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spanman

Now That's A Hpc

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Before H2B was announced I was looking at Spain and getting in at the bottom but with the UK now on the path to perpetual HPI then the guaranteed return from UK property means I will now invest in pound land.

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Why buy in an ugly block in Spain with possible structural problems, purchase tax, rip off service charge, requisition possibilities when it isn't properly registered, no NHS, no welfare. Looks like an expensive way to live when you can pick one up for 25K in Scarborough and never work again.......

http://www.rightmove.co.uk/property-for-sale/property-39460318.html

Free Yorkshire cricket or the bull run, the choice is yours.

Edited by crashmonitor

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The problem with buying in Spain (or Portugal or Greece) is that my guess is they'll exit the Euro within the next two or three years. They can't hold their societies together with current unemployment levels so eventually they'll be forced to leave.

In the long run that'll be the best thing for them. However, when it happens their replacement currencies will crash 30-40%, but local house prices won't budge an inch. No problem if you're a local intending to live your life there, but if you're a foreign buyer then you'll have taken a 30-40% haircut against your sterling investment.

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