04 Jan 2023 10:44 PM:

@acer, good points.  I am surprised you would treat lettings as zero, you must feel that there isn't much point in renting out especially as I wouldn't be resident.  But you have invested in Spain for 40 years !  I am  was only looking to buy once, not like here where I am happy to buy-sell frequently, and then use rent to give us some extra money along with the rent here.

@ windtalke - I have had this reposnse before about the higher rents - I have rented in Spain during the holiday period in june usually so not even peak period and the properties rent for at least 800 euros a week from what i can remember.These are in the provinces of cordoba and seville and sometimes malaga - inland though.  Yes they are 2-4 bed villas with gorgeous views and a pool.  In thos areas such as Iznajar which is in the south of the cordoba province the prices for such villas which we have viewed range from approx 175 euros to 275, some go up to 300k but they are absolute beauties.  The ones you talk about will be on the coast which I have not interest in.  I am only interested in rural andalucia.  Ones on the coast or with a coast view cost more yes in the region of 300-400k.

some good numbers info on tax, management company etc - very useful.

same for Kavanagh.

 

to summarise - you have all succeded in pushing the needle over from 'buy' to 'not buy' ! especially for letting out purposes, I suppose if I don't let out that gives a lot more options.  i think becuase of the area I want to buy in and the fact that I don't want to live there permanently and would need someone to manage the property, this kind of outweighs the positves which would be a source of income, investing in something somewhere whilst interest rates are high here, the cold weather here in winter which does me in being half spanish etc.

Thread: Advice on Buying a property

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04 Jan 2023 9:35 AM:

Hi, I have posted on here before with the same concerns about buying in Spain.  Many people do it and have the reservations or pesimism I have experienced on these chats.  Its good to get both sides of the story but very hard to pursue a decision. I was told last time that investing in Spain is a bad idea.  But I thought afterwards this must depend on what you mean by 'investment'  I would agree that buying and selling in Spain as I do here in England (which is highly profitable of course) is not a good investment in spain but, I think if you intend to keep your property then from what I have experienced in the many years I've been going to stay in villas in Spain, the rents are about 800 euros a week peak time and i suppose 400 non-peak (ie xmas), they earn good money, I'm just wondering how much tax and expenses come out of that, is it really a bad investment if you aren't buying and selling property ?  I wouldn't be living there either - just the 90 days a year at most and the rest letting out.  My main concern is the pool which is a must for letting but is a drain on resources - thoughts ?

Thread: Advice on Buying a property

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05 Sep 2022 1:44 PM:

Thanks for those most valuable posts providing information  that's so hard to get otherwise.  What you see on the Internet is possibly always over positive.  So I'm glad you gave  it to me in black and white!!
 

Saying that I am not just looking to buy and sell in spain, I am looking to have a permanent holiday villa where I can spend my holiday and manage my portfolio over here. I would like it to provide an income though and not be too much of a burden.  A big concern was  managing it whilst I'm not there especially with a pool.  And especially in the rural areas I would want to buy.  

 

I suppose I was turning to Spain  again instead of investing here as the interest rate was creeping up which means leveraging less which is  not what I want to do as an investor of course.  Tough times ahead I suppose.  
 

I'm almost convinced not to invest in spain now after getting to know the harsh truth.  
 

Thanks for advice 

Thread: Help on mortgages and management

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04 Sep 2022 6:17 PM:

Hi Windy, that is sound advice and I sort of reckoned on about the most investment from my part being about 50% of the villa price from previous research.  The issue is just getting the mortgage.

Er Kavanagh, I think you might be a tad pessimistic.  I am an investor, I have a portfolio here in England doing very well, and I am looking to invest in spain which I am sure is also a solid investment, there are always freak events that adjust the market but I certainly wouldn't say don't invest in something just because there maybe some freak event in ten years time, everything evens out (troughs and booms).  The holiday market in Spain has and always will be a very sound source of income, Andalucia is still a great place to buy a second property.  I would buy the property outright but would rather get a bank to lend and have a vested interest to minimise my exposure to risk.  That alongside with the fact I want to further invest here in England and not have to shell out so much in Spain just because I can't get a mortgage.

Thread: Help on mortgages and management

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02 Sep 2022 7:43 PM:

Hi.  Yes any mortgage advice for my particular position would be most welcome.  That way I could make an informed decision on whether to go ahead with a mortgage.  I'll wait to see if I get any more bites on here and perhaps look 'Smiley' up.  

Thread: Help on mortgages and management

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