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From what I’ve seen on the Spanish coasts it appears the Brits are quite likely the most naive of prospective property seekers and all too often trust the spiel from their countrymen/women in estate agents. Not only having to contend with poor exchange rate at present, but forgetting the 10-11% completion costs, which, added to future selling costs, would mean the property would have to rise 16% or more to break even one day. Ok if it’s for long term lifestyle, but not good as a quick investment return. 🙄
People have short memories and despite this website there will always be unfortunate victims. 🙄
I agree. By way of an explanation I’m friendly with a local Spanish newsagent selling all sorts of international newspapers, but concentrating on his most regular customers, British expats.
He stocks only a few Telegraphs, Guardians and Times, but has stacks of Daily Mails which fly off the shelves.
I can feel myself getting into trouble for writing this, but how else can I put it? The people I see queuing up at the local estate agents are often clutching a copy of the Daily Mail.
They’re not going to bother with forums like this well-informed one, they’re not going to bother with the extra 12% on top of the purchase price; if you believe what’s written in the Daily Mail you’re just as likely to believe what some jumped up British estate agent tells you.
You can’t save people from themselves.