Spain as an expat or holiday destination 10 years from now?

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This topic contains 37 replies, has 12 voices, and was last updated by Profile photo of Anonymous Anonymous 6 years, 8 months ago.

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  • #55508
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    Anonymous
    Participant

    We are in the depths of an economic crisis so I doubt this period is representative of how things will be in 10 years time. Of course we may be back in another spectacular recession by then, but let’s just assume not. When I look back 10 years it always amazes you me how much has changed. I assume it will be the same feeling in 10 years time.

    I’m interested to know what you all think will happen to climate migration when the recession ends. Will the number of northern Europeans, predominantly British, moving to Spain pick up again? Is the dream of a active retirement in the sun still there, or has it disappeared along with the dream of getting rich out of property using other people’s money?

    If millions of Brits still dream of spending some or all of their retirement in Spain, then all is not lost. If the dream has gone, then the problem is much bigger.

    Mark

  • #97718
    Profile photo of katy
    katy
    Spectator

    Wow, tough one!

    I think at the most optimistic that people will still want to retire to Spain, mainly because of the weather. I don’t think the market will ever reach the heady times when young families were moving to Spain in their thousands. It was just a bubble, fed by TV programmes etc.

    During the time we had a property in Spain I have seen a few blips re. tourists coming to Spain (I do think there is a link between tourism and the property market). What happened there would be a mini-boom, new apartment blocks appeared, restaurants and Hotels became intoxicated with success, prices rose and service dropped. People went elsewhere and property sales fell. Gradually the Costas would become competitive again when desperation set in and people flocked back.

    Spain’s popularity was sliding down well before the credit crunch, at least on the CDS it has been visible for a few years before. People staying away from Spain has nothing to do with the recession, just their way of putting their heads in the sand and blaming world conditions!

    My own view would be coloured by my experience. I think most of the Costas are ruined but someone say living in a Northern city or an inner city housing estate may think it’s super. I think sales will just become a trickle even in 10 years time. What also should be taken into account is that many Spanish moved to the coast in boom times, many of them are also moving out. Some spanish friends have moved to New Zealand.

  • #97720
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi Mark,

    I think the luxury of owning a second home in the sun is one that many can no longer afford what with rising prices of flights to get to their home in the sun, wage cuts, mortgage rate increases – these are things that are current I know but in the long term I think people will think long and hard after this recession before jumping in. It is not just the purchasing of the property it is also the maintenance, utility bills, community fees, suma, bank charges, La Renta Tax and all that go with owning a second home. I have owned a property for the last 5 years in spain, currently have it for sale. I will certainly return to Spain to holiday but as a renter not as an owner!

  • #97721
    Profile photo of katy
    katy
    Spectator

    Angela I know what you mean. A Dutch friend sold his apartment last year. A swish complex with high community fees. He came out in winter and rented in the same block. He thought it wasn’t worth the hassle and cost of ownership as they only came out about 6 weeks a year.

  • #97722
    Profile photo of Anonymous
    Anonymous
    Participant

    i think alot depends on the pound if it stays weak you may see a well of few buy for lifestyle but gone will be the days of selling up over here and retiring on you pension.i was going to buy but am seriously considering weather or not it is worth it.in recent years i have been spending around £2500 a year renting and thought this offset against a mortgage and with abit of rental,and me spending more time out there in the future it would in the end be worth it but with taxes of all sorts rising am now not so sure.

  • #97725
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi all,

    When we bought 5 years ago we thought it was for longterm and hopefully would be there for our retirement to use as a holiday home. Times have changed and so have priorities, we could rent out our property long term no problem but for what you would get it would not be worth it. We will be taking a hit of E80,000 when we sell but factor in the mortgage repayments over the next couple of years on an asset that is depreciating – I think I’d rather bite the bullet now. If you are considering buying now – prices have never been as good and you can bag yourself a right bargain but you can also rent very cheaply for short term holidays and longterm.

