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

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

    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

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    I need a wee Vortex Wake's Avatar

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    Re: What complex best to invest in BTL property

    You will probably get a far better return by investing in a property in the UK .
    Tenerife Sur / Renia Sofia (GCTS / TFS) Airband Radio Frequencies
    Approach Frequency 120.3MHz, also 127.7MHz :: Tower Frequency 119.0MHz :: Ground Frequency 121.9MHz :: ATIS Frequency (local airport weather) 118.675MHz :: VOLMET LasPalmas 126.2 MHz

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    Re: What complex best to invest in BTL property

    Quote Originally Posted by Vortex Wake View Post
    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......

    Hi all been away from the forum due to a new work project but I still look in from time to time...ED
    Pardon me my ear is full of milk
    "Well, if we caught...the money...and gave it to the fish...anybody we sold it to wouldn't have to pay for it"

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    Re: What complex best to invest in BTL property

    Quote Originally Posted by Vortex Wake View Post
    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

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    Re: What complex best to invest in BTL property

    Quote Originally Posted by seba1982 View Post
    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-...-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.
    Tenerife Sur / Renia Sofia (GCTS / TFS) Airband Radio Frequencies
    Approach Frequency 120.3MHz, also 127.7MHz :: Tower Frequency 119.0MHz :: Ground Frequency 121.9MHz :: ATIS Frequency (local airport weather) 118.675MHz :: VOLMET LasPalmas 126.2 MHz

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    Re: What complex best to invest in BTL property

    Quote Originally Posted by Vortex Wake View Post
    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-...-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

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    Re: What complex best to invest in BTL property

    Castle Harbour in Los Cristianos is probably the lowest priced good touristic place with decent returns.
    http://tenerifeestateagents.net/barg...anos-for-sale/
    Buy or sell your Tenerife Property through Trusted Estate Agents
    Contact us for an informal chat about any aspect of buying or selling in Tenerife

    Las Carabelas, Local 6, Avenida de España, 38660, Torviscas.
    http://TenerifeEstateAgents.net

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    Re: What complex best to invest in BTL property

    Quote Originally Posted by CIM View Post
    Castle Harbour in Los Cristianos is probably the lowest priced good touristic place with decent returns.
    http://tenerifeestateagents.net/barg...anos-for-sale/
    many thanks, perfect price

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    Re: What complex best to invest in BTL property

    Quote Originally Posted by seba1982 View Post
    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.

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    Re: What complex best to invest in BTL property

    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....
    Buy or sell your Tenerife Property through Trusted Estate Agents
    Contact us for an informal chat about any aspect of buying or selling in Tenerife

    Las Carabelas, Local 6, Avenida de España, 38660, Torviscas.
    http://TenerifeEstateAgents.net

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