Business buying property in Spain
Dec 13th 2016, 11:46 am
#16
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Re: Business buying property in Spain
By "Business purchase" I what I mean is the entity making the purchase. In this case my business will be the entity buying/selling/leasing properties with excess capital (as it is currently devaluing under UK inflation around 1.2% YTD).
In real terms I believe any investments made in europe after the pound recovers to anything near 1.33 to the euro will be viable.
Dec 13th 2016, 11:56 am
#17
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Re: Business buying property in Spain
Rosemary
Dec 13th 2016, 12:02 pm
#18
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Re: Business buying property in Spain
uopdom Look at
idealist.com
kyero.com
tucasa.com
I have a funny feeling you are now going to say that what you really need is an agent who can do the leg work for you and knows the ins and outs of it all, from a commercial entity point of view?
idealist.com
kyero.com
tucasa.com
I have a funny feeling you are now going to say that what you really need is an agent who can do the leg work for you and knows the ins and outs of it all, from a commercial entity point of view?
Dec 13th 2016, 12:13 pm
#19
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Re: Business buying property in Spain
The idealist could come in hands thanks for sharing.
Jonboy, thats right.
Only thing is finding a trustworthy individual/agent that isn't paid on commission to help broker the deal.
Something tells me you know somewhere?
Jonboy, thats right.
Only thing is finding a trustworthy individual/agent that isn't paid on commission to help broker the deal.
Something tells me you know somewhere?
Dec 13th 2016, 12:14 pm
#20
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Re: Business buying property in Spain
Estudio en Barcelona Capital en Ciutat Vella en Calle Boquer 140768117 | fotocasa
Dec 13th 2016, 2:29 pm
#21
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Re: Business buying property in Spain
Dec 13th 2016, 4:25 pm
#22
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Re: Business buying property in Spain
Sounds like you know a lot of the ins and outs to this snikpoh.
I'm sorry to hear about the drops in value, I hope this changes soon and I honestly think it could at some point. Do you know much about the last price rise and what caused it? I was reading into the drop being caused by a combination of 9/11 and the 2008 global downturn.
I had a feeling that collecting rent might be difficult there, I'd aim manage the lets personally and will be sure to vet tennants as much as the law enables me to. Do you know if the laws in Spain are slanted towards tenant or landlord rights? I'm aware in Finland the laws protect tenants and in the UK they are slanted more towards the landlord.
I'm sorry to hear about the drops in value, I hope this changes soon and I honestly think it could at some point. Do you know much about the last price rise and what caused it? I was reading into the drop being caused by a combination of 9/11 and the 2008 global downturn.
I had a feeling that collecting rent might be difficult there, I'd aim manage the lets personally and will be sure to vet tennants as much as the law enables me to. Do you know if the laws in Spain are slanted towards tenant or landlord rights? I'm aware in Finland the laws protect tenants and in the UK they are slanted more towards the landlord.
The price drop in Spain was solely due to the "crisis" - the global downturn. Absolutely zero to do with 9/11
What latest price rise? I know I'm not in a major city (only 36000 people live here) but prices here are either still falling or at best are stable.
We vet tenants as much as we can but with so many properties on the market, it's hard.
The law certainly favours the tenants.
As an example, one of our tenants has failed to pay the rent this month and only just paid last months. She is behind on her water bill by 4 months and her electricity by 3. She promised to clear it all up last week - she's now blocked us on WhatsApp, facebook messenger and won't take our calls. We went to the local police - no, go see the national and denounce her. Went to National, told we have to wait 3 months before we can get the Guardia involved and the courts. I asked what happens if she's been nasty and left the lights on, the water running etc. and was told there is NOTHING we can do about it until we are cut off or until the judge makes there ruling. This could involve many thousands in costs!!!!!
Dec 14th 2016, 6:52 am
#23
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Re: Business buying property in Spain
Transfer tax in Spain is ITP.
The price drop in Spain was solely due to the "crisis" - the global downturn. Absolutely zero to do with 9/11
What latest price rise? I know I'm not in a major city (only 36000 people live here) but prices here are either still falling or at best are stable.
We vet tenants as much as we can but with so many properties on the market, it's hard.
The law certainly favours the tenants.
