It’s not a negative Rocker. I accept any genuine investment opportunity that comes my way because it allows me to see market forces in play. However I do agree my spam box it littered daily. 🙁
The banks are currently trying to rid themselves of property under 100k value. The remainder go to the SAREB. So for example golf apartments in Valencia/Murcia are selling for around €40k when their original price was €180k. Bargain? Not really.
Any less investment aware punter may well think that was an opportunity. Until you add the purchase costs and maintenance costs. Estimate a maximum 10 year period before any decent risk return can be had, and annual costs of at least €5k to have them standing empty, then reduce that estimated return with a minimum 16% capital gains tax.
What profit is left in a market that stagnant and likely to remain so? The answer is very little or the banks would do the same. I realise I’m a professional speculator and their principal intention is to off load these properties to foreign holiday home buyers but really in truth it’s the same result. Except you have a place in the sun to use if you want it. 🙄