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Holiday Home in Spain
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phil101
Posted: 17 January 2013 16:47:57(UTC)
#22

Joined: 13/07/2010(UTC)
Posts: 2
It does not surprise me that it is now very reasonable to rent near Estepona. I visited the area in 2008 at the request of client who wanted me to research suitable property investments.

I remember visiting Casares above Estepona and viewing the apparently endless golf developments that were being built and planned in the area. The agent tried to convince me that a two bed appartment would get 8oo Euros per week rental income in high season. No doubt it is a fraction of that figure today.

I advised my client that it was a huge speculative bubble and that he should stay well clear.
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rich banker
Posted: 17 January 2013 16:53:03(UTC)
#23

Joined: 07/08/2010(UTC)
Posts: 5

Thanks: 1 times
Was thanked: 2 time(s) in 2 post(s)
Just for holidays may or may not make sense depending on usage although they can be let out easily yourself via sites like www.ownersdirect.co.uk and provide a good income to defray running costs.

I speak as a villa owner and having bought the plot and built my own design before boom it still shows a huge profit. But then I am now retired so I get loads of use out of it as well. Its around 20degsC on the Costa Blanca at the moment. Reason enough in freeezzing dismal UK.

However buy well and do not get carried away and leave your brains at home as sharks abound on the costas.
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1 user thanked rich banker for this post.
PeterBill on 19/01/2013(UTC)
Olwin
Posted: 17 January 2013 17:06:04(UTC)
#24

Joined: 10/01/2012(UTC)
Posts: 1

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My tuppence worth :
I bought during one of the last crises in 1996 from a bank who had seized the apartment . Since then we have spent on average 4-5 months per year in Spain and our children a further 1-2 months . Getting away from the abominable weather in northern Europe has been a godsend . The Costa del Sol ( especially between Malaga and Marbella ) is pretty active for expats in winter - because of the better temperatures etc plus there's so much to do . Dont be tempted to go elsewhere - other areas dont waken until Easter !

Buy or rent ? At this point I'd say rent and look around at the many bargains to be had . Buy if you like the life etc and you can take a 10- year view and buy an apartment above the 2nd floor level where you can just shut the door and go home. Not all solicitors are crooks , not all tradesmen are dishonest and not all estate agents are property sharks but , as in other countries , look out for potential trouble.

My likes - good coffee @ €1 / cup , meals - €25 - 3 courses with wine , English theatre , carpet bowls , golf - €30 ( if you know where to go otherwise expensive ) , bridge , U3A , etc

Dislikes - cant think of any .
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2 users thanked Olwin for this post.
murry evans on 20/01/2013(UTC), Guest on 20/01/2013(UTC)
peter hart
Posted: 17 January 2013 17:07:51(UTC)
#25

Joined: 18/10/2010(UTC)
Posts: 23
A friend of mine has two villas in Spain. He lives in one and rents the other. He would like to come back to the UK but cant sell them for love or money, well maybe love.

Rent dont buy.

And its true lawyers in Spain are not all they should be. Thats an understatement by the way.
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Dislexic Landlord
Posted: 17 January 2013 17:20:48(UTC)
#26

Joined: 28/02/2008(UTC)
Posts: 15

Was thanked: 4 time(s) in 2 post(s)
If you want to live in Spain Rent

If you want to invest

Invest in a country where you know all the ins and Outs

Maybe the UK

Best of luck
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2 users thanked Dislexic Landlord for this post.
colin wilson on 20/01/2013(UTC), Zaydac on 21/01/2013(UTC)
andrewva vaughan
Posted: 17 January 2013 19:48:13(UTC)
#27

Joined: 20/02/2012(UTC)
Posts: 3

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Was thanked: 2 time(s) in 1 post(s)
The member asks its now time to buy a bargain hoilday home for cash answer is simple NO i think the spanish house market will fall another 20% then you need to very careful look at sites where people have be ripped off and learn from their mistake chose a spanish lawyer that also got offices in this country they more expensive but u got piece of mind
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2 users thanked andrewva vaughan for this post.
Guest on 25/01/2013(UTC), Daniel Mueller on 24/03/2013(UTC)
In the Dark
Posted: 17 January 2013 22:21:37(UTC)
#28

Joined: 26/11/2009(UTC)
Posts: 4
It is nice to know that Spain is in people's sights for a bargain. However, buy beware. Do not do in Spain what you would not do at home. Research s the key and a good independent solicitor is a must.