  • #97735
    Profile photo of Anonymous
    Anonymous
    Participant

    We came to Spain many years ago, and bought our present house 12 years ago. I watched the vast influx of British expats when the pound stood at more than 1.50 Euros and even more in the Peseta equivalent. Many failed to take into account the pound’s downturn, especially those coming over on a shoestring.

    Things are levelling out now, but nobody knows the stage we’ve reached, and the British are no longer arriving in great numbers. Over the last two years, we’ve had to consider alternatives, but quickly ruled out a return to the UK. We looked at Bulgaria, Cyprus and Florida but found that they were not for us.

    So we intend to stay in Spain and are looking forward to the next ten years. We intend to downsize because our family circumstances have changed, but will stay within Spain. The CDS was a destination we seriously considered, but every time we found a suitable property, either we, or our solicitor found some fault with it, and with the unpredictable Junta, we stopped looking down there.

    The same thing happened when we looked inland and read the newspapers, there were pending disasters everywhere. We found Catalunia too nationalistic and the north too cold. It still leaves a vast country to explore or we could stay in the Valencian area.

    I think British people will keep coming over, and their numbers will increase again, there are no better alternatives for us.

  • #97737
    Profile photo of peterhun
    peterhun
    Participant

    The past is no guide to the future.

    Spain is an expensive expat destination for anyone looking forward. Over the next 10 years, rich home-owners in Spain will be taxed heavily to dig Spain out of its financial mess and to provide on-going funding to overcome its lack of competitiveness or alternative sources of income. Something has to replace the income from property sales, why not the existing foreign owners with their bottomless pockets?

    It will still be a desirable holiday destination for some, but probably not for the British who will be suffering their own lost decade.

  • #97738
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi Guys,

    It is not just the british that will be slow to buy – the Irish will also be slow to buy. Rocker was talking about other destinations, Bulgaria, Florida. Funnily enough we bought an investment property in Bulgaria, excellent frontline and have since sold it. It wasn’t half as costly to run as spain with regard to the taxes, bills etc you pay in Spain, we got good long term rentals with no problem. We sold and made a profit that was 16 months ago – I know someone else selling in the same apartment block now and his property is sale agreed and is making a profit on what he purchased for.

  • #97739
    Profile photo of Anonymous
    Anonymous
    Participant

    Once the reactionaries in the Junta de Andalucía are reamed out (by the imperious logic of economics) and the disgraceful concept of declaring hundreds of thousands of legally-bought houses to be illegal is put in the dustbin, then I am convinced that Southern Spain will once again become the ideal destination for home-buyers.
    What’s not to like? Great weather; an endless variety of geography; friendly people; a good, safe and healthy lifestyle…
    It’s the Florida of Europe.
    And, like Florida, the local people must relinquish control of their small feudal holdings and allow us – the Europeans – to take the pueblos into the 21st Century (¿a que sí?).

  • #97741
    Profile photo of katy
    katy
    Spectator

    Doesn’t exactly have Florida climate and it is almost as cheap to go to Florida. Cheaper for a golfing holiday and better quality Hotels.

    As one 5* Hotel owner said last week when explaining some of the reasons why the luxury Hotels are struggling

    “Spain is not a winter destination for the rich”
    “People who pay for luxury do not just want a luxury Hotel, they want nice surroundings, not blocks of concrete overlooking their terraces.

  • #97742
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi

    Spain as a product within the holiday market will suffer or benefit like all other areas in a recession and in a recession all markets polarizes, in other words customers either go cheap and cheerful or upmarket (experience etc). My view is that Spain has in the past been the exponent of the cheap and cheerful, and I am aware of a neighbour who would normally go to a mid price, middle ground type holiday in a hotel, has booked a week at Easter in Torremolinos. She and her husband just want a break away from the weather here in the UK and rather than spend the money decided to go cheap and cheerful. Their expectations are limited to just having a break in half decent weather and at Easter I’m sure they will be happy with what they get at the price they have paid.

