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Rent-To-Buy in Spain... Experience or Opinion

Rent-To-Buy in Spain... Experience or Opinion

Old Nov 30th 2011, 2:35 am
  #31  
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Default Re: Rent-To-Buy in Spain... Experience or Opinion

If the selling price is fixed at the start of a rent to buy contract, then it can't possibly work in Spain (for the buyer).

Spanish house prices have been in freefall for the past three years or more, and every indicator, even from the Spanish government itself currently indicate that even more falls are due over the next two years at least.

Developers, builders and even banks have gone bankrupt with toxic property portfolios that are largely unsellable, at any price.
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Old Nov 30th 2011, 2:44 am
  #32  
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Default Re: Rent-To-Buy in Spain... Experience or Opinion

Depends - if the price is fair in the current market, the buyer has to live somewhere and if he has found the house he wants he might as well be paying a rent that is reducing his final purchase price as against normal rent which is
totally 'lost.'
The buyers also feel settled and secure and can make it feel like a home and not just a rental.
The huge percentage drops are in the past and property is selling again in our area evidenced by more agents opening again and more property adverts in the papers. Albeit mostly the cheaper end of the market.
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Old Nov 30th 2011, 3:21 am
  #33  
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Default Re: Rent-To-Buy in Spain... Experience or Opinion

Originally Posted by spainrico
Depends - if the price is fair in the current market, the buyer has to live somewhere and if he has found the house he wants he might as well be paying a rent that is reducing his final purchase price as against normal rent which is
totally 'lost.'
The buyers also feel settled and secure and can make it feel like a home and not just a rental.
The huge percentage drops are in the past and property is selling again in our area evidenced by more agents opening again and more property adverts in the papers. Albeit mostly the cheaper end of the market.
I notice that we both live in the Valencian community, as does the OP. Our two biggest lenders, CAM bank and the Banco de Valencia have recently gone bust and were taken over by the Bank of Spain and billions of taxpayer's money has had to be pumped into both of them just to keep them afloat.

The BOS has tried to sell them, especially CAM, but nobody will touch their property portfolio, hundreds of thousands of ridiculously overpriced properties, many on uncompleted building projects which have no resale value.

CAM has tested the market by releasing a tranche of 'slum' repossessions with offers of 120% mortgages, but there were few takers. The scheme guaranteed negative equity on a grand scale from day one.

At some stage more repossessions, tens of thousands of them, will have to be released on to the market. I can't even guess what will happen to the Spanish property market.
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Old Nov 30th 2011, 5:33 am
  #34  
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Default Re: Rent-To-Buy in Spain... Experience or Opinion

Originally Posted by HBG
At some stage more repossessions, tens of thousands of them, will have to be released on to the market. I can't even guess what will happen to the Spanish property market.

LOL !! You are a cheerful soul !! - The new Spanish Govenment will sort us out !?!?!?!?!?!?!?!

so what is your suggestion then ?
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Old Nov 30th 2011, 5:44 am
  #35  
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Default Re: Rent-To-Buy in Spain... Experience or Opinion

Originally Posted by GrapeEater
LOL !! You are a cheerful soul !! - The new Spanish Govenment will sort us out !?!?!?!?!?!?!?!

so what is your suggestion then ?
Well, that's an easy one - don't buy in Spain at this time, the market is falling. And renting is getting cheaper by the day.

As for the new PP government? They're Conservatives and like their cousins all over the world are not foreigner friendly.
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Old Nov 30th 2011, 5:56 am
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Default Re: Rent-To-Buy in Spain... Experience or Opinion

Originally Posted by GrapeEater
LOL !! You are a cheerful soul !! - The new Spanish Govenment will sort us out !?!?!?!?!?!?!?!

so what is your suggestion then ?
I am waiting for the prices to fall further, then I will sell an old bike that my marida doesnt use anymore and I will buy a penthouse flat with the money I get for the bike.

I just hope everyone doesnt cotton on to my plans and beat me to it.
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Old Nov 30th 2011, 6:33 am
  #37  
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Default Re: Rent-To-Buy in Spain... Experience or Opinion

Originally Posted by JLFS
I am waiting for the prices to fall further, then I will sell an old bike that my marida doesnt use anymore and I will buy a penthouse flat with the money I get for the bike.

