Join the Alicante City forum
My name's Alex and this is my website all about Alicante City in Spain. Register now for free to talk about Introduce yourselves in Alicante City and much more!
Hi
I would like to buy a property for investment in Spain, ideally near the beach. I need to buy the property with mortgage. I am looking for the purchase price around 50.000€. Do you think investing in Alicante or Almeira would be a good choice. I really appreciate you advice. Thank you.
Posted: Wed Oct 31, 2018 11:58pm
Very helpful member
Bad idea.
Anything you buy is subject to 12% add ons. Your property will never increase enough in value to recover this 12%. Ergo you won't make any money
Spanish property market is flat
The impacts of Brexit are not clear yet
In terms of rental any property worth 50k isn't going to be attractive as a holiday let.
Long term let. Maybe, but with a total purchase around 56/57k. Best you would get is around 5% yield.
Posted: Thu Nov 1, 2018 9:10am
Super helpful member
12% of 50k is 6k, not 12k......
Posted: Thu Nov 1, 2018 9:27am
Helpful member
I have properties in UK which i rent out and villa here. The villa i have in spain was not bought to make profit. Never gonna happen. In fact ive spent far more money on it than it is worth. The villa will be here for family when i go.
If you can, invest in the UK. Even if prices go down they will go back up. Also you can keep your eye on it. Maybe you can get part rent part buy.
There is no money to be made in spanish property.
Just my opinion
Regards
Posted: Thu Nov 1, 2018 10:38am
you are absolutely right
Advertisement - posts continue below
I agree with the above, buy to enjoy not to invest regardless of sales pitch.
Abali18 wrote on Wed Oct 31, 2018 11:16pm:
Hi
I would like to buy a property for investment in Spain, ideally near the beach. I need to buy the property with mortgage. I am looking for the purchase price around 50.000€. Do you think investing in Alicante or Almeira would be a good choice. I really appreciate you advice. Thank you. &nb...
Read more...
...sp;
Hi,
If you want to have a place in the sun to use personally and are looking at a "long term investment" then go for it. Spanish property in Alicante and Almeria will never be cheaper than it is now, but don't expect massive yields just try to cover your mortgage costs with holiday rentals, enjoy the weather and ability to book a flight and go whenever you feel the urge.
Posted: Sun Nov 4, 2018 9:48pm
Thank you all for your support.
Posted: Mon Nov 5, 2018 6:50pm
Helpful member
I agree with all the above. Spanish properties rarely increase in value.
We bought ours 12 years ago for 125,000€. Over the years I kept an eye on neighbouring properties being sold, some were sold for as low as 60,000. The prices have now increased to about 83,000, still a big loss.
If you do holiday lets you have to pay tax on rental income of 19%. You also need a rental licence nowadays.
I would invest in U.K. property if you can get a mortgage.
Sorry I disagree, yes for those unfortunate to buy a few years ago are now suffering large losses.
However, I don’t feel the property market will drop any more...in fact, an apartment we bought 2 years ago has recently been valued at 10,000euro more.
Personally I think it’s a buyers market...but definitely a risky market.
Find more Introduce yourselves topics from a particular area:
Or view all Introduce yourselves topics in all of Costa Blanca.