    I think Five Star will do badly in Spain in the recession the experience doesn’t warrant the spend.

    Regards

    Paul

  • #97745
    Profile photo of katy
    katy
    Spectator

    The Marbellis complain they are now only getting “La gente tuppaware” not the class of people that used to visit.

    The dream of retirement in the sun was a lot more viable 15 years or so ago. For the price of an average sized UK house it was possible to buy a villa with pool on at least 1000M2 plot with great sea views, cover moving expenses, new car and still be left with a decent capital. My Parents bought a villa in El Rosario (Marbella) in the 80’s for around £70,000, the same ones are now asking from 850,000 to 1.2 million euro. A bit out of the price of an average retired person. Now Spain is different, will be impossible to get back to that cost of living being linked to the EU.

    Saw today that the average price for a house in the UK is £164,000, therefore if an average person wanted to retire to the CDS what would they get at the present time….not a lot including the 11% oncosts. They would effectively be lowering their standard of living for the same price.

  • #97752
    Profile photo of peterhun
    peterhun
    Participant

    “Saw today that the average price for a house in the UK is £164,000, therefore if an average person wanted to retire to the CDS what would they get at the present time….not a lot including the 11% oncosts. They would effectively be lowering their standard of living for the same price.”

    Plus, look at the situation for a first time buyer in the UK, its going to cost six times earning to buy a house in the UK there is no way they would be able to afford a second home in Spain. British prices are unviable for the UK market but it took a UK house price boom to allow equity release into Spain. This cannot happen again (for decades) unless there is a massive price crash and another boom. Owners in Spain are in general going to be dying off and attempting to sell to market that has vanished. And Spain is a obviously most desirable for the countries that are physically close, eastern European countries whose economies have far more potential for a boom will go for the Eastern med or Black Sea.

  • #97754
    Profile photo of Anonymous
    Anonymous
    Participant

    To return to expats rather than holidaymakers, and ignoring those who regard houses abroad as investments, then the ordinary expat has limited choices. Immigration to the US is difficult, as is permanent living there; Eastern Europe is for the brave and possibly foolhardy; and Cyprus is an uncertain place.

    France and Spain are the usual destinations, tried and tested, the third and fourth biggest economies in the EU. Out of the two, in my view, the Spanish are friendlier and their country is a few degrees warmer and much less populated.

    An ordinary expat, who is properly prepared and intends to start off by renting, doesn’t need to sell his home in the UK and if he goes to a place already settled by others like him, like the Andalucian or Costa Blanca coasts, really only needs his passport and credit card before embarking on a two-hour, cheap flight. He can then stay as long as he wants and get to know what could be his future home.

    I would agree that selling up in the UK and buying on an unfinished development in Spain is daft, and surely all the news programmes of the past few years have put a stop to that?

  • #97756
    Profile photo of katy
    katy
    Spectator

    To return to expats rather than holidaymakers, and ignoring those who regard houses abroad as investments, then the ordinary expat has limited choices. Immigration to the US is difficult, as is permanent living there; Eastern Europe is for the brave and possibly foolhardy; and Cyprus is an uncertain place.

    Yes I agree, immigration to the USA is almost impossible unless you want to start a business (although it beats buying a bar in Spain 😆 ) Most other countries are going through the same problems as Spain. France is much less spoilt than Spain (trouble is French people live there 😉 ) Greek Islands seem stable and the ones I have seen haven’t gone down the spanish route.

    I still think there is a link between holidaymakers and ex-pats, if there are less taking their holidays there surely less prospective purchasers. Quite a few have taken holidays in a resort and thought…wouldn’t it be nice to have a place here……..

