Which complex is best to invest in buy-to-let property?

[seba1982]

hi, I am looking to invest same savings in property in South of Tenerife (probably studio or 1 bed), any advice which complex would be the best in terms of return and rental potential? My budget only 70K euros, also thinking of repossession properties anyone has experience with it? many thanks for help

[Vortex Wake]

You will probably get a far better return by investing in a property in the UK .

[Ed3229]

You will probably get a far better return by investing in a property in the UK .
I was looking to invest in Tenerife but have now invested in UK.
I get a far greater return here so the dream can wait......:pray:

Hi all been away from the forum due to a new work project but I still look in from time to time...ED

[seba1982]

You will probably get a far better return by investing in a property in the UK .

hmm, I am from Bournemouth so for 65K I will not be able to buy anything:) Still any ideas what would be the best investment? buying property for 70K and renting out for 400 a month does not look bad (almost 7% return). In case of holiday rentals should get much more then that. I am not in rush so I will wait for good investment, as I live now here I would rather invest here:)

[Vortex Wake]

hmm, I am from Bournemouth so for 65K I will not be able to buy anything:) Still any ideas what would be the best investment? buying property for 70K and renting out for 400 a month does not look bad (almost 7% return). In case of holiday rentals should get much more then that. I am not in rush so I will wait for good investment, as I live now here I would rather invest here:)

Seba, I'm in Poole so I do understand the property situation locally .

I'd put my cash down on a 2 bed flat at around £120K ( say http://www.rightmove.co.uk/property-for-sale/property-35256982.html) - then get a BTL mortgage for the balance. You should yield around £550 a month - so the smallish mortgage is paid each month. In 12 years time - or when the next property peak arrives, you could expect to more than double your money - I somewhat doubt that the same will be said for Tenerife.

In Tenerife, 70k Euro (minus fees) will buy you a small property with less than ideal holiday rental prospects.

[seba1982]

Seba, I'm in Poole so I do understand the property situation locally .

I'd put my cash down on a 2 bed flat at around £120K ( say http://www.rightmove.co.uk/property-for-sale/property-35256982.html) - then get a BTL mortgage for the balance. You should yield around £550 a month - so the smallish mortgage is paid each month. In 12 years time - or when the next property peak arrives, you could expect to more than double your money - I somewhat doubt that the same will be said for Tenerife.

In Tenerife, 70k Euro (minus fees) will buy you a small property with less than ideal holiday rental prospects.


many thanks for advise, will think about that :)

[CIM]

Castle Harbour in Los Cristianos is probably the lowest priced good touristic place with decent returns.
http://tenerifeestateagents.net/bargain-studio-on-castle-harbour-los-cristianos-for-sale/

[seba1982]

Castle Harbour in Los Cristianos is probably the lowest priced good touristic place with decent returns.
http://tenerifeestateagents.net/bargain-studio-on-castle-harbour-los-cristianos-for-sale/

many thanks, perfect price :)

[rosemary]

hi, I am looking to invest same savings in property in South of Tenerife (probably studio or 1 bed), any advice which complex would be the best in terms of return and rental potential? My budget only 70K euros, also thinking of repossession properties anyone has experience with it? many thanks for help

My advice would be DON"T DO IT!!! Not in Spain or The Canaries. First off the rentals are not that easy to come by. Don't be seduced by Estate Agents. There is an overload of rentals here. Secondly you have to put outgoings against the rentals and some are costly. Thirdly your investment capital is NOT going to increase. At this moment in time there is a massive amount of steadily reducing in price properties for sale here. Also the euro v sterling, is not going to improve.
I know it's nice to think you have a place to call 'home in the sun' but remember YOU CAN"T AFFORD TO USE IT! You have to rent it out!

Buying any property here is a bad move IMO. If you really want to put your 75K to the best use do as above suggests and buy in the UK, you will only gain.

We have lost out bigtime. A villa in Spain we had to 'give away' and the flat we are now in was supposed to double in 10 years, it has halved in value.

[CIM]

Castle Harbour is very busy as are several touristic complexes in Los Cris, Royal Palm and Paloma Beach being two that I know off the top of my head that also run at high occupancy. Prices are not falling on complexes like these as they are at the point where the return in comparison to price means people will always buy them so capital appreciation, whilst not on the horizon in the short term, will certainly occur long term and anyone buying should be thinking long term anyways.

Please do not tar me with the "bad estate agent" brush you may now apply to those that sold you your properties - many people have bought badly, thats their own fault for not working with an agent who gives good advice or simply not taking advice of anyone and thinking they know what they are doing when they dont.

Investing in property anywhere (including BTL in the UK) carries risk (as do shares, bonds etc.) If you aren´t prepared to take any risk, dont buy or invest in anything.

Another forum member bought from me on this complex last year, his studio does very well and he is more than happy with it....

[rosemary]

Castle Harbour is very busy as are several touristic complexes in Los Cris, Royal Palm and Paloma Beach being two that I know off the top of my head that also run at high occupancy. Prices are not falling on complexes like these as they are at the point where the return in comparison to price means people will always buy them so capital appreciation, whilst not on the horizon in the short term, will certainly occur long term and anyone buying should be thinking long term anyways.

Please do not tar me with the "bad estate agent" brush you may now apply to those that sold you your properties - many people have bought badly, thats their own fault for not working with an agent who gives good advice or simply not taking advice of anyone and thinking they know what they are doing when they dont.

Investing in property anywhere (including BTL in the UK) carries risk (as do shares, bonds etc.) If you aren´t prepared to take any risk, dont buy or invest in anything.

Another forum member bought from me on this complex last year, his studio does very well and he is more than happy with it....

I would never dream of tarring you, or feathering you...you are in the business of selling, of course you will be optimistic, it's your job to be so. Wish I could feel the same way. BTW our agent was excellent. Not his fault the market crashed when it did and has a long way to go before recovery. Too long for us jubilistas!

[YOUNG GOLFER]

Why not contact forum member chris he bought a nice property here and he comes into my office every time he is over and i am sure he will tell you he is very happy with his investment.

Some photos of his lovely apartment on Castle Harbour

http://www.tenerifeforum.org/tenerife-forum/album.php?albumid=330

[9PLUS]

It is quite a nice complex

[universal]

Bank repos might be the way to go, 2 bedroomed apartments in Las Chafiras on offer from €25,700.
If it is investment property you are looking for these take some beating.
Even at a modest rent of €325 per month you have your investment back in 6.5 years and a nice little nest egg.
Multiply by 2 or 3 and you have the start of a small portfolio.

[9PLUS]

maybe a link to these offers?

[YOUNG GOLFER]

Could this be it mate....
http://www.thinkspain.com/properties-in-spain/3/6

Me being a nice agent;)

[9PLUS]

Cheers YG


Whatever it is it seems like a bargin

[Vortex Wake]

many thanks, perfect price :)

Yes, CIM and Young Golfer are the only 2 agent I'd recommend using in Tenerife - having met then both a few times.

Andy/CIM - I see you are still pushing up the viewing count on my 11 Bed Villa video ;) :) :)