Is property an investment in spain - Page 2

You will never lose on property just chose location location location 

I know people when working in Dubai for over 25 years lose millions 

I'll give a tip Paco and I usually charge for this, best place to buy right now for value for money is South Africa turkey and Mexico and remember location location location 👍

Thanks already looked at s Africa cape not sure

Ddddddrrrrrrrr

Stick where you are and leave the rest of us to achieve making the cash Paco 👻👻👻👻

Make no mistake! Spanish property is possibly the worst investment possible. Ignore the hype where agents urge you to list your property "to replace those sold". Sorry if I sound bitter. I bought a small terrace for €212,000 in 2005 and struggle now to get €130,000 after costs.40% loss! The other one - a similar terrace but larger - bought late in 2005 at €280,000. Now valued at around €110,000, a 61% loss! Both houses are soundly built but the outrageous purchase sale costs make moving by an average working Spaniard out of the question - 6% agents' commission (incl tax) and 13% buying costs = 19%! Ludicrous. With 80% of Spaniards on temporary contracts, who would risk a mortgage when loss of employment would lead to repossession and life time bankruptcy - none of the pussy cat treatment of England!

There is only one reason to buy Spanish property and that is to exchange the dreadful conditions of collapsing England for a relaxed sunny lifestyle. But don't expect to sell if you change your mind - if in ANY doubt about staying here, then RENT! Under the new law you get a guaranteed five years - not three.

I admit that in isolated cases, you can buy at bargain basement prices and then sell a few years later at a profit but after allowing for the 19% costs, I'd have to say you'd be very lucky. And you'd have to be even luckier to avoid the Bargain Hunters' tax designed to make sure you don't profit!

There are very few choices to make a reasonable investment profit on savings and one of these might be precious metals especially if the mountain of debt that exists in the world catches up with the big banks! A.P.

South Africa has changed its rules such that if your not a SA citizen you cannot leave your property to a relative when you die. So the cheap properties with pools, tennis courts that people were buying with their retirement packages cease to be attractive.

Since the boom years prior to 2007 Spanish property has ceased to be an investment. Many will find hard to recoup the purchase price and taxes. 

The wise people who wish a holiday home in spain are finding a property they like and then rent it year by year. You then have a property in a location you like and it costs you far less than buying. You also dont have the rediculous costs and timescales of selling and dont have to be involved with Spanish inheritance rules.

Maybe time Ray to cut back 👍👍

We brought to enjoy from a 70 hour working week, on a 100 thousand € apartment it would need to go up by 20 thousand to break even ,  its taking 9 months now to get a holiday let licence,  after which you might get 20 weeks times €400 then less tax's ,  my advice is to just bloody enjoy it  great weather bars and restaurants lovely beaches and a lot slower pace (heaven).