Formentera de segura

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This topic contains 6 replies, has 5 voices, and was last updated by Profile photo of Anonymous Anonymous 7 years, 5 months ago.

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  • #55095
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi All

    would be buying an apartment in formentera de segura (costa Blance) to be used as a holiday home plus a holiday rental home. here are my questions…

    1. is any one familiar with this area?
    2. good rental posibilities?
    3. can anyone recommend a good estate management company in the area?
    4. how much (roughly) is apartment maintenance fee eg. for cleaning and lights in the public areas…
    5.. any good place to get furniture?

    lots of questions…sorry…

    Thanks for all the info

  • #93216
    Profile photo of Anonymous
    Anonymous
    Participant

    “2. good rental posibilities?”

    There are thousands of rental properties in the area, check holidaylettings or other rental site.

    Most of the rentals have zero or very few bookings (unless the rental price is more or less equal to the cost of utilities and community fees, which implies no gains)

  • #93057
    Profile photo of Anonymous
    Anonymous
    Participant

    “2. good rental posibilities?”

    There are thousands of rental properties in the area, check holidaylettings or other rental site.

    Most of the rentals have zero or very few bookings (unless the rental price is more or less equal to the cost of utilities and community fees, which implies no gains)

  • #93217
    Profile photo of katy
    katy
    Spectator

    Estate agents/management companies will tell you they can get lots of rental at good rates. Infact they will promise you the world to sign you up, beware!

  • #93059
    Profile photo of katy
    katy
    Spectator

    Estate agents/management companies will tell you they can get lots of rental at good rates. Infact they will promise you the world to sign you up, beware!

  • #93220
    Profile photo of Anonymous
    Anonymous
    Participant

    Just to echo what the others have said.

    – In the current climate and for the forseeable future rental income will most likely be minimal. Do not believe what agents tell you, read up on the market yourself. Also there are a number of schemes around offering ´guaranteed rental income´, these are almost all sham.

    – In short, do not buy unless you have the means to fund the purchase without resorting to rental income. Be aware that property prices are tumbling on most of Spain. Your property will almost certainly be worth less in a years time than it is now.

    – You/your solicitor should be able to find out what the community fees are. You should also obtain the minutes of the last community AGM.

    Do your research before putting pen to paper.

  • #93236
    Profile photo of Anonymous
    Anonymous
    Participant

    Yeh, please don’t think of Formentera del Segura as a good rental area. Know it like the back of my hand – property is cheap but there are many to rent and the return will be very poor.

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