Castle Asia Share Discussion Threads

[glennborthwick] 11/11/2003 15:10

Perhaps the rise has therefore been in spite of the german problems. What I'm hearing re France is that under 200 000 euros is strong still, Paris is bouyant and parts of the cote dazur are fine but more expensive properties and especially those over 500 000 are more difficult to shift due to germans/weak dollar.

If the dollar rebounds expensive properties will rise again IMO.

gb

[maxk] 11/11/2003 12:22

supreme,

Thanks for that, you have neatly listed many of the reasons to be carefull when buying props in spain. My observations where mainly about the costa blanca.



Huge building programme, how that helps potential investors is beyond me.

Dissapearing Germans....over 50% of the market gone, how does that help.

Wildly overpriced property, fuelled solely on foriegn money. The locals cant afford these prices. What happens when the hot money dries up?



BTW, I have owned my main prop in france since 1996, and that is now overpriced too imo.


However, I havent given up on spain yet, and will be travelling down to almeria and surrounding regions mid jan 2004. It sounds like you operate in that area, if you would care to contact me on [e-mail] perhaps we could meet?

[glennborthwick] 09/11/2003 19:47

thanks to thomas for the html link for a guest book

say hello if you pop in

[glennborthwick] 09/11/2003 14:53

trying to find a way to install a guestbook so you can all sign in ;)

[glennborthwick] 08/11/2003 21:34

The website is now linked and out their although obviously in development

[glennborthwick] 04/11/2003 20:43

Updated and trying a new style

[glennborthwick] 03/11/2003 16:45

I think housing market in UK is pretty much dependent on where you live.

Im pretty confident re France but I'm buying for a minimum ten year period

[supreme] 03/11/2003 08:34

Maxk

"In other words....bad time to buy". NO your wrong, its a good time, you are aware that the Germans have been leaving Spain because of tax reasons, some are selling in a hurry, with large discounts.
We have areas less than 1 hour drive from Malaga airport with property selling for approx half the price as the coastal areas, these areas are on good road links, good areas to live and less than an hour away from the beaches etc, I have read alot of your posts in the past and wonder when your entry point would be into buying property - anywhere!!!!
We consider our market in the short term will be good for another 5 years, after that who knows, but the same could be said about any market, I have been reading the "UK House Prices -The next bubble waiting to burst ?? thread (started feb 01) on here for the past couple of years and commented once that given time the thread will ring true - but how much time? the thread is nearly 3 years old.
Spain has a building program of 750,000 properties for 2004 and they wil be built.
Anyway far be it for me to argue with the "experts" of my market, the most valid points I have been making (which has gone un-noticed) is those thinking of entering the Property abroard market for what ever reason - MUST DO THEIR OWN RESEARCH, I have many horror stories that I could write about, most are the fault of the buyer for not dyor....and trusting people they do not know with large chunks of their money, doing things that they would not even consider doing in their own country.
Have a nice day, - its a bit cloudy here at the moment but still warm

[glennborthwick] 02/11/2003 22:39

if you are interested in buying a leaseback property
Should be in a position to get you a discount ;)

email me [e-mail]
Ive added loads of stuff today

[sheneeqa] 02/11/2003 22:18

Not true maybe bad time to buy in the costas, but other regions of spain still
huge potential and in these places cost of living is half, when I have time to give a more in depth post I will brief you on these regions.

[maxk] 02/11/2003 22:07

Taken from supreme's post #158....from the horses mouth, as it where:

"We think the Spanish property is now over priced (like the UK) however sales are still good and the prices are still going up – BUT there are more bargains about as some people need to sell….."

In other words....bad time to buy.

