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14thJuly 2010
OWN PROPERTY WORLDWIDE SECURES EXCLUSIVE CONTRACT
TO BECOME SOLE SALES ARM OF DAVID COATES NEW VENTURE
Steve Dawkins, Managing Director of boutique international brokerage Own Property Worldwide (www.ownpropertyworldwide.com), has secured an exclusive contract with Real Estate Worldwide to become the company’s sole sales arm. The collaboration has been confirmed ahead of Real Estate Worldwide’s official launch in August 2010, a new venture of David Coates, Managing Director of Elmscott.
Real Estate Worldwide will promote and generate leads for current Own Property Worldwide developments and source new projects in locations such as the Algarve. All leads will be delivered to and managed in-house by Own Property Worldwide’s rapidly expanding team. The strategy for both businesses going forward is to harness Dawkins and Coates wealth of industry knowledge and experience and to utilise their extensive joint contacts across broadcast, print and online media.
Steve commented: “Own Property Worldwide has had an extremely buoyant year and I am incredibly excited about working closely with David and his team. We are looking forward to providing our signature first class service to clients of Real Estate Worldwide as we continue to expand OPW’s international network of affiliate partners.”
David said: “Having known Steve for a number of years, I strongly feel that collaboration with him will allow our clients to benefit from Own Property Worldwide’s knowledge and expertise. Steve and I have discussed various routes to market and feel this new development in our working relationship can only further strengthen our market share. "
For media enquiries and images please contact:
Mirinda Dawkins:
Mirinda.dawkins@googlemail.com, 07971 902 565
NOTES TO EDITORS:
Steve Dawkins, Managing Director, Own Property Worldwide
Steve Dawkins is regarded as a leading figure in the international property sector and is Managing Director of Own Property Worldwide Ltd (OPW), which he launched in July 2009. As one of the fastest growing international property brokerages in the UK, Own Property Worldwide strives to continually source the most lucrative investment opportunities and lifestyle properties from around the world.
David Coates, Managing Director, Elmscott Advertising & Real Estate Worldwide
Established 12 years ago by Managing Director David Coates as an advertising agency specialising in the travel and property market, Elmscott has evolved in recent years to meet the needs of clients through strategic evaluation, creative design and marketing services, combining the talents of a dynamic team of highly experienced professionals.
Marbella – It’s the time to buy a lifestyle investment property
The Spanish property market has been put under a huge amount of scrutiny recently and the aim of this article is to outline some positive reasons to re-consider buying here. With all the negativity surrounding Spain, who could blame you for believing it wiser to consider other international locations to invest your hard earned cash? Over the past few years, a number of emerging locations have flooded the marketplace, taking the spotlight away from the more traditional holiday home destinations. However, these new kids on the block have often failed to deliver on buyer expectations and the spotlight will soon be shining once again on long term favourites such as Marbella.
I’m sure seasoned readers of this newsletter don’t need reminding yet again why property prices on the Costa’s crashed so spectacularly; but there does seem to be a bright light flickering at the end of this dark tunnel. With the recent weakening of the Euro (£1 – 1.15Eur as I write this) and with experts forecasting it will fall even further; I believe that now may well be the time to buy in Spain again.
The economic downturn has sparked a dynamic property market that is buzzing with distressed and Below Market Value (BMV) opportunities. Properties in perennially popular destinations such as Marbella are being made available to investors in the know, with up to 50% off already reduced prices.
But what kind of properties offer great value for money and most importantly, what should you look out for to protect your interests in 2010? Below I will outline some of the current deals available and the innovative schemes that have been put in place by leading developers to tempt you.
Own Property Worldwide and our partners in Spain are offered thousands of properties to promote but we use our expertise to select only premium properties that offer unbeatable value for money; saving investors a huge amount of time and effort in a fluctuating market.
For investors looking for capital growth opportunities over the next five years, I would suggest that the key motivation would be to purchase a holiday home as a ‘lifestyle investment’ at prices as low as we are ever likely to witness.
For the majority of investors looking to buy now, the holy grail of a ‘lifestyle investment’ is purchasing a holiday home that offers great capital growth potential. Marbella to a tee! Which reminds me to give a mention to the huge array of world class golf courses on offer…
What can I get for my money?
Properties currently available in the Marbella region include apartments from 130,000 Euros, townhouses from 230,000 Euros and penthouses with incredible sea views from only 250,000 Euros. But remember, the best deals are being snapped up on a daily basis so I highly recommend contacting us at OPW to view the very latest up to the minute deals. My top tip would be to consider only penthouses with great views and townhouses on established developments. Bear in mind that small one bed apartments in poor locations are priced low for a reason…
A deal not to be missed
Own Property Worldwide has recently agreed an amazing opportunity to promote centrally located, high spec townhouses in the heart of glittering Puerto Banus.
Within the last 18 months, many of these properties were marketed and sold for approx 1m Euro and OPW can now offer them to readers of this newsletter for less than 500k. This staggering discount is available for a short time only and finance is available for around 70% of the purchase price. Don’t miss out - contact us now for further details.
Try before you buy
Developers have come up an interesting opportunity where you can literally try before you buy. One such highly recommended scheme is in the respected Lomas Del Rey development, situated in an exclusive enclave behind the five star Puento Romano hotel. With reduced prices on luxurious 2-3 bedroom garden apartments and penthouses, the developer welcomes interested buyers to rent their chosen property for one year. The total amount of rent paid in that 12 month period will be deducted from the purchase price if you choose to invest. Not only do you get to sample the Marbella lifestyle, you can also lock into a price now or be in a superb position to negotiate with the developer in a year’s time if prices do fall a little further.
Rental market
With the overall trend in package holidays declining and more of us electing to rent private accommodation and therefore choosing a more independent holiday, the rental market for quality properties is booming. This further builds a case to consider purchasing a home abroad, although the rent achieved on holiday lettings rarely covers the full annual mortgage and maintenance costs so careful budgeting is recommended.
The official stats
Spanish property prices fell by 5.5% over 12 months to the end of January 2010, according to the property price index published monthly by Tinsa, one of Spain’s leading appraisal companies. That’s a slight improvement on the 6.6% on the previous month, and confirms a general trend towards smaller price declines.
At this rate, prices will be stable or rising again sometime towards the end of 2010.
Tinsa’s figures are based on their own valuations, not actual transaction prices so these stats may be a little wide of the mark. Nevertheless, the figures are interesting in what they reveal about trends, and the valuations used by banks for mortgage lending purposes.
A few words of advice
Buying an investment property in Spain can be a rewarding and profitable venture if you get it right and work with the experts. Here are some words of advice to keep you on the correct path.
- We recommend you do your own research to compliment the expert advice you would seek before buying a property in Spain. Buyers who fail to research the market and choose the wrong partners in the purchasing process are likely to overpay for property and take unnecessary risks.
- Create a clear, written brief of your property requirements to guide your search.
- Make hiring an independent, competent Spanish lawyer one of your first tasks.
- Aim to deal with reputable companies such as Own Property Worldwide (of course I would say that but it’s true!)
- Never sign a contract or pay a deposit before carrying out an appropriate due diligence and getting the all clear from your lawyer.
- Always make sure your financial position is clear before paying a deposit. Failure to do so could result in losing your deposit.
Buyers today really are seeing the lowest prices we are likely to witness in Marbella. For readers in a position to raise a deposit of approx 30-40% on a Spanish property purchase, now may just be the opportune time to acquire a superb property for up to 50% below the current market value. Why not contact us now to see if the Spanish market has a place in your property portfolio…
