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On 4th April, the BBC Real Story programme talked about first time buyers in the UK frozen out of the market and suggested buying abroad as an alternative.
Alicante
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“Peter Fletcher, 26, went in search of a bargain property in Spain after finding prices in fashionable south Manchester beyond his reach.On paper, buying abroad may sound like a good idea as the property is cheap and the potential holiday rental is good. As I found out, for an investment of £120,000 I could buy and rent out a property for over 500 euros a week for up to 80% of the year.
That’s a great return compared with renting out a property in the UK. If I bought a property for the same amount in Manchester, it would be in an area where the rent may not even cover the monthly mortgage.”
……………………………………………………………………………………….Looking at the website, he didn’t go ahead, but how many people watching that programme would have looked at the follow-up of the story on the website?
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There was a similar thread in the sunday mirror supplement.
Even suggesting that a year round rental was achieveable in Turkey where there are not many airports with direct flight in the winter and invariably packages can work out cheaper than flights.
As you say PJA these articles can be very misleading.
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