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help with buying a villa/ townhouse

help with buying a villa/ townhouse

Old Mar 10th 2006, 7:33 pm
  #1  
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Default help with buying a villa/ townhouse

Hello everyone,

I would really appreciate your advice! I was going to buy a villa/ townhouse in Spain & was cautioned that property prices have not moved recently & there is so much Building ie in Murcia they think values will go down, I am now thinking about buying in portugal, as it is beautiful & I speak a bit of the language.

What are the views on property as an investment in the Algarve? Its not that I plan to buy & sell, but I would not want to lose my money!!!! It would be partly for holidays but I would also have to rent it out. What is the rental market like?

Aly advice on good companies to buy from/ rental management / good websites would be really greatfully received.

Many thanks
Louise
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Old Mar 13th 2006, 11:36 pm
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Smile Re: help with buying a villa/ townhouse

Originally Posted by LLC
Hello everyone,

I would really appreciate your advice! I was going to buy a villa/ townhouse in Spain & was cautioned that property prices have not moved recently & there is so much Building ie in Murcia they think values will go down, I am now thinking about buying in portugal, as it is beautiful & I speak a bit of the language.

What are the views on property as an investment in the Algarve? Its not that I plan to buy & sell, but I would not want to lose my money!!!! It would be partly for holidays but I would also have to rent it out. What is the rental market like?

Aly advice on good companies to buy from/ rental management / good websites would be really greatfully received.

Many thanks
Louise

Hi Louise,
I purchased a plot of land last December and it has increased in value already.This is before the build has even started so I don't think your property will lose any value if you buy.
I don't think you will have a problem with rental either as it is a year round holiday destination now, obviously you won't have the same rental during winter months.
some resorts are busier than others so depending on what you want.
Hope this helps
regards
Cindy
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Old May 19th 2006, 8:04 pm
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Default Re: help with buying a villa/ townhouse

We purchased our villa in western algarve november 2004 for 208,000
have just had it valued at €280,000
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Old Jun 1st 2006, 8:12 am
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Default Re: help with buying a villa/ townhouse

Originally Posted by LLC
Hello everyone,

I would really appreciate your advice! I was going to buy a villa/ townhouse in Spain & was cautioned that property prices have not moved recently & there is so much Building ie in Murcia they think values will go down, I am now thinking about buying in portugal, as it is beautiful & I speak a bit of the language.

What are the views on property as an investment in the Algarve? Its not that I plan to buy & sell, but I would not want to lose my money!!!! It would be partly for holidays but I would also have to rent it out. What is the rental market like?

Aly advice on good companies to buy from/ rental management / good websites would be really greatfully received.

Many thanks
Louise
We bought an apartment in Ayamonte on the Costa de la Luz in Spain. We bought it for 120,000 euros 18 months ago and now it is worth 167,000 euros. So who says the prices aren't going up? I think you are probably referring to the Costa del Sol where that is the case. We bought in Ayamonte because we though the fact that it is only 1 km from Portugal wouuld be a good selling point in the future. Best of both worlds and all that.
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Old Jul 30th 2006, 10:07 am
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Default Re: help with buying a villa/ townhouse

Originally Posted by LLC
Hello everyone,

I would really appreciate your advice! I was going to buy a villa/ townhouse in Spain & was cautioned that property prices have not moved recently & there is so much Building ie in Murcia they think values will go down, I am now thinking about buying in portugal, as it is beautiful & I speak a bit of the language.

What are the views on property as an investment in the Algarve? Its not that I plan to buy & sell, but I would not want to lose my money!!!! It would be partly for holidays but I would also have to rent it out. What is the rental market like?

Aly advice on good companies to buy from/ rental management / good websites would be really greatfully received.

Many thanks
Louise
Hi Louise,

We are actually in the middle of buying an apartment now, just outside Albufeira. We have spent many months on deciding which area to go for, and searching the web for months on end looking at various prices etc. The apartment is initially for us to move into when we sell up here in the UK, so we will actually be in Portugal to look for a permanent home, and then rent the apartment out as investment. The choosen area we are buying in, appears to be a good choice of location, and we not expecting to have difficulties in renting it.

We are buying it off site, so have already made a profit before we have even bought it. So far, all is going very well, and the process has been ' very suprisingly' quite simple! and very quick. Both the lawyer and real estate agents we are using, both keep in regular touch by both phone and e-maiils, very helpful and are keeping us informed all the way (and speak English!).

We were told that property is at a bit of a stand still at the moment, but expecting to increase at some point?

Hope that helps a little, get in touch if there's anything else we can help you with.
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Old Jul 30th 2006, 10:37 am
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Default Re: help with buying a villa/ townhouse

Your property is only worth what people want to pay for it.

I have seen loads of people get ridiculous estimates on their houses only to sell for much less in reality
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Old Jul 30th 2006, 10:41 am
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Default Re: help with buying a villa/ townhouse

Originally Posted by jdr
Your property is only worth what people want to pay for it.

I have seen loads of people get ridiculous estimates on their houses only to sell for much less in reality
Of course,but you get a general idea by the other houses for sale,and the new build prices.
If you are greedy and stupid,it wont sell!!
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Old Jul 30th 2006, 11:05 am
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Default Re: help with buying a villa/ townhouse

Originally Posted by clerigogirl
Of course,but you get a general idea by the other houses for sale,and the new build prices.
If you are greedy and stupid,it wont sell!!
There are pages and pages of resales every week in the paper, a lot at reduced prices.
A lot of these were bought off plan for a quick profit, but still haven`t sold.
What amazes me is they are still building on every piece of land that is available, and lots of people are still buying off plan and still getting caught out.
It gotta change, but I dont know when
I think the Marbella situation will open a few peoples eyes, I feel sorry for all the people who have invested their money and all they will probably get is a bill for the demolition of their property.
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Old Jul 30th 2006, 11:31 am
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Default Re: help with buying a villa/ townhouse

Originally Posted by jdr
There are pages and pages of resales every week in the paper, a lot at reduced prices.
A lot of these were bought off plan for a quick profit, but still haven`t sold.
What amazes me is they are still building on every piece of land that is available, and lots of people are still buying off plan and still getting caught out.
It gotta change, but I dont know when
I think the Marbella situation will open a few peoples eyes, I feel sorry for all the people who have invested their money and all they will probably get is a bill for the demolition of their property.
Yes Ive read about that,its awful,as far as I know we havent had any problems like that in Portugal,but we went to Albufeira last wednesday to meet some friends,and the construction there is still massive,yet there are thousands of properties still for sale. :scared:
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Old Jul 30th 2006, 8:38 pm
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Default Re: help with buying a villa/ townhouse

What happened in Marbella?
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Old Jul 30th 2006, 9:23 pm
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Default Re: help with buying a villa/ townhouse

Originally Posted by TouristTrap
What happened in Marbella?
click on Malaya case, Two men, and Munos
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Old Oct 2nd 2006, 5:23 pm
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Default Re: help with buying a villa/ townhouse

Hi there, if you are still interested in purchasing property my partner works as a real estate sales advisor out here in the algarve. He would be able to provide you with any information you needed for a holiday home, rentals and investment property. Get in touch if you still need help.
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