Investing Insights | Costa del Sol
As the summer season heats up and temperatures head North, it seems the only thing outpacing this welcome rise in heat are the local property prices!
Marbella and the wider Costa del Sol have always been seen as a prime destination for second homes in the sun but now more than ever before it is proving a safe haven for smart investors seeking a passive income, with ever-increasing return on investments (ROI). Self-financing through year-round rentals, and the inexorable property price increases are just the added cherry on top, and with the team, Mojo hand-holding the entire process is virtually hassle-free and financially flawless.
Here Mojo delves deep into the numbers and creates a financial simulation including necessary maintenance costs, taxes.. every running cost. Plus, rental income offsets against mortgage payments, to help you estimate the ROI.
Useful information to take into consideration:
- As a nonresident, you have until you’re 75 years old to complete payment for your mortgage. So an ideal buyer will be 50 years old in order to have 25 years of mortgage.
- Knowing when to exit is equally as important as getting in early. Generally, off-plan phases 1 or 2 are the most attractive for investors.
- Location, location, location…. Leave it to the Mojo experts to recommend the hot spots.
- New build or Resale? Buying privately or through a Spanish company? Properties purchased through an “S.L” offer taxes advantages. It might be the best option for you. Let Mojo team advise you.
Resale purchase as private person = 7% ITP
Resale purchase via SL company = 2% tax