As an example, one of our tenants has failed to pay the rent this month and only just paid last months. She is behind on her water bill by 4 months and her electricity by 3. She promised to clear it all up last week - she's now blocked us on WhatsApp, facebook messenger and won't take our calls. We went to the local police - no, go see the national and denounce her. Went to National, told we have to wait 3 months before we can get the Guardia involved and the courts. I asked what happens if she's been nasty and left the lights on, the water running etc. and was told there is NOTHING we can do about it until we are cut off or until the judge makes there ruling. This could involve many thousands in costs!!!!!
The price drop in Spain was solely due to the "crisis" - the global downturn. Absolutely zero to do with 9/11
What latest price rise? I know I'm not in a major city (only 36000 people live here) but prices here are either still falling or at best are stable.
We vet tenants as much as we can but with so many properties on the market, it's hard.
The law certainly favours the tenants.
As an example, one of our tenants has failed to pay the rent this month and only just paid last months. She is behind on her water bill by 4 months and her electricity by 3. She promised to clear it all up last week - she's now blocked us on WhatsApp, facebook messenger and won't take our calls. We went to the local police - no, go see the national and denounce her. Went to National, told we have to wait 3 months before we can get the Guardia involved and the courts. I asked what happens if she's been nasty and left the lights on, the water running etc. and was told there is NOTHING we can do about it until we are cut off or until the judge makes there ruling. This could involve many thousands in costs!!!!!
Dec 14th 2016, 10:06 am
#24
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Re: Business buying property in Spain
You can't compare the rest of Spain to the larger cities though. You are right that prices are dropping and probably will do for some time away from the main areas and sorry to hear about the tenants but that can happen anywhere. Even in the UK you can end up with a messy house and will have to pay huge bills if they can't pay and just move on.
For example, my sister in law rents a flat in Barcelona for EUR1,200 per month that has been up for sale for EUR700k for the past 10 years! There has not been a single viewing in that time. This is a 60m2 flat in Glories, the financial centre of Barcelona
My other sister in law has a 3 bed flat in Poble Nou which cost EUR600k 8 years ago. Still worth about that now because it is an atico 50m2 from the beach
So the problem in Barcelona is that desirable property in nice areas is already expensive. You can buy in the bad areas but then who is going to buy the property? In the bad areas you are relying on people on average salaries being able to buy them, and average salaries in Barcelona are terrible
Oh, and just to add that an estimated 20% of all property in Barcelona is empty. You cannot compete with that!
Dec 14th 2016, 12:39 pm
#25
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Re: Business buying property in Spain
The problem with Barcelona - and the rest of Spain, are the transfer taxes and incredibly low rental yields
For example, my sister in law rents a flat in Barcelona for EUR1,200 per month that has been up for sale for EUR700k for the past 10 years! There has not been a single viewing in that time. This is a 60m2 flat in Glories, the financial centre of Barcelona
My other sister in law has a 3 bed flat in Poble Nou which cost EUR600k 8 years ago. Still worth about that now because it is an atico 50m2 from the beach
So the problem in Barcelona is that desirable property in nice areas is already expensive. You can buy in the bad areas but then who is going to buy the property? In the bad areas you are relying on people on average salaries being able to buy them, and average salaries in Barcelona are terrible
Oh, and just to add that an estimated 20% of all property in Barcelona is empty. You cannot compete with that!
For example, my sister in law rents a flat in Barcelona for EUR1,200 per month that has been up for sale for EUR700k for the past 10 years! There has not been a single viewing in that time. This is a 60m2 flat in Glories, the financial centre of Barcelona
My other sister in law has a 3 bed flat in Poble Nou which cost EUR600k 8 years ago. Still worth about that now because it is an atico 50m2 from the beach
So the problem in Barcelona is that desirable property in nice areas is already expensive. You can buy in the bad areas but then who is going to buy the property? In the bad areas you are relying on people on average salaries being able to buy them, and average salaries in Barcelona are terrible
Oh, and just to add that an estimated 20% of all property in Barcelona is empty. You cannot compete with that!
I wouldn't say the whole of Barcelona has low rental yields and again depends who you are renting to. There are also international students, young couples etc. who aren't lawyers like your family. Apartments that can be bought for 70K still cost 600 to rent, so doesn't seem bad to me.