  • #97761
    Profile photo of Anonymous
    Anonymous
    Participant

    Currently Spain almost seems to be on self-destruct. Instead of attempting to instil buyer-confidence for the future, they’re letting corrupt officials off the hook and still threatening to pull down more foreign-owned properties despite having a legal building licence issued by their own Town Halls. It seems the penny still hasn’t dropped. This whole sorry saga will leave a bitter taste that I think will last for many years to come. Don’t forget that everyone ‘bitten’ by all of this have countless friends and relatives who will know about their stories first hand.

    How this will effect Spain ten years down the line I don’t know, but if Spain is not careful it will end up having a reputation of being a country like Bulgaria, Turkey etc. where buying there is a risk. I know Spain has good weather (but it’s not unique in that) and some beautiful areas but for unspoilt coastal beauty, Greece knocks the socks off of Spain.
    There is competition out there for Spain so for it to sit back and assume that people will eventually come flocking back regardless of it’s often reckless behaviour towards purchasers will be a dangerous mistake.

    One country I never hear anything bad about is Croatia. I may be wrong but they seem to be doing everything right. My cousin having bought a holiday home there five years ago is certainly very happy.

  • #97762
    Profile photo of Anonymous
    Anonymous
    Participant

    I agree that many people may have been persuaded by a pleasant holiday experience to consider investing or living permanently in such a place, and from the sixties onwards Spain was my family’s most popular destination, and not just because of the cheapness.

    It was also a question of language, there are as many Spanish speakers in the world as English ones, I think about 750 million each, so it was a language for travellers, more so than the French or German languages with far smaller numbers and limited use outside Europe.

    Language doesn’t matter for holidaymakers, but it’s essential for permanent living abroad. I learned some French at school, but in later years decided to move to Spain (having tried France, briefly), and the school French helped a little with the grammar.

    But for the million British people who came to make their home in Spain, was it just the weather and the cheapness? Or some herd instinct – family, friends and neighbours have already moved there? Or Franco leaving the stage?

    Much as I don’t want to admit it, but I’ve just looked outside at a blue sky and rising sun, and having watched the BBC about cold and snow earlier; I may just be a weather expat. I suspect I’m not the only one.

  • #97769
    Profile photo of Anonymous
    Anonymous
    Participant

    Hi Rocker,

    If you are living in Spain on a permanent basis things are slightly different than owning a second home there so for people like myself Spain can be an expensive option – taxes and I suspect it is going to become more expensive for non-residents and perhaps residents. The banking system there seems to charge what the like. I like the spanish language myself. I like the people, culture – Spain has a lot going for it and the infrastructure is good. But I do think for non-residents it isn’t as attractive now that people have less money in their pockets to buy in spain when it is nearly cheaper to rent and go to other holiday destinations – the sun shines in other countries also!

  • #97770
    Profile photo of angie
    angie
    Spectator

    A TV prog. recently showed lots of Brits wishing to move abroad, however, they wanted to go to Australia, Canada, NZ, The States etc. They were mainly the age group looking to emigrate properly and work abroad but there were older people too wishing to retire. No-one was there for Spain it seemed.

    There can’t be many Brits now in a position to buy a 2nd home in Spain with the UK’s recession affecting them. Few would be able to re-mortgage their UK home to buy in Spain as happened in the Boom.

    All of Spain’s bad Press especially with it’s corrupt property industry, plus the huge overhang of unsold properties estimated at over 1.5 million, the increased cost of living in Spain, the large completion costs of buying, current exchange rate etc all make for a rather negative outlook. The main positives have to be weather, distance to UK and glut of choice for property (providing these are legal)

    IMO the problem for Spain is going to last a very long time.

  • #97772
    Profile photo of Anonymous
    Anonymous
    Participant

    @angela wrote:

    Hi Rocker,

    If you are living in Spain on a permanent basis things are slightly different than owning a second home there so for people like myself Spain can be an expensive option – taxes and I suspect it is going to become more expensive for non-residents and perhaps residents. The banking system there seems to charge what the like. I like the spanish language myself. I like the people, culture – Spain has a lot going for it and the infrastructure is good. But I do think for non-residents it isn’t as attractive now that people have less money in their pockets to buy in spain when it is nearly cheaper to rent and go to other holiday destinations – the sun shines in other countries also!

