Looking for good property with potential

I am looking for good property with excellent rental and capital appreciation potential....this can be in Spain or anywhere!

I am open to offers or suggestions.

Tim Higgins

Hi Tim

Welcome to the forum.

You have a lot of competition in the rental market as it has become saturated. My only advice to you is the same as we have all been talking about over the last 18 months. If you can afford to buy the property without relying on rental income then by all means do it. It will appreciate in value in time but gone are the days of making a quick profit in the short term. If you do rent it out, which you probably will,then look on it as a bonus not a source of income to pay the mortgage. So many people have been told they will have no problem renting, the reality of it as a lot of people have learned to their cost is that there are problems with supply and demand (too much supply and not eneough demand) Not trying to be doom and gloom just being honest and realistic. Keep posting and let us know how you get on

Tim

In 2008 both in UK and Spain you may be looking for the ' Lottery Jackpot' !!

But there are some medium term investments out there in Spain and 2008 is a good time to buy for 'life style' and even investment 

Sent you a PM if you want more info 

Hi Tim,

Have you thought about Mojacar, Almeria.  The best investment around here are the 3 bed villas.  I as an agent can't get enough as demand is so high for long term demand and short term demand in the summer for rental

In terms of capital appreciation they are no longer building villas as builders cannot make as much profit, better to build 6 apartments on a 500 sq m plot, demand right now is very strong for villas and will always be.

Almeria really is the forgotton Costa and remains relatively undeveloped and unspolit and is surrounded by National Parks and 2 hours from the ski resorts at Sierra Nev.  The main draw is the weather as it boasts the most hours of sunshine in Europe, the driest region of Spain and a warm climate, at the weekend it was 24, not bad for the beginning of January.

BUT the best reason is the new infrastructure coming to the area, over the next 5 years includinga new motorway, new airport at Corvera and the high speed rail link to Madrid and Barcelona and the extension of the airport at Almeria. The creation of new marinas and the opening of 2 5 star hotels.

have a look at my website to give you an idea of prices, however I also cover distressed sales (repossessions, illness, divorce)however these clients prefer them not to be on the website

The area in general is well estalblished and is where the Spanish come on holiday in the summer.

I hope this gives you an idea of the area.

Regards

Sarah Hart

www.coast-almeria.com

Tim

Do yourself a favour and do some more research. You will lose money in the UK and Spain in 2008. You cannot rent property in Spain and make an even miserable return. asking prices and selling prices vary by 30% and the real troble is yet to happen. Pls read the coming crash thread, property is over for investment. People like Brian are a perfect example of what I have been talking about. Good time to buy if you get a 50% reduction maybe. Spain is without doubt the most overvalued market in teh world bar none. It won't remain that way

Hi Tim

This is what I posted aerlier to another punter.  Good luck Tim

Hi David

Have you had a look at the "worldwide credit crunch" thread on here. I don't want to put you off if you want to buy a home and keep it and enjoy it for the next decade, but beware because property prices in Spain have only just started their slide.

Beware the vested interest, almost everything you read and hear is from people with a vested interest, be it property developers, agents, magazines and people on here. So many people in Spain, expats and the like are trying to make a living from property, the boom has been a God send for jobs.

Everyone accepts that lending standards have been too lax, but to accept this you must also understand that these very lending standards have produced todays artificial prices. One produced the other.

Just think how much is a property worth if you can't get a loan to buy it? A article on Bloomberg today stated that it estimates 3/4 of Spainish property developers are going to go bankrupt. People say that asking prices have not dropped much, but that evades the truth. The market is in denial, and no one knows where selling prices are until they can find a buyer. They might be 30% lower, or they might not find a buyer atall.

Look in the paper, look on this site at the property for sale, there is more property than you can poke a stick at, the market is flooded with non-descript over priced apartments, most of which will not sell at any price.

Spain has a current account deficit the second largest in the world, it takes two thousand million euros a week to make up the shortfall, can you get your head around that figure? Spain's wages to house prices ratio is THE LARGEST in the world, suggesting Spainish property is the most overvalued in the world. Come here and try and get a job and see what kind of wages you can earn.

The Spainish central Bank has been selling its gold reserves to try and make up the shortfall, it is that desperate. Spainish personal debt has reached 130% of incomes.

Trust me, things are going to get much much worse, a fall of 30 to 50% is going to happen once UK house prices continue their fall next year, and Spainish banks refuse to loan money for fear of further loses. People have forgotten or never know what a credit crunch is, this is one.

Come to Spain, but do yourself a favour and rent for atleast a year, you will pick a better property anyway.

We have a villa for sale 3 bed, 2 bath with pool on large plot, in Chiclana de la frontera, costa de la luz.    This is a lovely unspoilt part of spain, with beautiful beaches.  Will pm u website.