Sourcing Discounted Property Abroad

[Holly Watson]

Previously I've invested in property through a developer in Spain. However, this time I'm looking to expand my portfolio and would like to source an individual property instead. I was wondering if anyone had any advice on the best location, and also the best person to contact who can source BMV properties directly abroad? Any advice would be much appreciated, many thanks.

 

[millicent]

Hi, im also looking to invest in spain. Ive found some rediculously cheap land on the web but it seems too good to be true, especially since its laid out like a shopping site where you can just 'place in basket' and go to the checkout to pay. I don't know who to ask but your thread seems the most relevant.

thanks for reading

 

[nmb]

It is strongly advisable to go through reputable firms when looking for discounted property because very often if it looks too good to be true it is too good to be true. You may pay a little extra going through a third party but at the end of the day at least you know what you are buying and you have a degree of protection.

 

[Veronica]

Ive found some rediculously cheap land on the web but it seems too good to be true, especially since its laid out like a shopping site where you can just 'place in basket' and go to the checkout to pay. I don't know who to ask but your thread seems the most relevant.

thanks for reading

 

[Veronica]

That really looks very iffy. How can you buy property off the internet in the same way as buying something from Amazon.
I would steer well clear of anything that looks so suspicious. As nmb says, if it looks too good to be true it usually is.
When buying any property, including land, you need to visit it, see what you are buying. Far too many people have been caught out by buying sight unseen and losing all their money.

 

[Dennis Cortez]

Dubai is a good alternative option for investing. Property price is expected to go up before expo 2020 where you can capitalise on appreciation. Whilst for the meantime, rental is good too in certain areas.

However, watch out for the hidden fees! Hope this helps.

 

[nmb]

I have watched the Dubai real estate market for many years, the rise and fall and the ongoing recovery. @Dennis Cortez I would be interested to know why you think property prices in Dubai will rise ahead of Expo 2020? Is the market well and truly back in favour with worldwide investors?

 

[Dennis Cortez]

All I can say is UAE Government is pushing hard to promote tourism and business in the country as well as leading the innovation race in the Middle East (all these outside the Oil Industry). And they themselves invest heavily on infrastructures. They want to be number 1 in the world! Though the property price as the world knows fell significantly during the recession in 2007/08 and up again dramatically by more than 20% in 2013 (Land Department statistics)

Factors to consider:
Pros: Apart from Expo 2020, more investors are still making Dubai a place of choice for investment. UAE wants to be number 1 in the world and they are doing something on it far beyond 2020!
Cons: The law of supply and demand doesn't make sense in Dubai. Some areas remain low and some areas are significantly too high.

With regards to the worldwide investors objective... it will depend if they are looking for capital appreciation or good rental yield. It's like investing in London on 3% rental yield but with high capital growth and/or place like Manchester and Liverpool where the rental yield can reach above 8% but with low capital growth. In Dubai, certain areas like Business Bay, Downtown, Marina, JBR and Palm are stable for flipping while in Deira, the rental demand is too strong!

Property investment is a matter of having a good strategy and intel within the area particularly for the BMV hunters like me who hunts properties for my friends who always want a good return on their investment. It's all about Location... Location... Location...

Hope this helps.

 

[Nicholas Wallwork]

Previously I've invested in property through a developer in Spain. However, this time I'm looking to expand my portfolio and would like to source an individual property instead. I was wondering if anyone had any advice on the best location, and also the best person to contact who can source BMV properties directly abroad? Any advice would be much appreciated, many thanks.

Europa Estates (current sponsors of this sub-forum - see their banner at the top of this thread) have contacts within the Spanish banks. The Spanish banks are basically acting as real estate agents at the moment as they have huge amounts of property stock to sell which they re-possessed in the credit crunch. So the deals are there to be had and 100% mortgages are now possible (again from the banks selling the stock as they want to sell it...). Prices are recovering all be it slowly so it does seem to be a potentially good time to start investing in Spain again.

 

[nmb]

Hi @Nicholas Wallwork Do you think Spanish property prices are currently being held back by the enormous number of repossessed properties held by the banks? Once this overhang is out of the way will prices move sharply to a higher level?