17 Nov 2010 5:09 PM:
We are working in both the Costa Calida and Cost Blanca area as property/rental managers and sales agents. This gives us a good deal of hands on experience of what happens with a property after the sale and a direct look into incoming and outgoing cashflows. I found this thread particularly interesting as we work with both investors and people who buy their home for pleasure.
We only work with heavily discounted homes and excellent price-quality homes for sales nowadays as all the others are a waist of time for both potential buyers and ourselves. Within that framework we really only sell to people who like to enjoy their new home themselves, possibly with additional rentals for an extra income but not with the intention that the property pays for itself. For this group there are certainly some very interesting deals available and without doubt some very enjoyable properties.
I agree that for the not so long term property investment opportunities there are better places today. Brasil was mentioned here and we consider that some proyects that include catering for the fast growing middle class are highly interesting. For this reason we work for some of our investment clients with a Belgium company that does some very nice proyects in Brasil combining the better second home market with the local opportunites with excellent results so far. However I do want to mention, and as an input here, that proyects depending on just American and European clients like possibly others in Brasil or Panama have quite a high risk profile. Specially the Americans turn out enormously unstable as soon as there are problems in the world. A new teror attack or even a war somewhere. Any such event may ruin instantly a serious investment in this area. But when the proyect also has local potential the risk is not the same.
Finally my former statements brings me to remind potential buyers that a country like Spain is within Europe, flights are relatively short, millions of Europeans get older and love to get into the sun and some economies are picking up and money starts to roll again! Even the heavily discounted properties of today would have thought to be tremendously expensive 20 years ago.
Thread:
Is it now time to buy?
--------------------------------------