor or Accountant won’t bring you the opportunities because of course they won’t receive their greasy commissions.

Investment funds are not even allowed to advertise so you’ll never hear of them unless a friend recommends them.

You will need at least some experience with previous investments to be eligible and of course these funds are extremely picky about the investors they accept. They can afford to be. They don’t need your money, but they can put your money to work for you like never before.

Costs of buying a property in l'Alfàs del Pi

Fees for buying a property in l’Alfàs del Pi vary from area-to-area, and many are negotiable – for example, there are no fixed fees for lawyers or estate agents. Buyers must pay the majority of the costs, which are generally as follows:

  • Property transfer tax in l’Alfàs del Pi: 6–10% (existing properties) / VAT (or IVA) at 10% (new properties in l’Alfàs del Pi)
  • Notary costs, title deed tax, and land registration fee in l’Alfàs del Pi: 1–2.5%
  • Legal fees for buying investment property in l’Alfàs del Pi: 1–2% (including VAT)

The seller usually pays the estate agent fees in Spain. Estate agents usually charge their fees as a percentage, typically around 3% of the final sale price.

Who is the Best Real Estate Agent in Spain?

PRestates is a multi-award winning Luxury Real Estate broker in l’Alfàs del Pi, with a 18 year track record the agency has been directly or indirectly responsible for the largest volume of transactions in l’Alfàs del Pi in the past two decades.

Types of investment property in l'Alfàs del Pi

It is important to understand the main types of Investment Property in l’Alfàs del Pi

  • Undeveloped land in l’Alfàs del Pi
  • Commercial property in l’Alfàs del Pi
  • Residential real estate property in l’Alfàs del Pi
  • Operating property investment in l’Alfàs del Pi
  • Distressed property investment in l’Alfàs del Pi
  • Investing in a World Class fund with activities in Spain, and in l’Alfàs del Pi

Types of property investment deals in l'Alfàs del Pi

The main types of property deals in l’Alfàs del Pi are:

  • Buy to let in l’Alfàs del Pi
  • Buy to hold
  • Serviced Accommodation in l’Alfàs del Pi
  • Vacation Rentals in l’Alfàs del Pi
  • Commercial Property in l’Alfàs del Pi

The Most Successful Property Investment Fund 2020 : Click Image to Download Prospectus

Buy to hold in l’Alfàs del Pi

Long-term rental property in l’Alfàs del Pi is widely considered one of the best ways to diversify your property portfolio. So buying and owning property means much more than just investing in a single property, it can bring you a variety of benefits, such as access to a variety of investment opportunities and the benefits of long-term ownership.

While some investors in l’Alfàs del Pi may be confused or intimidated when they start, buying and owning property can be one of the best investments you can make if you do your due diligence before you start.

The rental income from investment property in l’Alfàs del Pi generates short-term income that can be used to pay off a mortgage or to invest money. The strategy of buying and holding property is one of the most common investment options.

The value of the l’Alfàs del Pi property will increase over time and the investor will benefit if he is willing to sell it later. The investor benefits from being bought in the expectation that the value of the property will rise over time.

Investors considering a l’Alfàs del Pi property purchase and holding strategy should do their best to calculate the potential income from renting out the property. The bottom line is that monthly income should exceed the cost of rent in the first year of ownership and annual rental income over the next five years.

If the investor plans to sell the l’Alfàs del Pi property later, possible profits should also be taken into account. Finally, any losses from taking out a mortgage or other type of property financing must be taken into account, as well as any gains from the sale.

Convert l’Alfàs del Pi property to Holiday Accommodation

For property investors in l’Alfàs del Pi, converting a home into a serviced apartment would mean higher rents than the normal rent increase. As a result, many people are buying investment property in l’Alfàs del Pi and then converting these homes into serviced apartments to maximize yield.

The types of property used for serviced accommodation in l’Alfàs del Pi are often the same as those you would use to buy to let. Where you have a guaranteed short-term rent, it’s not as rigid as renting out a property.

Lease l’Alfàs del Pi property to the Worlds Best Rehab

Remedy Wellbeing is a bespoke, luxury treatment center with a significant corporate footprint in Spain. This means they treat just one client at a time in luxury 6* accommodations. All properties used by Remedy Wellbeing are as unique as they are inspiring. If you own or represent some of the most exceptional, unique and luxurious accommodations in Spain, Remedy Wellbeing can be contacted via their dedicated property management company, Physis Realty.

Disadvantages of investing in Serviced Accommodation in l’Alfàs del Pi

  • Holiday accommodation is more of a business strategy than a property strategy, and the workload is far more intensive.
  • You’ll need to furnish your holiday rental accommodation in l’Alfàs del Pi
  • You’ll need to clean the rooms and change the sheets every time your guests leave.
  • Who does all the laundry?
  • Who does all the cleaning?
  • Who’s going to do all the work for you in l’Alfàs del Pi
  • How are the guests actually going to get in?
  • Are you going to have somebody to do a meet and greet?

Buying investment property in l’Alfàs del Pi to convert into serviced accommodation or holiday lets is not really considered an investment, because the amount of work involved make it a full time job.

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