[glennborthwick] 02/11/2003 21:25

In just a couple of days Ive built up several contacts all interested in having a link on this leaseback site notably

www.francevoila.com




thanks supreme

[supreme] 02/11/2003 20:14

Glenn
With reference to % buyers, we have never worked it out, but assume UK probably approx 50% and 40% over Europe, but we are getting huge hits (and interest) from America and Canada at the moment and we have an Israeli Client buying huge parcels of building land, and it seems from what he said some of the property will be for his people (not sure about that though)
I do not know anything about lease back over here, only Sales and Holiday rentals – most people buying apartments are happy to let them in the peak months and make a lot of cash money, ok its not ideal as the Spanish or UK tax man might catch up with them eventually, but its been done like that here for years and still going on. All their property bills are paid for, plus plenty for the extras.
We think the Spanish property is now over priced (like the UK) however sales are still good and the prices are still going up – BUT there are more bargains about as some people need to sell.....
Anyone buying property abroad should consider this, it is reckoned that approx 50% of UK buyers, buying to move to Spain, sell up and move back to the UK within 1 – 2 years, and I am sure there is a similar % for any other country, another thing to consider is that, when will it be the right time for them to sell there investment as there is always some one saying, sell now or don't buy because of market conditions etc etc.
Every country needs to be researched by the people that are proposing to buy, there are always down sides but speaking from my own experience here there has been a huge upside for me and pretty well everyone I know here.
Best of luck

[glennborthwick] 02/11/2003 19:49

I know spain does rarely have leaseback schemes but becasue vat is only 6-7% theres less benefit there

Are you involved in any

[glennborthwick] 02/11/2003 19:48

Thaanks supreme - great feedback

could you advise rough percenatges

gb

[supreme] 02/11/2003 19:44

Glenn, you THINK!! "I think Spain is highly dependent on UK market"
We deal with a lot of UK people, but also, German, Norwegian, Swedish, Dutch, French (yes French), in fact people from all over Europe, Russia, America, Canada, and I am sure we will soon be seeing the new members of EU coming here.
Our web site stat counter shows that we have the world looking at Spain at the moment. Spain is the most desired place in the world to live - allegedly.
But - like any other investment, the investors need to dyor, the market here is not as wobbly as people that push other markets would have you believe.
I like what you have done with your web site, BUT - be careful, as it appears that you are making it too easy for the "French Property Investor" just to follow your advice - (because they read it on a web site)
Every one should do their own research, and tread very carefully - where ever they are going to buy.
My web site for anyone interested in Spain
Good luck property investors

[glennborthwick] 02/11/2003 12:47

I think Spain is highly dependent on UK market where as France is far more cosmopolitan

GB

[m1connection] 02/11/2003 12:28

And indeed your arguments for the French Property Guarantee scheme....might make some choose France over Spain ?

[m1connection] 02/11/2003 12:26

Glenn....not knocking what you are doing, just giving some other angles.

[glennborthwick] 02/11/2003 12:02

thanks max and others

M1 - your point about buying for enjoyment is extremely valid

Thats IMO the great thing about leaseback. You get use of your apartment/villa for between 3 and 6 weeks a year which is enough for most people who are working. After 9 years you can live in it. Meanwhile the guarenteed rental witn no management or maintanenece worries is a huge incentive and oyu end up with your mortgage ont he property paid off. At the end of the 9 year periods you should have gained markedly from capital appreciation, as well as benefiting from the 16.4% tax rebate and the fact that instantly your property is worth a hell of a lot more beacuse it's not tied to a lease anymore.

my leaseback portal

constructive criticism welcome

[m1connection] 02/11/2003 11:15

Also whatever you say about Europe....it's also safer !

[m1connection] 02/11/2003 11:14

So in my view, I would only buy a NON-U.K. property for my own use/fun/investment etc....

Pure investment {market timing etc aside}....stick with the U.K.

[m1connection] 02/11/2003 11:12

Remember that market timing etc aside that if you buy property within the U.K. and utilise it so that it qualifies as a business asset that after 2 years the CGT payable on sale will be at an effective rate of ONLY 10%.

[tradermanic] 02/11/2003 10:55

Good thread this, I have just sold my holiday home in Norfolk, and am now looking to purchase one in Spain or southern France, reading some of these posts has been a very usefull, eye opening experience.

Posters with actual experience,please keep posting.