Posted: Thu May 7, 2020 11:23am
Of course - but that would really apply 'anywhere' - a young couple (as an example), are not likely to have the same taste as a generation or two above them. If you are 'bargain hunting' - there's rarely a time when a compromise or additional works are not involved.
I've been looking at properties in Alicante - the less salubrious locations just outside the town centre, but with the access to bus/transport are very popular with local workers who rent. Properties from around €25,000 for a 2 bedroom, mostly in fairly grotty old apartment blocks and need a quick 'blow over'. Why worthwhile - €250 a month rent, easily filled, from 25k investment - factoring in rental company charges, that's a 10% return PA and as the property is already at the bottom of the market, it's only likely to go up. If it went up 5k in 5years, that's another 5% on top of your 10% p.a. Not something you would live in - but the question was originally a property bargain. This return wise is a lot more - over double you would expect for an average rental yield in the UK and that's with a 25k + expenses buy-in - not a chance in the UK of getting close to that!
So yes, bargains and money to be made - but there's a difference between an 100% unemotional investment and bagging yourself a cheap nice villa for personal use.