I just hope everyone doesnt cotton on to my plans and beat me to it.
Have you ever considered selling the marida? You may be able to buy a Hacienda, with fighting bulls roaming the plains and regular visits from Royalty.
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Old Nov 30th 2011, 6:40 am
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Default Re: Rent-To-Buy in Spain... Experience or Opinion

Originally Posted by HBG
Have you ever considered selling the marida? You may be able to buy a Hacienda, with fighting bulls roaming the plains and regular visits from Royalty.
Thanks for the suggestion H, it gives me something to mull over......

These descisions should not be taken lightly.
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Old Nov 30th 2011, 7:26 am
  #39  
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Default Re: Rent-To-Buy in Spain... Experience or Opinion

Originally Posted by JLFS
Thanks for the suggestion H, it gives me something to mull over......

These descisions should not be taken lightly.
Well, I've considered it too. It probably makes me a bad person.

In my case I'm working on basics. 10 mils a kilo. It would make me a millionaire, a happy one.

In case the Closer gets too excited, we are still discussing the original topic. Albeit with a sense of humour. Here we go.
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Old Nov 30th 2011, 7:50 am
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Default Re: Rent-To-Buy in Spain... Experience or Opinion

Originally Posted by HBG
Well, I've considered it too. It probably makes me a bad person.

In my case I'm working on basics. 10 mils a kilo. It would make me a millionaire, a happy one.

In case the Closer gets too excited, we are still discussing the original topic. Albeit with a sense of humour. Here we go.
I hope you can change screens as quickly as I can......if dont hear from you for a while we will know that your marida has caught you........
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Old Nov 30th 2011, 10:19 am
  #41  
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Default Re: Rent-To-Buy in Spain... Experience or Opinion

Originally Posted by JLFS
I hope you can change screens as quickly as I can......if dont hear from you for a while we will know that your marida has caught you........
Just going totally offtopic for a nanosecond, mention of the marida reminded me that I accidentally (I blame you, JL) used the word marida in conversation with a neighbour a couple of days back. He is no educated man, but swiftly corrected me

Sorry.
As you were!
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Old Nov 30th 2011, 6:33 pm
  #42  
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Default Re: Rent-To-Buy in Spain... Experience or Opinion

Originally Posted by fionamw
Just going totally offtopic for a nanosecond, mention of the marida reminded me that I accidentally (I blame you, JL) used the word marida in conversation with a neighbour a couple of days back. He is no educated man, but swiftly corrected me

Sorry.
As you were!
The word "marida"should not be used accidently, that is where you went wrong, you should say it with conviction, with emphasis, then the anal old sod would not dare to correct you.......

It is like saying thank you with the words "muchas veces" instead of the usual muchas gracias, or hasta lugo, hasta lumbago, etc if done properly nobody will correct you.
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Old Nov 30th 2011, 7:01 pm
  #43  
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Default Re: Rent-To-Buy in Spain... Experience or Opinion

Originally Posted by JLFS
The word "marida"should not be used accidently, that is where you went wrong, you should say it with conviction, with emphasis, then the anal old sod would not dare to correct you.......

It is like saying thank you with the words "muchas veces" instead of the usual muchas gracias, or hasta lugo, hasta lumbago, etc if done properly nobody will correct you.


actually I reckon 'marida' is sneaking in big time - my students say it a lot

I do correct them, but have wondered what would happen if I & others stopped doing so - I'm sure it would become accepted, especially since most Spanish people seem to know what it means



we thought of doing a rent to buy (there are some developments around here offering it) - but for the simple reason that you have no idea what the market is going to do, we decided against it
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Old Nov 30th 2011, 7:48 pm
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Default Re: Rent-To-Buy in Spain... Experience or Opinion

Originally Posted by lynnxa


actually I reckon 'marida' is sneaking in big time - my students say it a lot

I do correct them, but have wondered what would happen if I & others stopped doing so - I'm sure it would become accepted, especially since most Spanish people seem to know what it means



we thought of doing a rent to buy (there are some developments around here offering it) - but for the simple reason that you have no idea what the market is going to do, we decided against it
This is clearly going to be a stupid question, but if you do rent to buy is the price of the property determined at day 1, and the rental determined at day 1 too?
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Old Nov 30th 2011, 8:23 pm
  #45  
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Default Re: Rent-To-Buy in Spain... Experience or Opinion

Originally Posted by fionamw
This is clearly going to be a stupid question, but if you do rent to buy is the price of the property determined at day 1, and the rental determined at day 1 too?
Everything is agreed on day 1, the length of time for the rental period, the price of the property, the depositamount, the monthly rent, and the percentage of rent that comes of the asking price when the deal goes through.
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