Following favourable enquires from its clients about property investment opportunities in Europe, Singapore-based Premiere Realty is organising a “Flavours of Portugal and Spain” event today (February 20) to introduce investors to real estate opportunities in the Iberian Peninsula.
This event is intended to help property investors in Singapore make the right investment choice, while discovering Portuguese and Spanish cuisine, wine and culture.
One of the properties the agency will introduce to overseas property investors will be Terrazas Costa del Sol in Malaga, Spain (pictured) – a selection of freehold holiday apartments by Pierre & Vacances Center Parcs Group (P&V), the European leader in local tourism. Located along the coastal region of the South of Spain, the apartments offer superb views of the Mediterranean Sea and the Straits of Gibraltar.
Another property that will be introduced is a small bed and breakfast hotel located in Catalan Pyrenees near Andorra.
Under P&V’s leaseback initiative, owners will receive a title deed and rent the apartment back to P&V for a fixed rental yield of 4 percent guaranteed for 10 years. Owners can choose to renew their contracts afterwards. Management and maintenance of the apartments will be the responsibility of P&V, where owners enjoy 21 percent VAT (value added tax) savings off the purchase price.
According to figures from the General Council of Notaires, the number of foreign buyers of Spanish property has increased since the Spanish Government announced the Golden Visa program in September 2013. The program allows a non-European Union investor and their immediate family members to apply for long-term residency in Spain if they spend a minimum amount of €500,000 in Spanish real estate. This amount can be combined into multiple property investments.
Florence Ang, Premiere Realty’s Marketing Consultant for overseas properties, told PropertyGuru: “Even Bill Gates invested in Spain’s property market last year, so why not investors out here in Asia.
"This is an opportune time for overseas property investors, with the new Spanish policy encouraging property investment. With current pricing providing excellent investment opportunities we expect sales to grow."
To attend the event email sales@premiererealtyglobal.com or call Florence Ang at +65 9691 1404.
Andrew Batt, International Group Editor of PropertyGuru Group, wrote this story. To contact him about this or other stories email andrew@propertyguru.com.sg
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