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RichieIchiban

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About RichieIchiban

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  1. That's the problem, I don't really see many great yields. You see properties advertised which are only 40k Euros and and yet only have a 5% yield. This implies that Germans are renting such apartments for only 2k a year. I didn't realise that taxes were so high? Even so, if you're tax resident in England then the UK government will only tax you what other countries' governments don't anyway. That's the classic trap which people fall into when they buy in the middle east and assume that they don't have to pay capital gains on appreciation or income tax on rental income.
  2. In my mind Northern Cyprus sounds like a far more risky investment than Germany due to potential political instability. Having said that, high risk can lead to high reward. Still, I wouldn't embark on a risky investment unless it was with money that I couldn't afford to lose a substantial proportion of.
  3. To be the idea of renting is a sound one (be it here or abroad). We're currently looking at moving to Japan for a year or two. Rents are far cheaper than the mortgage on the same property would be (and the property is likely to depreciate anyway). English people seem to have developed this obsession with buying property, and their reasons for doing so are often based on false assumptions. Renting your way around the world sounds like a fantastic idea. No legal fees, insurance, maintenance or negative exposure to a risky property market.
  4. I looked at buying property in Berlin quite seriously about 18 months ago. I recently started looking again and to my surprise it seems that prices haven't really increased. In fact, in some areas prices literally seem too good to be too. If I was to buy anywhere in Europe now then Berlin would probably be my first choice, but I'm just wondering how long it will take before any captial appreciation is really seen. Does anybody have any views on this?
  5. Many members of my family live in Spain (South of Barcelona). Property has been a dinner table topic for the last 6 or 7 years, however, views expressed have really changed of late with everyone noticing a decline of prices. It's not that surprising either given the sheer volume of building which has been going on over the last few years. The fact is that nobody who I know is expecting the value of Spanish property in that area to increase in the short to medium term. Yes, Spanish property may be a good long term investment, but even if it is, why buy now? Given the inevitable sharp dip which the market is embarking on surely the best policy is to wait a couple of years. Yes, you miss out on use of the property, but the volume of rental properties available means that holiday villas can be rented for very reasonable prices in the meantime. Yes, you could buy now and make money in 20 years, or you could wait a few years and potentially make a whole lot more money. Brian, with all due respect, are you unware of the oversupply situation in Spain? Or do you have a vested interest in seeing demand increase?
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