Posted: Wed Jul 10, 2019 9:27am
Why so many for sale?
1. Many bought without doing any homework* and couldn't offload because of the huge reduction in price of property during the recession. Some have gained something back due to rentals. Property prices have gained 15% on average over the last two years (rule of thumb!!!). Therefore, the sensible thing to do is sell now and get some return on the investment.
2. Why buy property when you can rent relatively cheaply? When you buy you tie up thousands and thousands. You can rent long term cheaply without tying up much and if you have second thoughts you can always return to the UK.
3. Renting out property is not a doddle. It has to be worked at. Maintenance is an issue. Then there are the utility bills, Spanish taxes, cleaning fees, moans and groans etc.
4. Spain is in recovery from the recession, but when will the next recession strike?
* Rule No. 1 before purchasing Spanish Property:- Rent in the area for no less than 5 weeks in the off season. Most questions will be answered during the 5 weeks.
Electricity and Water Interruptions:- You're in Spain - Get over it!