Don’t Miss Out on this Firesale Opportunity

Investor? Why not a Firesale Opportunity?

Steven Roofthooft
Date: 13 August 2024
Read: 4 min

Investing outside of your country without local knowledge is something investors can be nervous with. Currently we have a Firesale opportunity from the National Bank that was created to handler the property crisis after the Leymans folding in 2008.

Today, Ayamonte falls into the Province of Huelva, which is one of Europe’s strongest property market. Yet today we have access to a special product being sold in Costa Esuri in a firesale.

We were the designers and architects of the project and later handled the sales.

Development in Costa Esuri, Ayamonte

The facts are, the new discounted prices in the Firesale are below the original sales price. After 10 years and the recent years of inflation, the price today is now below replacement value. Is this an opportunity? The rapid sales in the last six months tells us that it is. First time buyers have flocked from Portugal and local Spanish buyer. We are now about to have the last houses.

Our main business has been dealing with larger investors and funds who we guided through acquisitions of unfinished product, such as Cosmo Beach and Valley Heights.

In this case the homes were finished and had all the necessary legal paperwork completed of a new home in Ayamonte. The bank could acquire higher amounts by simply selling the units one by one in Firesale with discounted sales prices, giving the opportunity to the public…

The Firesale has a uniquely discounted price, but the new buyer purchases the property in Ayamonte “as seen”, similar to UK auctions. This means, although the property has been repainted, cleaned and any debts with Ayamonte Townhall paid, there will be additional expenses.

One of which is the kitchen, which doesn’t have electric domestic goods. The sales price does not include your personal lawyers fee, nor the normal notary fees, stamp duty on the conveyance when you purchase. Not unlike a public auction in northern Europe, the buyer will pay the sales consultant to handle the protocol required by the selling bank.

For the investor buying a number of units they should consider establish a company that will hold the real estate. Currently, the Government has modified taxes to further incentivize buyers. New companies have a 15% capital gains, and a discounted conveyance fee.

Why buy at retail when this discounted offer is one of the best. For an overview on the product please click here.

Ayamonte Homes is part of the Crest Group International, and it offers real estate developers and investors (funds & HNWI) the ability to take advantage of its diversified in-house skill sets and significant experience by offering a full suite of real estate services on a bespoke basis as required.