Investment Property in Níjar

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Buying Investment Property in Níjar?

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

Buying investment property in Níjar 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 Níjar are purchased by non Spanish Nationals and are either used as a holiday homes or straightforward by and hold investments in Níjar.

Once these properties have been renovated and rented then investors in Níjar 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 Níjar or elsewhere.

How easy is it to buy investment property in Níjar?

Buying an investment property in Níjar might be more complex, but Spain is a very welcoming country for foreign buyers as foreign ownership of properties in Níjar 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 Níjar 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 Níjar 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 Níjar?

Average property costs per square meter in Níjar are €1,722 per square meter, representing a solid, year on year growth trajectory of 8%.

Map of Níjar

Níjar (Spanish pronunciation: [ˈnixaɾ]) is a Spanish municipality in the province of Almería, Andalusia. It lies in the eastern part of Almería, in the Sierra de Alhamilla and the south-eastern Mediterranean coast, in the Campo de Níjar, near the Cabo de Gata-Níjar Natural Park.

Níjar covers an area of 599.8 square kilometres, making it one of the most extended municipalities of Spain. Its population of 17,824 (2002) is mainly concentrated in the cities of Campohermoso, San Isidro, and Níjar.

The main sources of income are agriculture, especially in the growing of greenhouse crops, and tourism, especially the watersports centre of San José.

Making Money on Investment Property in Níjar

The best way to make money on Níjar 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 Níjar

Fees for buying a property in Níjar 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 Níjar: 6–10% (existing properties) / VAT (or IVA) at 10% (new properties in Níjar)
  • Notary costs, title deed tax, and land registration fee in Níjar: 1–2.5%
  • Legal fees for buying investment property in Níjar: 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 Níjar, with a 18 year track record the agency has been directly or indirectly responsible for the largest volume of transactions in Níjar in the past two decades.

Types of investment property in Níjar

It is important to understand the main types of Investment Property in Níjar

  • Undeveloped land in Níjar
  • Commercial property in Níjar
  • Residential real estate property in Níjar
  • Operating property investment in Níjar
  • Distressed property investment in Níjar
  • Investing in a World Class fund with activities in Spain, and in Níjar

Types of property investment deals in Níjar

The main types of property deals in Níjar are:

  • Buy to let in Níjar
  • Buy to hold
  • Serviced Accommodation in Níjar
  • Vacation Rentals in Níjar
  • Commercial Property in Níjar

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

Buy to hold in Níjar

Long-term rental property in Níjar 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 Níjar 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 Níjar 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 Níjar 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 Níjar 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 Níjar 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 Níjar property to Holiday Accommodation

For property investors in Níjar, 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 Níjar and then converting these homes into serviced apartments to maximize yield.

The types of property used for serviced accommodation in Níjar 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 Níjar 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 Níjar

  • 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 Níjar
  • 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 Níjar
  • 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 Níjar 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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