Reply To: Buying in the current climate


@katy wrote:

If you want a good investment stay out of foreign property. Shares have recovered well this year, money to be made and no hassle and upkeep!

Totally agree. As the recession fades stocks can only increase. Property is now a dead cat without the bounce! As I keep saying ‘the parties over’. It was not difficult to see the disaster coming 5 years ago. All except the Spanish bankers who walked blindly into the dark night.
I can’t even justify buying property abroad any longer just for holidays. If you work out your buying costs in taxes, running costs etc, etc. Then compare 5 years staying in 5 star hotels in the same place your quids in not buying. It was different in the boom years capital growth alone gave you an edge but no longer. My advice to any property owner abroad is sell sell sell at any price your offered and put the cash into a managed stock portfolio. Then enjoy your holidays with the profits. Better choice of destination without the responsibility of ownership. It’s a no brainer folks.