moonriver Posted October 3, 2013 Share Posted October 3, 2013 Might be worth watching. http://www.itv.com/tvguide/ Bargains in the Sun: Tonight Today on ITV from 7:30pm to 8:00pm As the nights draw in, many people in Britain dream of owning a place in the sun. That dream has become less attractive in recent years, with the economies of countries like Spain and Greece in serious trouble. Now, with signs that the Eurozone is stabilising and property prices reduced by up to 50 per cent in some areas, many are starting to think again. Jonathan Maitland investigates whether they are right to do so. SUB Factual Current Affairs Quote Link to comment Share on other sites More sharing options...
moonriver Posted October 3, 2013 Author Share Posted October 3, 2013 More Brits (around 5.4million) are now considering buying in the sun they said, because of the property crash in EU,. (anything to do with houses being just too expensive here I wonder?) Greece down 30%, Buglaria down 40%, parts of Spain down 50%, they said. Quote Link to comment Share on other sites More sharing options...
zugzwang Posted October 3, 2013 Share Posted October 3, 2013 More Brits (around 5.4million) are now considering buying in the sun they said, because of the property crash in EU,. (anything to do with houses being just too expensive here I wonder?) Greece down 30%, Buglaria down 40%, parts of Spain down 50%, they said. Osborne's Death Bubble appears to be replicating Brown's to the nth detail. Quote Link to comment Share on other sites More sharing options...
Harry Monk Posted October 3, 2013 Share Posted October 3, 2013 It used to be called "A place in the Sun" when they were flogging apartments for £150,000, but now those same apartments are only worth £50,000 they have re-named it. Give it two years and it will be called "A £1 Apartment in the Sun", sponsored by Poundland. Same as "Homes under the Hammer", TV programmes never say what happened to the previous occupier. Quote Link to comment Share on other sites More sharing options...
The Knimbies who say No Posted October 3, 2013 Share Posted October 3, 2013 What about a bargain month's rental in the sun instead? Always about buying. How many years rent does the capital depreciation represent for the last wave of savvy Brits going to the costas? Quote Link to comment Share on other sites More sharing options...
moonriver Posted October 3, 2013 Author Share Posted October 3, 2013 How many years rent does the capital depreciation represent for the last wave of savvy Brits going to the costas? Interesting point, bearing in mind I think they said someone had lost £100k in a few years. Wonder how much the rent for longer term properties has dropped down there now? Quote Link to comment Share on other sites More sharing options...
workingpoor Posted October 3, 2013 Share Posted October 3, 2013 Had to chuckle when the couple said they wanted £630k compensation for their bulldozed villa "because that's what it was valued at, at the time it was knocked down" Quote Link to comment Share on other sites More sharing options...
sleepless Posted October 3, 2013 Share Posted October 3, 2013 Euro hpc may be 30% off peak. But then so is the £ against the euro. Not a big fall in real terms. Quote Link to comment Share on other sites More sharing options...
cica Posted October 4, 2013 Share Posted October 4, 2013 Only worth buying if you're going to emigrate or spend 6 months of the year in Spain. Otherwise, if you're going to spend as much as a month a year you can probably get 20 years worth of that for 12,000 and that would be a decent place too and near the airport. You can get decent places for 45,000 but there's a lot of hassle that comes with it of course. Quote Link to comment Share on other sites More sharing options...
Agentimmo Posted October 4, 2013 Share Posted October 4, 2013 (edited) Indeed. Why buy a place now , unless you are looking to retire in next 12 months or less? Capital growth is over for most of these markets. The pound makes it expensive at the moment. You can rent cheaply. As I mentioned previously out on another thread, I had 1 week in Tuscany in August for 600€, 1 bed in small residence. Pool. Great views. And owner threw in some bottles of Chianti. Nuts to buy. But hey, as the nights draw in, the average over-leveraged Brit might just think it's worth one further stretch on their finances and MEW their granny in order to live the dream. . . . . Edited October 4, 2013 by Agentimmo Quote Link to comment Share on other sites More sharing options...
winkie Posted October 4, 2013 Share Posted October 4, 2013 What about a bargain month's rental in the sun instead? Always about buying. How many years rent does the capital depreciation represent for the last wave of savvy Brits going to the costas? There are lots of places for sale < €50k freehold, lock up and leave type of places in established towns/villages. The main thing to consider is the running costs, local taxes etc, the cost to get there, size and popularity of nearest airport, transport at the other end......when they start charging +£50 to take a suitcase and hand luggage is the size of a handbag, either wear your clothes or have an available place to store them. Quote Link to comment Share on other sites More sharing options...
sleepless Posted October 4, 2013 Share Posted October 4, 2013 Indeed. I suspect their house prices are actually geared to the £ and the UK economy. Spain, Ireland etc were badly served by our devaluation and recession. Now that the £ is rising and the 'Champagne Tower' of London is overflowing once more, we should see price rises all round these peripheral holiday spots of Europe. further, if you buy at 1.15 euros to £ and when you come to sell the £ is 1.40 euros your profit after cgt (if any) will be hit big time. currency fluctuations are often ignored. Quote Link to comment Share on other sites More sharing options...
Dorkins Posted October 4, 2013 Share Posted October 4, 2013 Osborne's Death Bubble appears to be replicating Brown's to the nth detail. There is no bubble, the Bank of England looked into it last week and said there wasn't one. Quote Link to comment Share on other sites More sharing options...
Harry Monk Posted October 4, 2013 Share Posted October 4, 2013 Indeed. Why buy a place now , unless you are looking to retire in next 12 months or less? Capital growth is over for most of these markets. The pound makes it expensive at the moment. You can rent cheaply. As I mentioned previously out on another thread, I had 1 week in Tuscany in August for 600€, 1 bed in small residence. Pool. Great views Absolutely, my nauseatingly Bible-clutching God-bothering Aunt and Uncle, who in all honestly are probably the two stupidest people you will ever meet- they are convinced that the world was created by God in six days, 3000 years ago, and no number of physicists, biologists of chemists could ever persuade them otherwise- paid £150,000 for a small apartment in Spain about six years ago, annual service charges come to over double the amount you quoted to rent, and they never even go there any more because it's fallen in value so much that it just makes them unhappy thinking about it, never mind visiting it. Still as I'm sure they'd agree, the Lord moves in mysterious ways. Quote Link to comment Share on other sites More sharing options...
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