Whilst I cannot comment on the situation in the “mainland”, times are certainly tough in the Canaries for those looking for rental return.
I have seen many posts on here which look like people are out to make some easy money…but you are a couple of years too late, as another poster has pointed out.
To buy off-plan with a view to selling on (and making a profit) before completion just ain’t happening.
But…who to blame?
Of course, unscrupulous agents will tell you what they want to tell you – but at the end of the day, the purchaser must shoulder some of the blame as it was they who were looking to make some easy money, and greed definitely plays a part on both sides.
In the old days, property was never a get-rich-quick scheme and was always considered a safe bet for a medium to long-term investment.
Now that the crazy times are over, maybe the old way of thinking should be brought into play again.
“If it sounds too good to be true, then it is”. How true.
However, if anyone is looking for a guaranteed investment – 1 bed apt, 3 year guaranteed return etc. please PM me and I will give you details.
Even here, I would not say that you will make a significant profit if you look to sell in 3 years time, but at least you will have a guaranteed return every month for the next 36 months, during which time, capital appreciation should start to show a return of sorts.
Once again, property should be a medium to long-term plan for making money.