    I agree, it must be more than just the sunshine. I’ve been to Morocco a few times, it’s much cheaper than Spain and gets even more sun, but I don’t think I could live there.

    It’s Semana Santa here and the colourful processions will go on all week. The sense of family is astounding, so much better than in the UK. People are more prepared to help each other and the young people are not as violent, generally.

    But it also still comes back to the weather and warm sea too, if the west coast of Ireland was 20 degrees warmer and the Atlantic warmed up as well, I believe the coast would have been concreted up the same as here. I would probably be living there right now.

    On a serious note, people from other parts of Spain, the great majority of people, can’t believe what has happened to parts their coast – it’s acceptable in Benidorm as a sort of one-off, but not along the many miles between Alicante and Orihuela, or from Malaga down to Gibraltar.

  • #97773
    Profile photo of Anonymous
    Anonymous
    Participant

    [quote=”Rocker
    I agree, it must be more than just the sunshine. I’ve been to Morocco a few times, it’s much cheaper than Spain and gets even more sun, but I don’t think I could live there.

    It’s Semana Santa here and the colourful processions will go on all week. The sense of family is astounding, so much better than in the UK. People are more prepared to help each other and the young people are not as violent, generally.

    But it also still comes back to the weather and warm sea too, if the west coast of Ireland was 20 degrees warmer and the Atlantic warmed up as well, I believe the coast would have been concreted up the same as here. I would probably be living there right now.

    On a serious note, people from other parts of Spain, the great majority of people, can’t believe what has happened to parts their coast – it’s acceptable in Benidorm as a sort of one-off, but not along the many miles between Alicante and Orihuela, or from Malaga down to Gibraltar.[/quote]

    I have to agreed that one thing I love about Spain is it is very family orientated – much more than here in Ireland and yes the young generation are not as agressive and violent – I feel save walking with my family when out and about. The one place I would go back and live permanently if all went belly up here in Ireland is Perth, Western Australia.

  • #97775
    Profile photo of Anonymous
    Anonymous
    Participant

    I got to thinking about investing in Spain for the long term, and I think it still works. Near to where I live are many holiday homes mostly owned by Scandinavians. They don’t rent them out and only use them for themselves and close family.

    They were bought around 30 years ago for something like £10,000, and are currently selling for £400,000. I’m able to compare that to a house I bought in the UK 30 years ago, which has increased tenfold in value since then. The Spanish increase is forty-fold.

    I know it’s a simplified example, missing out many other factors, but the figures are real ones.

  • #97777
    Profile photo of katy
    katy
    Spectator

    Rocker, that is true. We sold a villa bought 11 years ago. Even though we sold substantially below the valuation of 2 years ago in real terms we have made a very good profit. Helped by the currency rate of course. You need to take into account that what happened may never happen again and prices may still be falling. Also a Spanish property built 30 years ago will have (presumably) had a few refurbishments to add into the cost. If not can’t imagine what state they will be in

  • #97779
    Profile photo of Anonymous
    Anonymous
    Participant

    Katy, One of those houses, a holiday home owned by Spanish people from Bilbao, was recently put up for sale and all the nosy neighbours, me included, went to view it. Apart from being painted a couple of times, it hasn’t been touched for thirty years, and it’s the only house around without a swimming pool. It’s 180 metres built on a 1,000 metre plot, but they’re asking 460,000 Euros which is overpriced by about a 100K.

    They don’t care, they’re here for Easter, I saw the expensive cars parked outside this morning and they’ve taken down the For Sale sign.

  • #97782
    Profile photo of Anonymous
    Anonymous
    Participant

    This is a question of relative asset values.

    30 years ago, all Spanish property was cheap compared to all British property.