Reading through some of the messages there is the usual anti but there is some good advice comming your way. From my understanding of the market time is on your side, I do not believe that prices will rise in the next couple of years, so take you time and research your market

Here is my plug, you can always rent my Spanish apartment while making your mind up, here is the link

http://www.rentalsystems.com/book/spanishgetaway/

Happy hunting.


PS, £50000 will buy quite a few Vodafone shares that return approximately £2500 - 3000 pa, which may buy you a reasonable holiday every year, well 5 - 6 months rental of my apartment for sure.
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Lady Luck
Posted: 19 January 2013 13:01:09(UTC)
#29

Joined: 21/12/2011(UTC)
Posts: 5
Have you considered the Holiday Property Bond?
http://www.hpb.co.uk/howitworks/

I've been a member/bondholder for many years and never regretted investing.

You can take extended breaks, which are discounted. The tenancy properties might suit you best however - these are not owned by the bond but are private owners who offer properties to bondholders. This takes the risk out of renting an unknown property as HPB have already vetted and approved the property.

So you have your investment but are not tied to one place with none of the responsibilities of owner ship either.

Just a thought!
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PeterBill
Posted: 19 January 2013 13:39:26(UTC)
#30

Joined: 26/01/2012(UTC)
Posts: 9
It depends if you want to go to the same place time and again. If you are happy doing that go for it ... But if an investment ... Think again.

There is council tax or rates to pay, all your utilities, and if something is wrong you have to deal with the repairs.

I've considered it, with all the bargains available, but decided to put the ammount involved into various fixed income investments and use the proceeds to go on holiday.

If it's a retirement home, thats another story.

We live in Scotland and decided to buy a holiday home in Edinburgh near all tourist attractions and will it will be available for rent when we are not using, hopefully it will help pay the upkeep.

I feel that if your holiday home is closer to home, you would have more control on looking after it. Also inclined to use it more.

We are also considering holiday swaps, but have not done any yet.
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FRANK JAVEA SPAIN
Posted: 19 January 2013 15:41:31(UTC)
#31

Joined: 19/01/2013(UTC)
Posts: 1

Was thanked: 1 time(s) in 1 post(s)
Do not buy in your name if you have children over 16 years old, let them get an NIE NUMBER WHICH IS Necessary to own property in Spain Obviously their is a danger if one of your siblings goes through a divorce later! Remember their is inheritance tax on the first death not like the u.k where assets can be transferred between Spouses.Make a will in Spain the last sentance to say your will will be dealt with in the UK! It is possible to purchase the property through a uk trading co. ltd ( wincham investments specialise in this ,they are based in cheshire) Their is a school of thought amongst expats and experts that this may or may not work!(ltd tradind co I am told is different to a normal ltd co.
The Spanish levy a notional tax which is based on the rateable value of your property which is the equivalent of what they estimate two weeks income would be if you were to let your property too friends or relatives ( not commercial letting ),this together with the accountant/bookeeper fee has too paid by the last day in December ( THEY WILL FINE YOU)

I f you do not want to to do it like I have described above then put all of your children on the deed and pay the asking price on the sale,do not pay any cash as they will get you with capital gains tax when you come to sell! Get a recommend solicitor, ask @ the local U3A MEETING IN Spain.
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1 user thanked FRANK JAVEA SPAIN for this post.
Daniel Mueller on 24/03/2013(UTC)
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