what is the best european country to purchase property.
Where in europe is it better to invest in property?
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410manzanilla postedDo you intend to live in it? have it as a holiday home? rent it out permananetly to locals? rent it out as holiday lets?
What sort of timescale are you looking at - permanent ownership and live in / live off the rents? Sell in 5 / 10 / 20 years?
Have you any experience as a landlord? Any foreign languages that will help?
manzanilla
Posted on 01 March 2010 |
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3di1234 posted
Would like to keep it as a holiday home for now.
rent it out to only to people i know
a view to living in it in a few years time.
i have had a flat in spain before, only rented it out to people i knew.
i am currently learning spanish.
outright purchase under my name
Posted on 01 March 2010 | Love 0 loves
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41lovelindstrom posted
Yeah, agree with MikeGG1. I'm sure there are 2-3 countries that you're really most intersted in. Start with those and narrow the search down to country then town! You've got the love and tolerate the culture if you want to live there :) If you want to invest in that country, maybe buy shares or track its index?
Posted on 01 March 2010 | Love 1 love
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410manzanilla posted
If you are learning Spanish, then Spain is your answer! What you could nake the most capital growth from is largely irrelevant if it is to be your future home - you want somewhere that you will enjoy living, and if you already feel keen enough on Spain to tackle the language, then this will be a huge help.
If you think you may want to live in it permanently, then you have to look out for things like storage space that don't matter in a holiday let. Also you really want somewhere in a 'real' community, not on a holiday home estate, as you will want proper neighbours, not ever changing Brits on holiday.
manzanilla
Posted on 01 March 2010 | Love 1 love
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272Swarbs posted
If you are looking purely for a well performing investment, then you need to consider the balance you will take between risk and return. If you want high returns but don't mind taking a risk, go for Eastern Europe - beach resorts in Bulgaria and Romania. They will be much cheaper than Western Europe, with the potential to rise much higher in the future, but also the obvious risks of investing in a country where corruption is still quite high and infrastructure is not as well developed. In contrast, investing in France, Italy or Portugal is likely to provide minimal rewards, but there's little chance of making a loss if you can afford the mortgage and maintenance.
The one place in Europe I would not recommend investing in at the moment is Spain. Spain represents about 10% of the EU GDP, but has been responsible for 30% of the new homes built in the EU over the last ten years. There are also 1,000,000 unsold homes in Spain, whch is the same number as in the United States, but with around 15% of the population. Prices have fallen by 30%, but they still can't shift these homes. That's part of the reason so many Brits are having their homes bulldozed - it's as much to get rid of the oversupply as it is anything to do with planning regulations. The Spanish economy is in as bad a state as the Irish economy, but the Spanish government refuses to acknowledge it, so the problem is like a time bomb waiting to go off.
Spain is roughly 10% of the EU GDP yet it accounted for 30% of all new homes built since 200
Posted on 01 March 2010 | Love 1 love
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14DP130132 posted
Have you considered the Canary Islands?? Spanish protectorate, but self governing. Totally different from the mainland, cheaper, no VAT, only 5% local tax, good infrastructure, health service, many people come here from UK to have hip/knee replacements, cataract, CA treatments etc. Good cultural activities, petrol 80cents litre, no Council tax. Road tax 50Euros My town hall rates are 90 Euros PER ANNUM!! And the climate - bliss for your advancing years!! No traffic wardens, no cameras, no clamping, English Library with 40,000 books, 2000 DVD's etc.
Ignore 90% of Swarbbs note, as whilst some of his advice and opinion may apply to the "Costas", it certainly do not apply here. Take advice from those that have emigrated. We emigrated 10 years ago, and do not wish to return to our birth countries, ever. Tennis, bowls, barbecues, swimming, all year round
Recommend RENT for 6 months, - approx £500 per month all inc. - have a good look around, decide your area, and if this is what you want, go for it! Believe me, unless you want a "holiday box" amongst thousands of others in the South of Tenerife, prices for a proper spacious "home" are holding here. New building is very seriously controlled. Good luck!!
Posted on 06 March 2010 | Love 0 loves
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4skichampcouk posted
Why do you only want to rent it to people you know?
I have had a couple problems in the past when we have rented ours out to friends or friends of friends. It is far easier if things go wrong and you have a rental contract with somebody you don't know.