    Now, it totally depends what and where.

    Prices in places like Marbella and other desirable coastal hotspots have gone up many times more than property prices in many parts of Britain over the same period.

    There was a one-off killing to be made, as relative asset values responded to fundamental changes in politics, society, technology, travel, demographics, et. I don’t see it happening again.

    Mark

  • #97798
    Profile photo of angie
    angie
    Spectator

    Have just watched the programme ‘A Place in the Sun, Home or Away’ on Channel 4, showing Dorset and S. West France although it’s 2 years old, typical Channel 4 and their repeats. Location, Location is another boring same old format programme.

    I thought it was pretty boring and think that these sort of programmes whether UK or abroad have lost a lot of their appeal and credibility, they’ve been done to death I think.

    Then I thought how many people in the UK could even contemplate buying abroad now what with finances as they are, plus all the bad stories we’ve heard about buying abroad. Maybe I’m wrong but I really do think buying abroad and therefore including Spain on this topic has probably had it’s day. Have people at last realised that buying abroad can seriously damage their wealth, and maybe their health through stress etc.

    Holiday homes in the sun now seem too expensive to buy (completion costs and exchange rates) and to run, airfares are also going up fast, are they worth it? 🙄

  • #97799
    Profile photo of Anonymous
    Anonymous
    Participant

    channel 4 were quick enough to jump on the band wagon when everyone wanted to think about the possibility of a holiday home,now prehaps in the bad times with all the people that were incouraged to buy by these programes they could give a balanced view and continue these programes and show its not all sunshine and sangria.
    House trapped inthe sun was a good programe and showed some of the nightmares that people are living

  • #97800
    Profile photo of katy
    katy
    Spectator

    Angie, I watched one of those a few days ago. Forest of Dean or Sierra Nevada. Was strange to see that their budget would have bought a far better house in the UK (2006) than the sierras. They were showing them an area around Lanjarón. Looked pretty bleak and the houses were awful. One had bedrooms downstairs which gave the appearance of a cellar (you could feel the cold) and there was a woodburner stuck in a silly place in a corridor 😆

  • #97801
    Profile photo of Anonymous
    Anonymous
    Participant

    I don’t think we can blame all on the likes of these programmes – the banks have alot to answer for too. I thought it was funny though the guy was saying you could get “x” amount rental during the summer if you bought this place- as if its a given. Anyone who buys a holiday home which depends on rental income wants their head examined in the current climate- if you buy you should be able to afford the repayments on a mortgage. Have to agree with Angie I think buying in Spain certainly for a second home or anywhere for that matter has had its day for most Irish and English – people don’t have the extra money to maintain a second home let alone get the flights there. It will be certainly 10 years or more by the time this recession as righted itself if ever.

  • #97802
    Profile photo of angie
    angie
    Spectator

    I agree with both katy and Angela. I have to say that IMO the Channel 4 Progs and the then Real Estate TV did go along way to lure/dupe naive Brits and Irish into buying in Spain, Bulgaria, Turkey, Cyprus and Dubai for investment and holidays. I did get a bit sick of Amanda Lamb taking people to the ‘Next Hot Spot’ which of course most became damp squibs and loss makers. For a while she did face up the Programme ‘House Trapped in The Sun’ which covered some of her suggested Hot Spots.

    Interestingly, friends of ours have just returned from Dubai as one of them works in the UK for Sheik Mohammed and they’ve watched things there unwind for years. They said the number of people they know as well as Estate Agents are saying there are 1000’s of people desperate to sell even at a great loss their so called ‘you cannot lose investment’. The only advice was to try and rent the properties out. There’s also a problem with 1000’s of workers from the sub-continent now not working because everything has ground to a halt, they can’t return home because they will be killed by the paymasters who they owe money too for getting them there. They live in poor accomodation, unable to send money home, whilst the Rulers are spending mega millions on horse races etc. Human Rights Tragedy or what?

