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Added 20/01/09
Building company reassures Spanish investors after luxury villa is demolished


Overseas property investment news - Fly to let A British couple have lived a year in a garage without running water or electricity after their £575,000 villa at Vera on the Costa Almeria was declared illegal by the regional government of Andalusia and demolished.

The sad story affecting Leonard and Helen Prior has prompted Taylor Woodrow de España to remind purchasers that they should buy from a reputable company.

The UK house builder in Spain is has moved quickly to reassure Fly to Let investors that Spain is still a safe place to buy as long as they do their homework.

Victor Sagué, sales and marketing director for Taylor Woodrow de España, said: “The shocking case of Leonard and Helen Prior strongly highlights the importance of not letting your head rule your heart when it comes to buying a home in Spain. There is nothing wrong with being cautious and taking your time before making a decision.

“Buying abroad is a huge investment and no one wants to risk losing their hard earned savings by purchasing a property that’s likely to fall in value or that doesn’t have the correct planning licence in place.

“We’ve had many recent queries from our customers worried about whether buying in Spain is a sound investment. Last year’s news of a potential property price crash coupled with the current horror stories of illegal building practices and homes being demolished, has understandably unsettled those looking to buy there.

“Despite the negative publicity we want to stress that demand for new homes from both Spaniards and foreign investors is still high, and although it’s true that the boom period we have experienced over the last 10 years has started to even off, there are still good and safe long term investment opportunities to be had if you do your homework.”

In partnership with Safe Buying Experience (SBE), Taylor Woodrow de España offers a scheme which the company says provides a safe and secure process for buying property in Spain and a one-stop shop offering a range of independent professional services.

The housebuilder also has some savvy tips and suggestions to help Fly to Let purchasers making investment decisions:

Do your research – don’t be fooled by beautiful photographs and bargain prices. Make sure you understand what you’re buying and always buy from a good quality developer in a beautiful area that reflects Spain at its best.

Track record counts - choose a well known company with a good track record.
Check guarantees - make sure that any property you choose has a structural guarantee and the correct building licence.

Trust the experts - Taylor Woodrow de España has teams that can give legal and financial advice. SBE provides an additional reassurance that your home is legal and above board.

Customer loyalty - Knowing that other people have bought a property from the same company and that they have had a good experience is really important.
Sagué concludes: “Despite receiving a battering from the press this beautiful country has retained its number one spot as the most popular place for Brits to buy abroad.”

Taylor Woodrow de España’s currently has developments in the Costa Blanca, Costa del Sol and Mallorca where prices start from £150,348 (subject to currency fluctuations).



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