- This topic has 4 replies, 4 voices, and was last updated 13 years, 11 months ago by
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There is no easy answer to this question.
The general consensus that any ‘investment’ in Spanish property, whatever the region, will lose money in the short to medium (1-5 year) term. Quite possibly a lot. There are some good deals around but they are few and far between. Even then, it is questionable that they would make money. There are of course lots of people around saying ‘buy now, the market won’t go any lower’. They may be right now but they have certainly been wrong for the last three years they have been saying it and all the fundamentals suggest they still are.
If you want to buy for lifestyle purposes, that is another story. You must however accept that you’ll almost certainly be out of pocket if you do.
My best advice is that, for ‘investment’, look elsewhere. For a lifestyle find a place you like and research the area well, in all seasons.
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Spain is not a Country for Investments. Apart from the price of the property i.e. if it is a bargain or not !!! The cost of buying & if you wish to sell the cost of selling taxes, VAT, Notary fee etc, etc at both ends.
In addition to the above you may well end up paying more taxes if you bought a so called bargain. refer to other threads on Ayutamente/Hacienda taxing people.
The whole system is so lax & instead of pulling it up they go for the softer option of screwing the buyers. ( biting the hands that feed you comes to mind )
In short if you are looking to buy as an investment forget Spain.
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@shakeel wrote:
The cost of buying & if you wish to sell the cost of selling taxes, VAT, Notary fee etc, etc at both ends.
Plus if you do find an amazing bargain, they come along and do this to you: viewtopic.php?f=2&t=5435
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