    A large oversupply and many unfinished developments, rather like in Spain! 🙄

  • #97805
    Profile photo of Anonymous
    Anonymous
    Participant

    SO TELL ME WHATS THE DIFFERENCE BETWEEN NAIVE BRITS AS YOU SAY, AND BRITS LEAVING THERE BRAINS ON THE PLANE.

  • #97806
    Profile photo of Anonymous
    Anonymous
    Participant

    Why do you need to shout? 😕

    naive: not informed, lacking in knowledge or information, lacking in relevant experience
    (rather like you re. building your house and seeking information how to go about it)

    leaving brains on the plane: infers a direct insult/rudeness, insinuating purchasers visit Spain and consider purchases while being without their brains – i.e. brainless.

    Re. your house-building venture (and considering your signature) would you rather be called naive or brainless?

    – now do you understand the difference?

  • #97807
    Profile photo of Anonymous
    Anonymous
    Participant

    NO ONES SHOUTING JUST USING CAPS GET IT RIGHT NO DIFFERENCE WHATSO EVER. WAKE UP YOU HAVE JUST INSULTED ALL BRITS

  • #97808
    Profile photo of Anonymous
    Anonymous
    Participant

    @alanrthornton wrote:

    SO TELL ME WHATS THE DIFFERENCE BETWEEN NAIVE BRITS AS YOU SAY, AND BRITS LEAVING THERE BRAINS ON THE PLANE.

    So what are you trying to say exactly? People who bought in spain are naive and stupid?

    Let me explain why I bought in Spain almost 6 years ago – I researched well before buying and thought about it for a couple of years prior and bought with the intention of holding on to our second home for a long time to come and was delighted with the location everything. Fast forward 6 years to present and things have changed dramatically for thousands of British and Irish people and spanish also. Because of this recession which even though Britian is out of and Ireland getting there it will have a long term effect with the equity that has been wiped off property in Britain, Ireland and Spain – wages have been cut, tax increases – airfares rising, interest rates are rising – suddenly the amount of liquidity is diminishing – that unfortunately is the reality for expats. The reality for people is that second home is a luxury they can well do without. I am not sorry we bought in spain we have had 5 years holidays with the kids and enjoyed it immensly and has been a great experience but I will be glad when we sell, I no longer want the burden of owning a second home and will gladly pay rent for 5 to 6 weeks during the summer.

  • #97809
    Profile photo of Anonymous
    Anonymous
    Participant

    I as well still enjoy spain. that was not my point it was something said sometime previous something like whats good for the goose etc.
    but sadly some cannot handle that. which actually proves my point totally. have a great easter.

  • #97812
    Profile photo of angie
    angie
    Spectator

    Angela, I was a naive Brit when I bought in Spain, I did a silly thing and trusted the Estate Agent which I regretted, but as I thought the agents were British and had been on the Coast for 18 years they claimed, I’m afraid I assumed they were like a financial advisor. A good lesson learnt for others ans now used to warn newbies to Spain and elsewhere.

    Of course I’m no longer that naive but there will still be plenty of Brits and others who are, many probably don’t read this Forum and so will get caught out. 😉

  • #97813
    Profile photo of Anonymous
    Anonymous
    Participant

    Had our fingers burned as did many with an off plan purchase that will never be built.
    Continued to look for property in Spain as a lifestyle choice to spend our retirement.
    Have just completed on a lovely property armed with much more knowledge gained largely from this and other sites.
    Now back in UK to wrap up investments, wifes retirement, and lots of other bits.
    Looking forward to the next ten years in order to answer the question the thread raises.
    It is important that financial matters are well taken care of and we will arrive in Spain having no mortgage and the finances to fund a very comfortable life style. We have been careful in the past and dont intend to change our attitude to finances.
    Im sure that if things change financially re the exchange rate that we have adequate reserves.
    No looking forward to the move to the Sun and our retirement idyll.

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