Top Adding - Real Estate

Yes Spain is a little different for purchasing property compared to buying in the UK; extra costs can come as a bit of

According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product

a surprise to those that do not know what is incorporated in the property purchase. Extra costs that you are likely to

; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.

Examples of combination products may in

ave to pay are:

- IVA (VAT) for the buyer – 6% on resale properties, 7% on new build properties.
- 1 / 2% for sta

lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.

p duty
- Registration office fee (300 euros roughly)
- Also the notary fees and legal costs

So it is importa

here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe

t to add roughly 10% of the value of the property that you are buying to the end amount needed for extra property taxes

d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.

Combination pro

and costs.

Straight away you are landed with costs of up to 10% of the properties value, and that is before you have e

ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc

en brought the place and signed on the dotted line which if you are looking to invest in property in Spain or find a ba

easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi

gain – is a huge set back already.

So then we come to property agents! Back in the day of the property boom in Spain,

nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically

eal Estate companies more or less dictated the market prices and commissions being able to reap the rewards of buyers d

and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ

sperate to buy a property in Spain – properties were being snapped up quicker than the demand, builders simply couldn’t

ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi

keep up. It’s a different story now, with the market flooded with too many empty resale properties on the market and de

ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.

Following aspects would a

elopments’ still flying up all over the place, the demand is just not what it was at the start of the bubble.

Even now

dd to the challenges in developing combination products:

Which markets to tap where the combination products can do fairly well?
Which combination prod

you could expect to face commissions as high as 10 or 15% on new constructions and more or less the same with greedy Es

cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin

ate agents with resale / second hand properties.

So you wanted to save money on overseas properties in Spain?

Add the

tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen

costs and taxes which are needed to buy your property to the commission that the Estate agent demands for the property

t?

As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel

nd you are landed with a big bill. In our days in Spain, if you were looking to sell the property that you have bought

ping new procedures for reviewing their safety, efficacy and quality.

Professional from academic institutions, pharmaceutical industries, health care indust

you will stand to lose one hell of a lot of money for a property that you were told would sell for a lot more than you

y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products

bought it for, to recuperate the money that you have spent – you would have had to find a real bargain of a property.

.

As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de

hat if you could cut out the agent? Well you can, go direct to the owner; deal with the seller of the property to negot

elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.

Companies that provide selfless information through particip

ate the price that suits you and the owner.

Remember that the Estate agent is also pricing them out of a sale as well…

tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products

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