Posted on 12 March 2010 | Love 0 loves
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14DP130132 posted
In a modern exclusive development, as distinct from the blocks of "holiday boxes", most owners have a stipulation in their Community Rules, that owners can only allow use by "relatives and friends". This means that technically you should not commercially advertise holiday short lets. Most have strict rules of conduct for guests, visitors, non resident owners, and permanent residents alike.
Residents do not like owners who rent to persons who want all night parties, noisy drunken pool parties, night-time use of s/pool, loud music, hang clothes towels, on patio railings, have unruly children, dive and play noisy games in the gardens or pool, etc. In our development here in Tenerife, like most of a good standard, visitors must comply with the house rules. This protects the value of our investment.
Three permanent residents can complain to the police, who will warn, and possibly remove offending parties. The owner can be reported to the tax authorities who can delve into tax liabilities for commercially letting, without permission. A rental agreement/contract would be non enforceable.
Posted on 12 March 2010 | Love 0 loves
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0jhak posted
Hello DP130132, I am facinated by how wonderful the area you live in sounds. Please would you share with us which town in Tenerife do you live? I've been on holiday in Los Christianos but it didn't feel that welcoming to English people at the time. I hope to hear back from you soon.
Posted on 13 March 2010 | Love 0 loves
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14DP130132 posted
Hello jhak, I live 5Kilometers from Puerto de la Cruz, on the North coast of Tenerife, on the balcony of the Orotava Valley, with views of the mountains, 20 sq.miles valley, with sub tropical flowers, fauna, and palms, vineyards, farms, many miles of coast, fishing villages, and the sea to Island La Palma, almost 60 miles away. There is a monument nearby to Humbolt, the German exp-lorer who immediately fell on his knees and thanked god that he had found the garden of eden!! The Island is 90 miles long, 30wide, divided by the mountain range National Park. It is a shame when visitors only visit the South and S.West, (Los Christianos, Playa las Americas) which was formerly mostly desert, scrub, lava, which has now been extensively developed, some parts similar to " the Costas" of the mainland. 30 years ago I bought a small casa which I thought would be a haven for me one day. I have since "moved up" but always in this area. The climate is such that houses, cars, show very very little deterioration for years. If you are seriously interested in the island, way of life, etc.,and contact me at parkerdavid@terra.es I will be glad to answer specific questions. I could write you pages, but having had breakfast on the patio, it is 24C, sunny, clear air, I must away to the farmers market for our fruit and vegetables, etc. Do look up some of the tourist info websites. Hasta luego. D.P.
Posted on 13 March 2010 | Love 0 loves
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0Derek Farmer posted
Interesting topic. Anyone bought a property in Lanzarote in the Canaries??
Posted on 13 March 2010 | Love 0 loves
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2rggraham1947 posted
DP130132 said
"Have you considered the Canary Islands?? Spanish protectorate, but self governing. Totally different from the mainland, cheaper, no VAT, only 5% local tax, good infrastructure, health service, many people come here from UK to have hip/knee replacements, cataract, CA treatments etc. Good cultural activities, petrol 80cents litre, no Council tax. Road tax 50Euros My town hall rates are 90 Euros PER ANNUM!! And the climate - bliss for your advancing years!! No traffic wardens, no cameras, no clamping, English Library with 40,000 books, 2000 DVD's etc.
Ignore 90% of Swarbbs note, as whilst some of his advice and opinion may apply to the "Costas", it certainly do not apply here. Take advice from those that have emigrated. We emigrated 10 years ago, and do not wish to return to our birth countries, ever. Tennis, bowls, barbecues, swimming, all year round
Recommend RENT for 6 months, - approx £500 per month all inc. - have a good look around, decide your area, and if this is what you want, go for it! Believe me, unless you want a "holiday box" amongst thousands of others in the South of Tenerife, prices for a proper spacious "home" are holding here. New building is very seriously controlled. Good luck!!"
I would agree with most of that except "RENT for 6 months, - approx £500 per month all inc." For a long let you could expect to pay much less than £500 a month.
Posted on 15 March 2010 | Love 0 loves
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25wally144 posted
If you are learning Spanish, why not consider Costa Rica? I know it is a long haul, but if you plan to leave the UK permanently, there are few places that could beat CR.
The climate is warm all year, property is still very inexpensive compared to Europe, taxes and the cost of living are very low, health care facilities are excellent, and the people are friendly. And unlike other latin american countries, Costa Rica is politically stable. What more could you ask?
For more info, look up http://www.thingscostarica.com/
Posted on 16 March 2010 | Love 0 loves
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