Although there will always be many people looking to purchase a property on the Costa del Sol, today there are also many who see the adventure and opportunity of buying a Costa del Sol plot instead. The popularity of plots hasn’t wavered in the last twenty years; on the contrary, those in the know realise that the land value is only likely to increase. There has been an 800% increase in value over this period, actually.
Gone are the days when only businesses and rich people invested in plots. Plots equate to assets, and the potential for what can be done with the land is massive, whether that is development or just a straight resale in the future at a distinct profit.
In an area as popular at the Costa del Sol, it is important to strike while the iron is hot when it comes to buying plots; land for sale is in limited supply, evidencing the high demand. Another plus point for those looking to invest in a Costa del Sol plot is that it is significantly easier than purchasing a residential property.
Advantages of buying a plot
Land is always going to be an asset. Due to the constant increase in prices, you can be sure to make a profit on it. Your plot is likely to have a higher resale value than a residential property because people wanting to build their own homes know that this is the best way to get a home tailored to their exact requirements.
- The purchasing process is relatively simple. You won’t be venturing into complex processes as can be expected with other types of investments.
- There is rental income to be had. If you don’t plan develop property on the land, you can simply rent the land out to those who want to use it for other purposes; they may want to erect temporary structures, grow food, use it for parking, etc. This is not a bad idea if you think it will be some time before you need to use the land yourself.
- If you’re on a budget, the plot is likely to be significantly cheaper than a residential property; what’s more, you won’t pay as much property tax, and zero in by way of maintenance costs. Buying a plot guarantees you the location you prefer, and you can then wait until you have the money for development.
- If you value privacy, you won’t have any neighbours living right on top of you.
Thinking of buying a plot on the Costa del Sol?
You might be one of the people who just hasn’t found that dream home here on the Costa del Sol; perhaps your requirements are so specific that it’s just easier all round to design your own home. If so, there are also a few things to keep in mind:
You may need to pay for a geological survey to make sure that the plot will be suitable for the type of development you’re planning for. This will highlight any incompatibilities or potentially detrimental conditions you need to be aware of.
Permissions, preparation and utilities
There will be certain preparations to be undertaken if you plan to develop on your plot, such a leveling, and you will need to become familiar with any permissions required from local Government. You will probably need to consider the installation of utilities, but this is pretty standard.
It is always wise to hire a solicitor – something that Paradise Marbella will be happy to help you with – so that your interests are always protected. Likewise, we can connect you with a trusted licensed architect from the School of Architecture (required by Spanish law), and construction professionals to get your project underway. You’ll also need to talk to us about potential taxes, the paperwork that will be required, and the professionals who can facilitate this.
Ready to go?
The next logical step is to view the land. Although it might look pretty simplistic from a picture, it’s still necessary to check it out in detail. You want to be sure that the terrain is as expected, and that there are no unanticipated challenges.
Paradise Marbella has some great plots at exceptional value, which we’ll be happy to arrange viewings for. This one in Elviria is 1000m2. You may also love this beautiful plot in Benahavis, or perhaps this spectacular plot with sea views. Another that might be just what you’re looking for is this incredible plot situated in the Marbella Country Club Golf Resort. Our team of property professionals are ready and waiting to take your call.