As Property Related Businesses Struggle on the Costa del Sol? – This New Business is Optimistic

Malaga, Spain, July 23, 2009 --(PR.com)-- Despite the state of the world economy, the sterling euro exchange rate, flat property market and mass exodus of Brits leaving Spain this is a good time to establish a new business according to Mark Fisher, a Director of Blueray Design and Build S.L.

Established on the Costa del Sol in January 2009 Blueray comprises a small team of architects, designers and building professionals who have all previously worked together in another company.

What may appear to be a somewhat foolhardy time to set up a new building company in a region of Spain which is severely feeling the impact on its property market may not be as crazy as it sounds.

With property related businesses struggling to survive and nearly half a million coastal new build holiday homes sitting on the market, according to Spanish financial daily Expansion, why do Blueray think they make sense?

According to owner Mark Fisher there are several reasons why - “Undoubtedly the recession will weed out those companies who did not have the right business model and attitude in the first place and hopefully many of those will be the cowboy builders long associated with this part of Spain, unfortunately many of them ex-pats. I am still amazed at the horror stories I hear of massive overcharging, misappropriated client funds, below standard workmanship and almost non-existence service. This was fast becoming the norm. Throughout the property boom it seems many businesses got greedy, they didn’t concern themselves about service and reputation maybe because there was always another client around the corner.”

Mark Fisher also believes that to a certain extent clients played a part in their problems by not doing enough due diligence. Many thinking the fact that someone speaks English and says they are a builder is good enough. With a reputation for ex-pats reinventing themselves as they get off the plane there are all too many people trying to earn a living in professions they have little or no experience of.

Blueray believes there is a gap in the market for a professional building services company. The team consisting of English, Spanish and German staff, have an average of 18 years experience each. Mark Fisher who ran his own building business in the UK, and Principal Architect, Richard Klein have both worked for 30 years in their respective professions.

Mark explains his thoughts on the Costa del Sol market “This is predominantly a refurbishment market. Spanish residents who may have thought about moving are spending their money on updating or expanding their properties. Those who have been trying to sell up and are struggling will have to set their property apart from the mass and perhaps that will mean a rethink on room layouts, décor etc. And of course there are the bargain hunters who are purchasing cheaper and so have the spare money to put their personal stamp on a property with a makeover.”

According to Blueray the Spanish system being what it is means that even just changing bathroom tiles requires a license from the local town hall and any building work of a structural nature has to have an architect involved from start to finish. The bureaucratic processes are complex and the legal implications of not adhering to them can be very costly. This is an area which Blueray feels it has definitely got right. With an in-house team which includes a Spanish lawyer and Technical Architect, taking care of the red tape is efficiently dealt with. They believe there is too little information available to clients embarking on a project and for this reason they have recently launched their website with detailed information on the processes so clients are armed upfront enabling them to ask pertinent questions and make the right decisions.

The new build market is still moving albeit mainly at the top end of the market as Mark says “People with money still have money they are just being a little more cautious how they are spending it and more so when it comes to property. I would say that considering the market from a developer’s point of view, now is a good time to invest, particularly at the high end. Cost of borrowing, land and materials are all cheaper. “ He goes on to say “With the length of time it takes for an architect to produce a unique design, taking it through the approval process and then building you are realistically looking at two years to completion. I believe in 2011 the market will definitely be more buoyant and certainly the high end will be flourishing again so now seems a good time to me.”

With several projects under way including a new 2000m2 villa design and build project in the world renowned private estate of La Zagaleta in Marbella perhaps Blueray has got it right.

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