Buying a holiday property in Spain

Discussion in 'General Chat' started by booyaka, Mar 14, 2006.

  1. booyaka

    booyaka
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    Considering the option of maybe buying a property in Spain as a holiday home/investment/rental.

    Looking initially towards the Murcia area of spain due to ryanair flights in and out are cheap.

    Had a look at various places and the Polaris World resorts seem to be a good idea. I like the golf side of things, near the beach for the missus, good rental and investment potential.

    Anyone done anything like this before? Any tips etc. Been dealing initially with a couple of companies, Bluestar is one of them and so far seem to be ok.

    I fine with the potential mortgages etc due to being an IFA but just looking for any tips in terms of good comapnies to deal with and anything to watch out for.

    Thanks in advance:thumbsup:
     
  2. GBDG1

    GBDG1
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    You've been seduced by Jack Nicholas on the adverts havn't you :p
     
  3. mrtbag

    mrtbag
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    Booyaka, I'm sending you a PM.
     
  4. colinwheeler

    colinwheeler
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    I am also interested in any information that is available as need to start looking for a retirement home for my folks.
     
  5. booyaka

    booyaka
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    If i could guarantee a round with Jack then i would have bought 2 properties!!
     
  6. GBDG1

    GBDG1
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    Just don't bet the house on the game... I think he might win :p
     
  7. Philly112

    Philly112
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    I don't want to sound negative, but I would be very wary of basing an investment decision on the current availability of cheap flights.
    As most of the recent price rises in these areas appear to be based on UK sellers selling to UK buyers, you will be banking on the current flight prices remaining low for a long time period. What happens if they double, or triple over 10 years?
    At least, with a mortgage, you can achieve some stability with a long term fixed loan.
    But flight prices...?

    Anyway, good luck if you go ahead.

    Phil
     
  8. GBDG1

    GBDG1
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    I think it's more to do with easy access to flights in general, which is extremly important to most people. Also you have to consider that the whole of the Ryanair business is based around being low cost, if their prices triple it would only be in line with the rest of the market and therfore demand would not be reduced, as people would still go on holiday and the choice they had would still be the same, they would just be paying 3 times as much for flights.
     
  9. Philly112

    Philly112
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    Yes, I accept most of this. At the end of the day, it's down to booyake to take the risk.
    What I am trying to say is that low cost flights are a very new phenonemon. Really, very new.
    I have inlaws who have bought property in the same region. They would not be able to afford flight prices three times what they are now.You say that demand for flights would not be reduced if prices tripled. What do you base this on? I would dispute this very strongly.
    And what happens if it's ten times, twenty times?
    You might laugh, but given the recent discussions re global warming, and the effect that air travel has on this (supposedly) I would not want to bet that in 10 years time we are seeing the same sort of prices we are seeing now.

    At the end of the day, I haven't a clue. Just a feeling.
    But investment decisions should be made with as many facts at your fingertips as you can muster. Maybe I'm playing devil's advocate here - at the end of the day, it's not my money!

    Phil
     
  10. booyaka

    booyaka
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    Devils advocate is what i'm looking for.

    the flights situation is not really an issue as far as i am concerned. (but i take your point on board)

    It's kind of like saying that interest rates in spain might rise to 20% so it would be hard to keep up mortgage payments on a potential property out there.Anything could happen in the future but you would just have to deal with it as best as possible.

    Current interest rates are in the region of 3.5% at present (in spain) and i feel that rather than buying a larger house (or a 2nd home) here i could put some of the spare equity that i have in my house to better use, rather than just doing nothing with it.

    Just initial enquiries at this stage but quite pleased with the information avaliable via a couple of sources and as a financially asute person (should hope so in my job), it's not something that i will be rushing into.

    All comments welcome:smashin:
     
  11. Philly112

    Philly112
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    Good luck matey!!

    You are obviously aware of all the pitfalls - I hope I wasn't being condescending.

