While Fly to Let property investors may have dried up on other Spanish Costas, there has been no shortage of buyers on the Costa Cálida who are looking to take advantage of the bargains on offer, claims the estate agency Mercers.

The company says September was their best sales month this year due to the number of property prices being reduced.

Director of Mercers’ Mazarron office, Gerard Rees, said: “The bottom line is that price drives sales and discounted properties offset any exchange rate concerns.
“In euro terms prices at our most popular resort, Camposol Golf, have fallen by about 30 percent. Meanwhile the vendor is content with repatriating increased funds back to the UK.

On the Costa Cálida we have no shortage of lifestyle buyers who are unaffected by the recession and looking to take advantage of these bargains.

“On Camposol Golf in particular we have resale properties priced about the same as new in 2002. Loan-to-value rates currently being offered by Spanish banks are also back to their old levels.

“For UK buyers this means now around 50 – 65 percent. Although not good, this is exactly how it was for us in the 90’s right up until the early 2000’s with most of our buyers borrowing in the UK, having the cash or a combination of the two.

“So really we are going back seven to eight years in terms of pricing and bank lending. Once lending increases then house prices will return to where they were 18 months ago within a fairly quick time frame. In the meantime prices have certainly bottomed out.”

Rees says it is possible to buy a two bedroom terraced villa on an established golf community from as little as €50,000 (£46,000 approx) or a detached Rosa style villa at Camposol golf for €95,000 (£86,000 approx).

This will give you two bedrooms and two bathrooms, and the villa is fully furnished, has air-conditioning and has a rooftop solarium with views across the countryside and surrounding mountains.

There are also detached three bedroom three bathroom Neptuno style villa on the same golf resort for €160,000 (£146,000 approx).

• Fly to let investors who are willing to consider a self build in Brazil can benefit from a cut price deal and have their property ready in time to take advantage of two of the biggest sporting events in the space of just two years – the 2014 FIFA World Cup and the 2016 Olympics.

The developers of the five-star Natal Ocean Club Resort & Spa have released their lowest priced product – plots from £40,000 – and as a bonus all new buyers will be entered into a draw to win three pairs of tickets for each tournament.

Samantha Gore, Sales & Marketing Director for specialist Brazil real estate agents www.uv10.com explains: “The lowest priced Beach Cabana now available direct from the developer is £308,000 but, taking the self-build route, this price could be slashed to £181,000 fully furnished with the added benefit of having until November 2011 to begin construction.

“The cost works out at £40,000 for the land, £110,000 for a 110m² open-plan detached property and an additional £31,000 for the five-star furniture package which includes a state-of-the-art entertainment and sound system.

“Finishing to this level enables owners to enter into the Preferred Hotel rental pool with some lucrative returns, particularly as within a few years Natal will have new golf courses, a football academy next door and the largest airport in Latin America.”

Owners and guests of Estates properties will, like all other Natal Ocean Club Resort & Spa proprietors, have full access to the Resort’s facilities.

This includes 300 metres of private beach, a spa and fitness centre, Zen pools, massage decks, restaurants plus sports such as horse-riding and dune buggying.

All purchases are eligible for the draw for three pairs of tickets for the 2014 football World Cup and the 2016 Olympics with winners announced at the Resort’s opening party at the end of 2010.

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