Key Post The case for buying a property in France, Spain or Portugal

joe sod said:
deep suspicion of outsiders and foreigners. It seems to be that increased localism and nationalism has taken over from "ever increasing union ".
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I get your other points on the risks of owning a foreign property... but has our view of foreigners changed for the worse? I don't see any evidence of that.
 
joe sod said:
I wonder has the pandemic and the government reaction to it dampened people's enthusiasm for buying a place in Spain. On the one hand people are yearning to get out of Ireland and go on holidays but on the other hand the risks of owning a holiday home in a foreign land have increased dramatically. Look at what's happened, borders closed, airlines stopped, deep suspicion of outsiders and foreigners. It seems to be that increased localism and nationalism has taken over from "ever increasing union ". You just have to listen to the irish discourse on the pandemic to realise that, even going down to a mobile home in wexford was a capital offence. Could a holiday home in Spain become a "stranded asset"
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My posts here are mainly why you shouldn't buy a holiday home abroad including Spain. I posted favourable points to buy a holiday home on this thread after being asked to provide The Case For Buying in Spain.
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There is no doubt, Covid is having its effect on people who own property in Spain inasmuch as we cannot visit for at least another few months. It's a year since we were in our holiday home. Normally, we'd spend six months in Spain over the year. But, we will not disobey Covid restrictions in Ireland and in Spain.

I don't believe Covid-19 will have much long term effect on on owning a place in Spain including the price of property. The everyday sun is always the main attraction along with the cheaper and better lifestyle. Brexit affected more people in Spain regarding property prices but it is still too early to say of how much. Outside of Brexit and Covid, property prices are running cheaper anyway and I think they'll not reduce.

If anybody is hell bent on buying property in Spain, now is the time to buy, but be careful where you buy. There is no point in paying €45K for a place up the mountains on in some tower block where you can wave to the pilots taking off from Alicante airport. Those properties take years to sell if you must.

But, looking out on 24+ hours of rain in our back garden in Cork at this moment and seeing photos of dreadful flooding in the Examiner I'll tell you, first chance I'll be on my way to Spain even if I have to push one of Michael O'Leary's Boeing Max 8's to get it started.
 
Leper said:
There is no doubt, Covid is having its effect on people who own property in Spain inasmuch as we cannot visit for at least another few months
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Of course second properties in Ireland that are more than 5km from your home are out of reach also. :)
 
I'm glued to the interesting thread of Why Landlords are Heading for the Hills while cashing in their chips in Ireland. Perhaps 2022 is a good time to buy property abroad?
 
Long time lurker here.

I have a terraced 2b former LA I am thinking of selling, I bought for 51K just over 7 years ago, rented for 9K PA. If I sell I will at least double the original money. What would be the best options and areas for buying in FSP in the sub 90K market. I would like to use it myself and would also like to get some yield off it.
Thanks.
 
rock pyper said:
Long time lurker here.

I have a terraced 2b former LA I am thinking of selling, I bought for 51K just over 7 years ago, rented for 9K PA. If I sell I will at least double the original money. What would be the best options and areas for buying in FSP in the sub 90K market. I would like to use it myself and would also like to get some yield off it.
Thanks.
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Depends. Is it in France, Spain or Portugal?
 
Anyone know a good accountant in the Algarve? Or any advice on annual tax returns or could I do it myself?
 
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