    Let us know how you get on, and any cheap rental deals you might be offering to forum members :thumbsup:

    Cheers
    Phil
     
  12. GBDG1

    GBDG1
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    I was working on the idea that a flight now costs so little (around £30 if you book well) that most people could tollerate £90. It would be a different matter in relation to long haul flights where the cost is already well into the hundreds. I didn't wholly disagree with your ideas, I just thought I would argue the other side. I don't think that the spanish market would be heavily affected by fluctuations in air faires. It's proximity to the Uk might acctually boost the amount of people who go; as people would be put off longer flights.

    Also it is important to consider that if the cost of air travel did rise dramatically it would affect inflation in such a way that the cost of everything would rise, as so many of our good are imported using air travel, either that or other oil intensive freight...

    That's acctually quite an interesting idea, the cost of air travel can never really rise significantly in terms of the real value of money, as if the cost of air travel increases it in turn pushes up inflation, which in turn makes everying more exspensive, and the price would come back into line with the cost of everything else.
     
  13. booyaka

    booyaka
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    Will do - no probs re your comments - happy to take any comments on a potential first time thing.

    Will maybe need a new part of the classified ads to let people know avaliable dates etc for booyaka's castle in spain!!!
    :D
     
  14. robzter

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    Me and my partner own a 3 bedroom townhouse in a lovely area in Torrequebrada Benalmadena Costa,got it at a great price.we are by the sea,next to a golf course,close to buses have parking ,views from the terrace to the sea mountains and golf.we have it listed on many websites and are doing very very well.if your going to rent it out you really need to be near the sea and some form of entertainment.ive heard many horror stories of renting to Golfers so we dont.but we where fully booked last season and are having a great year this one.
    When you buy for yourself its different as for me i would like a place in a remote area but seeing as though we wanted to rent we went for the coast.we were very lucky as we are not living in the british invasion !!
    i would recommend it
     
  15. la gran siete

    la gran siete
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    I was thinking of buying a small pied a terre / bijou residnce in Buenos Aires where property prices are about a tenth what they are in London. It would depend of course on how much wonga the sale of my shares in a family owned company would realise of course. The usual matter of location ,undertsanding the law and finding reliable lawyers etc (NOT EASY) would come in. Fortunately i have a cousin out there who might help.
    Just like the idea of having a foothole which I can let out there and use as and when.
    Also i wouldnt te liable to capital gain:)
     
  16. booyaka

    booyaka
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    nice one - thanks - when you say you have it listed on many websites - do you let it yourself via people contacting you from these website or do you use an agency to let it for you?

    Interested to know how to go about letting it ?? DO you have to organise cleaners etc to clean it after each let???
     
  17. colinwheeler

    colinwheeler
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    I have a couple of friends that have the same sort of thing in Beleaze (spelling?).
     
  18. la gran siete

    la gran siete
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    Belize. Used to be British Honduras
     
  19. colinwheeler

    colinwheeler
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    Yup, that is the place and they say it is dirt cheap out there and very friendly with quite a lot of english speaking folks. Pity it is not the easiest place to get out to but the primary bloke that I spoke to is retired and spends two to three months at a time out there.

    As a point of interest though, you can buy islands around the world for the same sort of prices that you can appartments for in London. Try www.islandsforsale.com for some fun window shopping.
     
  20. la gran siete

    la gran siete
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    Is it not incredibly humid? would'nt fancy the tarantulas myself:eek:
     
  21. colinwheeler

    colinwheeler
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    I think anywhere tropical will be humid but I like that myself. As for the big spiders....yes well but I believe that Brazil is the only country in the world that is home to an agressive spider species and they are almost as big as trantulas!:eek:
     
  22. robzter

    robzter
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  23. la gran siete

    la gran siete
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    I was kind of looking at this site because Valencia is an astounding city nad the properties in the surrounding regions look reasonably priced

    www.rawlinsholden.com/

    It seems that it has not been fully discovered by the Brits
     
  24. signs

    signs
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    hi.... my mum and dad went to spain twenty two years ago(i was very very young) they love it (north spain) not many brits.....also not many horses either!!!:D
    p.s when i say not many brits ....i mean they like the cultural side :suicide:
    bloody hell has any body got a spade ...i'll dig myself deep'er
     

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