[OolloO]

I'm interested in purchasing property in southern Europe, right now I'm looking at Barcelona, Spain. With the property values declining in the cities/countries that are struggling, I think it wouldn't be so bad to consider.

I'm mainly looking for a 1 bed, 1 bath, living room and possibly den. Looking for an apartment so that I wouldn't have to worry about it while I'm not there. I would consider renting to friends and family that are interested in going.

I'm not particularly fixated on one location, but I prefer something that stays relatively warm and is near a major airport. It would be my base as I would like to frequent travelling around Europe in the future. I'm not exactly sure what the prices are, but I was thinking along the 200k euros range possibly just under 300k. Something 600 sq feet plus. Beaches close by is ideal, where the weather says above 10 degrees Celsius as a min through the whole year. The max temp is unlimited of course

From an investment perspective. Income would come from those "trusted" individuals I rent it to on an infrequent basis. And hopefully, once Europe improves their situation, property value will improve and appreciate. Additionally, their currency may improve as well.

Essentially, my questions to the forum are
1. Are there any other areas I should consider that fit my criteria?
2. Is there a European version of mls.ca or a good website?
3. Recommended foreign Realtors?
4. How's the idea sound to you?

Maybe I've been daydreaming to much today.....

 

[kelly22]

Maybe not Barcelona, but you have to focus on south spain, especially under Valencia-there are many opportunities for significant investments.

 

[pman]

Check out Seville. It has a good AVE connection to Madrid, an airport, a cultural life far beyond what you'd expect from a city of around 700 thousand, tremendous restaurants ranging from cheap to Michelin starred, a wonderful public realm, and a lot of young people thanks to the university. Avoid it in the summer when the heat and tourists make it unpleasant. I have no idea if Seville real estate is going to be a good investment - my guess is probably not given the European crisis - but it's a great city to hang out in. I'd put Aix en Provence in the same category - TGV connection, close enough to Marseilles airport and maybe even more interesting local day trips than Seville. Another great thing about Seville for Torontonians is that it doesn't get winter, at least not anything we'd call winter. The beach situation is somewhat problematic since you'll want to stay away from the tacky and overcrowded Costa del Sol and focus on the somewhat wilder Costa del Luz, but the city makes up for it.

 

[marsh]

Personally I would be concerned about Spain - one of their national banks have just been bailed out; alot of other banks have huge credit exposures due to the real estate property bubble that burst there so there could be further bailouts; high unemployment right now; concern that Spain will need to be bailed out by the EU etc. etc.

I too would love own a place in the south of Spain for getaways (I love Spain) but I think you had better get some expert advice. As a suggestion to start, search on line for Spanish realty companies that specialize in selling to foreigners. You should also get tax advice ,regarding property taxes, any income taxes on rental income generated and taxes on any gains on any future sale. I also suspect, as a non-resident of Spain, but don't know for sure, that mortgages would be very difficult or impossible to obtain, so I would be prepared to pay the full price in cash, (maybe you were planning on this) but again a real estate broker specializing in Spain could advise you of that.

 

[myblissfulhome]

I'm interested in purchasing property in southern Europe, right now I'm looking at Barcelona, Spain. With the property values declining in the cities/countries that are struggling, I think it wouldn't be so bad to consider.

I'm mainly looking for a 1 bed, 1 bath, living room and possibly den. Looking for an apartment so that I wouldn't have to worry about it while I'm not there. I would consider renting to friends and family that are interested in going.

I'm not particularly fixated on one location, but I prefer something that stays relatively warm and is near a major airport. It would be my base as I would like to frequent travelling around Europe in the future. I'm not exactly sure what the prices are, but I was thinking along the 200k euros range possibly just under 300k. Something 600 sq feet plus. Beaches close by is ideal, where the weather says above 10 degrees Celsius as a min through the whole year. The max temp is unlimited of course

From an investment perspective. Income would come from those "trusted" individuals I rent it to on an infrequent basis. And hopefully, once Europe improves their situation, property value will improve and appreciate. Additionally, their currency may improve as well.

Essentially, my questions to the forum are
1. Are there any other areas I should consider that fit my criteria?
2. Is there a European version of mls.ca or a good website?
3. Recommended foreign Realtors?
4. How's the idea sound to you?

Maybe I've been daydreaming to much today.....

Though you didn't mention Greece I can get you in touch with people in Athens and Santorini that can help you navigate real estate obstacles. There isn't an MLS system. In fact property sales are mostly handled by lawyers instead of realtors. Due to the financial crises Greece real estate has dropped tremendously and owning a piece of the greek islands is quite appealing

Regards,

 

[HelloToday]

The difficult part is finding those experienced people in those local regions - there are more than their fair share of scammers who would like to take a foreigner for a ride because they do not know any better. There is an opportunity here for people who are experienced in purchasing foreign real estate, native in both languages, to act as a bridge between Canada and a foreign market ....