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Soy... un hombre

Vivo en... Spain and France


Mi firma en el foro es...

Time is the school in which we learn Time is the fire in which we burn. Delmore Schwartz.

Mickyfinn's latest forum comments


22 Jul 2020 09:33:

Investing in Spanish property especially a property on a golf course is probably the worse possible investment you can make. It depends of course what you expect from the investment. If it's just a holiday it makes no sense. If its a financial return it still makes no sense. If you are playing the long game of say thirty years and retirement you may just get your initial investment value back but not your costs. The investor's mantra - never invest capital in anything that comes with a substantial relentless cost attached to it.

Firstly all Spanish property purchases are loaded with buying taxes. Around 10-12% plus the exorbitant agent fee of around €5k. So you begin with negative equity from day one. Then the high cost of maintaining said property. Calculate €3k per annum on a golf course. That sum includes community fees, utility standing charges, property management fees and local taxes, maintenance. The list is long and increases every year. 

Don't be fooled into believing renting will cover your outgoings either. The Hacienda is clamping down severely on none declared rental income. Spain is awash with property to rent so you will be competing in a crowded market.

Back in the day, there was a time when Spanish property increased in value. Those days are long gone due to massive oversupply problems and the world economic downturn. You will struggle to resell and recover your substantial costs. That situation is not likely to change for years to come.

If you're not bothered about losing money, substantially increasing costs then fine go ahead. I would simply suggest there are better places to risk your cash that may well provide you with greater benefits. 



Thread: La Tercia or Corvera Golf holiday property

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08 Mar 2020 15:57:

Kavanagh - What should be the incentives and disincentives to crime and punishment? What is civilized and what is reasonable?

In a democratic society, laws are and should always be sufficient.



Thread: True immigration control in Spain

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08 Mar 2020 12:41:

The EU needs to protect its external borders from illegal migration which is actually what over-stayers are, even if they have an income and are not a burden on the state. The problem will come when the UK migrant wants to leave and return home to Blighty. The entry stamp will clearly show an offence. Fines should then follow. Happened to me back in the day when I lived in Turkey for a spell.

Some Brits still believe nothing will change in 2021. They are in for a nasty shock.



Thread: True immigration control in Spain

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08 Mar 2020 10:37:

Passports and border controls imposed by the EU within the Schengen zone will ensure any overstay citizens of whatever nationality face sanction of some kind. Usually fines. I expect the 90-day rule to be strictly enforced post Brexit transition in Jan 2021. Ask yourself can US citizens spend as long as they like in Spain without residency? Answer not.

That said the Coronavirus may yet play some part in a UK transition extension.



Thread: True immigration control in Spain

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13 Feb 2020 16:37:

That may have been true back in the day Kavanagh but the 'times they are achanging'. Brexit and tighter controls will see to that.



Thread: EU registration

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