Hello to all
I’m going to buy a flat in Spain (Costa del SOL)
budget – 130K – 180 K euro, flat – app. 50-70 sqm
Goal – to spend there 2-3 weeks on vacation, the rest of the year to lend.
Please help me to understand how easy and profitable it is?
May be someone has any experience in that field?
Please advice me!
PS. i’m thinking about a flat (not off plan) in city like Torremolinos
Put your money in a savings account for at least two years, holiday on the interest in the meantime, and grab yourself a bargain later down the line when the Spanish property market has ‘sorted itself out’ somewhat.
The advice from Charlie is sound. Prices haven’t really gone down yet but everyone thinks they will. the rental market is also bad. There are many empty apartments now and July is their busiest month. Wait at least one year and review or if not you 3 weeks holiday each year will turn out to be very expensive.
Prices will reduce or will be less criminal and corruption?
Big prices and crminality/corruption are very much interconnected.
When newspapers will say that it is very bad to invest in Spain, then sharky real estate agents and other crminals will have left the scene and it will be a good time to start looking for buying
Till then, enjoy renting for 1/4 price of ownership.
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