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The ITV1 current affairs show “Tonight” is looking for contributors to take part in a programme about Redundancy.
Have you recently been made redundant and are now thinking about investing your payout in buying property abroad?
If you’d like to find out more please email me at emily.burndred@itv.com
Thank you
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I’d be amazed if anyone is really thinking of doing this!
This, is the most unwise thing that one can do. In the current climate.
So where else would you invest that lump sum? The bank or stocks and shares? Who would consider them safe at the moment?
There are many, many bargains to be had at the moment, in property everywhere. If you buy wisely, you couldn’t go wrong.
Or there’s always gold. -
I’d be amazed if anyone is really thinking of doing this!
This, is the most unwise thing that one can do. In the current climate.
So where else would you invest that lump sum? The bank or stocks and shares? Who would consider them safe at the moment?
There are many, many bargains to be had at the moment, in property everywhere. If you buy wisely, you couldn’t go wrong.
Or there’s always gold. -
I don’t know about spending redundency money on Spanish property.
I mean, who get’s 150,000 pounds as a redundency payment, which is about the price of a decent apartment in Spain.
Now if you were making a program about where the RBS directors will be spending their bonuses, many up to 1 million GBP, then I would say Tuscany, Umbria and Provence.
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I would have thought that most people would use redundancy payments to live, until they found another job. And as has been said, not many will get settlements that are sufficient to invest in property.
As for a good place to put your money, I would rather get next to nothing in interest, than gamble on the (still falling) market in Spain.
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@paulespana wrote:
There are many, many bargains to be had at the moment, in property everywhere. If you buy wisely, you couldn’t go wrong.
So says the man who wrote on this forum exactly a year ago:
“We all live, or live and work, or aspire to, or have an interest here, on the Costa del sol, so why not be positive about it.
There is so much to be positive about here, and there is no place for negativity, at all”.Still keeping up the good work then Paul?
Personally, I’m happy for my house money to be where it is – sitting in a bank gaining 5% pa. That’s 5% in the last year since you wrote that – what out of interest do you think Spanish property has appreciated in the last 12 months?We’re supposed to be talking about whether property is a ‘wise investment’.
So I suppose Paul, no matter how wisely one buys, I respectfully disagree with you. -
“d be amazed if anyone is really thinking of doing this!”
DO NOT UNDERESTIMATE HUMAM BEHAVIOUR.
To me redundancy is not there as a windfall that is over & above ones normal requirements ( there are exceptions ) so it has to be parked in a safe environment, until such time that the recipient get back on his/her feet.
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I don’t know about spending redundency money on Spanish property.
I mean, who get’s 150,000 pounds as a redundency payment, which is about the price of a decent apartment in Spain.
I suppose it depends where you choose to invest, but as an example I have an 85m2, two bed house in the campo, in excellent condition with 8000m2 land, reduced from €170k to €110, a fully refurbished village house, reduced from €150k, and the vendor will accept the first €80k, and urban building plots from €12k. 45 minutes from Marbella. You couldn’t lose money on opportunities like this. Even the original prices were realistic for the market as it is.
PS. Before anyone makes the comment, I’m not trying to sell property here, which is why my phone no. or business details are not within my post. I’m using these as an example only.
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@paulespana wrote:
I suppose it depends where you choose to invest, but as an example I have an 85m2, two bed house in the campo, in excellent condition with 8000m2 land, reduced from €170k to €110, a fully refurbished village house, reduced from €150k, and the vendor will accept the first €80k, and urban building plots from €12k. 45 minutes from Marbella. You couldn’t lose money on opportunities like this. Even the original prices were realistic for the market as it is.
.If these are so good bargains, why don’t they sell?
12K should be peanuts money for a serious investor.
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@Peter Good wrote:
I woud expect the average redundency pay-out to be between 5K to 30K.
I was made redundant a few years back, my colleagues and I compared notes, and I would say you are correct in your guestimate.
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The statutory redundancy payments had been reduced to a negligible amount, during Mrs Thatcher’s period for obvious economical reasons .
To get £30,000, you must have been used & abused by your employer for more than 30 years of your life. Besides any additional amount of more than £30k, will attract Taxes on the whole amount. This sealing has not been increased with RPI etc and it allows Employers to use as a bench mark in such instances..
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@El anciano wrote:
I agree. So many seem to “invest” by buying when the market is high, and sell when they “need” to. Justifying the high prices with the old BS, that you cannot go wrong with bricks & mortar.
As was said above, much depends on the time period.
For example, if you were to go through your whole life buying a property at top prices and selling them ten years later at the bottom, then after 50 years, you would be well in profit.
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@rt21 wrote:
The economic cycle may be a roller coaster but in times good and bad the advice seems to be invest in property. Is there ever a bad time to invest in property ?
Richard
2007 was a very bad time to invest in property in UK. 2005-2006 was the most awful time to invest in property in USA.
Probably the same applies for Spain.
Second half of 2009 or beggining of 2010 might be a good time to invest in USA, 2010-2011 might be a good time to invest in UK.
I have no idea when would be a good time to invest in Spain.
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@paulespana wrote:
I suppose it depends where you choose to invest, but as an example I have an 85m2, two bed house in the campo, in excellent condition with 8000m2 land, reduced from €170k to €110, a fully refurbished village house, reduced from €150k, and the vendor will accept the first €80k, and urban building plots from €12k. 45 minutes from Marbella. You couldn’t lose money on opportunities like this. Even the original prices were realistic for the market as it is.
Just shows no-one is willing to pay that sort of money to be in the middle of nowhere.
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