Overseas Investment Property Agents Simple Palmera Properties Open New Office in Galway

Overseas investment property agents Simple Palmera Properties continue their nationwide expansion in Ireland by opening an office in Galway, in partnership with Brendan Fahy Auctioneers, and predict a continued surge in overseas investment on the back of Celtic Tiger 2.

(PRWEB) November 18, 2004 -- Introducing 'mud stage,' a new concept in investing in Spain.

'Mud Stage,' a new concept in property investment in mainland Spain, has been introduced to overseas investors by Brendan Fahy (Auctioneers) in conjunction with Simple Palmera Properties through their Galway office.

This new partnership will enable Irish purchasers to continue to build on their overseas property investments (http://www.simplepalmera.com) in mainland Spain at the best prices at pre-launch stage. The Mud Stage concept enables you to buy directly from the developer - cutting out the middleman - as soon as the plot is purchased and prior to going on the open market.

To coincide with the launch of this new venture, Brendan Fahy (Auctioneers) are now offering 90% mortgages on selected overseas investment properties in Spain in association with Simple Palmera Properties and one of Spains leading banks. Until now, Irish purchasers were not able to benefit from these levels of finance.

According to Brendan Fahy of Simple Palmera Properties in Galway (http://www.simplegalway.com), "Irish people are continuing to invest heavily in properties overseas (http://www.simplepalmera.com) and still favour Spain because it is easier to do business there than anywhere else. In addition, the consistent levels of growth and performance make investors feel more comfortable about investing in their future there."

Predictions in recent weeks clearly show that Ireland is to embark on Celtic Tiger 2 and is now, officially, the fastest growing economy in Europe. With other experts claiming we will probably be the fastest growing economy in the world shortly, it is fair to assume, according to Karl Morris of Simple Palmera Properties, that, "Irish people will have more disposable income than ever and will seek out ways to invest it properly."

The Davy Report (part of the Bank of Ireland Group), published in October 2004*, explains that Ireland is the fastest growing economy in Europe by some distance. While the average growth rate for the old European Union (EU-15) during the first six months of this year was 2.3%, second-best after Ireland was Greece, which grew by 3.9% year-on-year during the second quarter. The figures also confirm that the Irish economys 'soft patch,' which lasted from 2001-2003 is now firmly behind us -- over the past five quarters cumulative growth in GNP came close to 6%. Forecasted GNP growth for 2004 remains unchanged at 4.6%, although recent media reports are suggesting that in 2005 this figure will increase to 5%.

Designed to attract the lower to mid range investor, there are, according to Brendan Fahy, "Three key differences with purchasing Spanish property though our Galway office:

a) you are buying directly from the developer at the earliest possible stage, making it more affordable to enter what is a prime real estate market,

b) buyers do not have to outlay funds during the course of construction, as only a small initial deposit is required with the balance not due until completion. So, in effect, you are not funding the construction on behalf of the builder (a trend despised by Irish investors as it equates to outlay over 3 years before any return is achieved), since all our developers are fully bank financed,

c) you are free (unlike many contracts in place in Spain) to sell on your property at any time prior to completion to another investor."

Simple Palmera Properties have offices throughout Spain and Ireland.

Typical apartments start from €80k and range up to €185k, and areas covered in Spain include the Costa Almeria, Costa del Sol and Costa de la Luz.

To contact Simple Palmera Properties in Galway (http://www.simplegalway.com), call Brendan Fahy (Auctioneers) on 091 -- 531988 or email galway@simplepalmera.com.

*Davy (part of the Bank of Ireland Group) published the above figures in their Weekly Market Comment -- further details can be obtained by calling 01 614 8997 (research division) or check out their website www.davy.ie

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