Spanish Property Insight › Forums › Spanish Property Forums › Spanish Real Estate Chatter › Santander will "price to sell" its real estate portfolio › Re: Re: Santander will “price to sell” its real estate portfolio
Jonas it’s your choice and psychologically I understand why no one wants to do it. Historically most people keeping their property through the downturns in the property market have made a vice choice but the big problem is that there are so many that don’t have that option and they will ruin people like you their chance to get a “descent” price. In lots of places the rental markets is totally destroyed by people doing the exact same like you. The good thing though for people that want to rent out is that most people are very lazy in how they operate and it’s actually quite easy if you have time to find renters most of the time. Not if you go through a major letting company though. Hard to do it though if you are not living close to your property.
I agree with you, a holiday rental will only work if you work at it.
It has to also be in a prime location as there are so many unsold properties in non prime locations.
These unsold properties in non prime locations, will probably sit there for years, these are the properties that investors will be able to purchase at huge discounts, now and for years to come.
However any prime location property owners do not have to sell at a loss as their properties rent so well as holiday rentals, so why should they???
My point is, are the astute investors being that astute by waiting for years to get the bargain properties?? Because all they will get is the crap no one else wants now at 50% off. Any decent properties in good locations, will just continue to rent until the market stabilizes.
Another thing for investors to think about.