Majestic Spain

Jnelhams

Has anyone had any dealings with Majestic Spain property investment scheme?

Natelle_2

As a satisfied owner of a property in Spain I would emphasis be carefull and evaluate why you want a property in Spain and what you expect to get from it.

My comments are irrespective of which agent you are considering, or even if you need an agent if you're serious.

Any company is going to present you with figures that will persuade you to part with your money so that they can get between 10 to 20% agents commission if they are a main agent, or 5 to 10% if a sub-agent. You will be given projected revenue and capital return figures that are possibilities. The problem is they are based on historical data, not a guaranteed future.

The current situation is that the property market is almost stagnant. There is an excess of offplan properties available, there is an excess of resale properties available, and there is an excess of properties for rental. Supply is far greater than demand at this time. As in the UK it's a buyers' market, there are opportunities for price reductions.

If you're serious about investing in Spain it could well save you heart ache and money in the long run by spending a week there looking at the market for both purchase and rental. Visit local estate agents, check with rental agencies the current rates that are obtainable. Go out under your own arrangements, book your flights, accommodation (villa or apartment) and car hire, and see what the actual situation is like.

Hope this helps a little.

I've looked at the Majestic Spain website and see no reason to change my views. There are many companys who offer a similar service.

Jnelhams

Many Thanks, you confirmed most of what I already thought about yet another one of these too good to be true deals, sadly my friend is convinced otherwise. One born every day...