Re: Re: Buying apartment in Barcelona now?

#113262

Anonymous
Participant

Gary,
Thanks for your comments! It’s very useful. We’re also a buyer from the US. Besides the price of the property, we also concern the exchange rate between the euro and the usd. We heard its almost impossible to get a mortgage from Spain now so we are planning to take out a mortgage in the US. The issue is if euro is to go down 10%, even with no change of value of the property, we will incur 10% exchange rate loss. That’s something we are taking into consideration.

Is your apartment in the old town? We’re planning to use this place as our second home as well as vacation rental and we are planning to hold it for a long time. Having said that, we are treating this as an investment and certainly don’t hope the price will be the same 10 years from now.

On the other note, we know a rental license is needed for vacation rental in the old town. The question is is the city really reinforce the rule? When I go online and look for vacation rentals from owners posting, I doubt that they all have rental license. Any comments on this topic?

Thanks,
Irene