The prices which developers propose are really competitive. New properties are in many cases cheaper than those that come from the second hand market. Additionally, you are involved in the early stages of construction, and in many cases you can decide how to arrange the rooms and which materials use for all finishes.
This lets you avoid many problems associated with the renovation as well as save time and money. Many of these properties are finished, ready to move in. After the purchase decision and agreeing with the developer on details. The next step is to pay a deposit to reserve a specific property.
Most developers will provide you the so-called package sales, which will be a private purchase contract and a copy of the bank guarantee. Your money will be sent to the protected account. In Spain, there is the law (which recently started to be very respected) which is saying that developer can not take a deposit from the customer. Money has to be paid on secured account. I can only be released under certain conditions. If, for any reason, the developer is not able to build the complex, you will receive cash back – with interest.
Once the entire construction process is successful (after several months), you will receive information from the developer, so that in a short time (about 2 weeks) to make the rest of the payment. You need to be prepared for it.
To sum up – buying any particular property can be stressful, especially if it is in a foreign country. However these from primary market, are coming back and becoming more and more popular. They can be really good opportunity. Isn’t that nice to have a brand new, fresh home ready for your arrival?