Buying a new build appartment a good investment?
Hello
New member here. A few years back we had a villa in Calpe but sold it because it was right next to a (for us) too busy road. This was about 9 yrs ago, we have been on the look for a new house ever since but waited a bit too long to jump on opportunities and with rising prices in the Costa Blanca North we now are focussing more on the more southern regions. We also consider an appartment instead of a house since this is mainly a vacation place for us, not something where we will live permanently. We would rent it out a bit too to cover costs.
Now, we visited the Costa Calida a few days back and found two appartments with 3 bedrooms that interest us a lot. Prices for both are around 280K without VAT/costs. This fits our budget (just). Pretty convinced they're both a good buy (one is close to the sea, one is about 7km away in a golf resort). Will be ready somewhere in 2024.
Question is : is buying an appartment in this price-range a good buy? I know it'll probably rent out pretty well, but that's not our main concern. My main concern is what the resale value would be in about 5-10 years time. I'm 50 now, but when I'm 60 I do plan on buying a villa again to live in Spain permamenently or for a few months a year at least. So I'm a bit worried that buying a new, very nice 310K (costs including) appartment will sell for way less. Or am I wrong and are appartments still getting more expensive each year. There's a lot of building going on in the area, so maybe people will rather buy new than second hand?
All opinions welcome. Really looking into this with an open view. We don't know the area well, it's very different from Calpe/Benissa but also a bit more lively in the winter (Calpe is pretty much dead then).