Why I'm Not Buying Cheap Property in Spain or Italy

[@martywize5909]

Spain has a great climate, low cost of living, excellent beaches and mountain scenery and great healthcare. If you have a property that’s fallen in value so what? Enjoy it!! It is STILL a great, safe place to live and will always be the number 1 place in Europe for tourism. It will bounce back, where else can you get 300+ sunny days a year?

[@Hartformer2]

Marty Wize not that sunny and not that cheap. But it’s true that the life conditions are great.

[@adi-kr6sh]

Portugal?

[@jamietherooster]

Without tourism, even for 6 months, spain could collapse. If it collapses, It will not be Europes number 1 place for tourism.

[@Lunatic4Bizcas]

California, but it's too expensive (generally speaking)

[@deliagonz2303]

👏👏👏👍🏻

[@footballdreamer9275]

Excuse me. Cheap property? You dream bro. Our market is expensive as hell. The thing is our income is way lower than countries like Germany, France, UK or Nordic ones and they come here, buy our land to have their vacations house and its so cheap they would pay any amount. The market is highly inflated by foreign investors.But if you compare prices towards Spanish salaries, even rentals not acquisitions, its probably the most expensive market in price to income ratio in Europe. That explains why 80% of spaniards under 30 years of age still live with their parents. I am 26 and me and all my friends live with our parents, even with a full time job we cannot afford rentals or purchase houses.

[@info781]

Good comment, wealthy foreign investors are always buying property, it is safer than the stock market.

[@riqqarddopv7918]

Pobrecito saludos desde California güey👍

[@Karl__Pierre]

Can you give examples. What city are you in, what do you earn/take home in pay per month and how much would an apartment cost?

[@footballdreamer9275]

@@Karl__Pierre Mallorca, base salary is 1200-1500 net. Apartment not under 700. Food 250-300. Transport depends. Basically you live to work to pay. Madrid, base salary 1200-1400. Transport 30. Food 200-350. Flat not under 800€.

[@Karl__Pierre]

@@footballdreamer9275 this is actually how it is in the USA. And almost everywhere in the world. So it doesn't seem to be a problem unique to Spain. Madrid 800 for an apartment is super cheap. In New York City my 30 sq meter flat is $2300! But yes in comparison to the previous countries listed your earnings are less. What are your options in this case? You can move or try to earn more money in your area by focusing your efforts on development of skills for the highest paying jobs or look to hustle for more.

[@lanceking4863]

In Spain, in the Canary Islands, having property here can be a nightmare because squatters are protected by law and you can't kick them out legally unless you go to court and fight for a year or two. It's absolutely insane for people who have second homes. The buses that were picking up the migrants that came in on the boats today end up getting paid about 30 euros per day from the taxes and they just go off to find a summer home that is not occupied. It's absolutely insane here. I took the legal route and it takes more than a year for non-EU citizens to get set up. You are treated like a criminal by the local tax office "Hacienda" and they have no qualms about slapping a 30,000 euro fine on your business if you are missing paper receipts (yes, they want all original paper receipts to complete taxes and for audits, which is insane keeping all paper receipts) and then expecting you to spend even more money in court to fight the fine. The government employees are mostly acting like god figures knowing that their salary is safe instead of acting like civil servants who are there to support the people who is paying their salaries. It was a very disappointing experience and more than 3 years in, it's still absolutely a debacle even for the lawyers who I have to hire to keep up with it.

[@Nomad_783]

is it really that bad???

[@gianinepreuss9999]

Why does Spain pay migrants 30 euros a day? What economic utility do migrants produce to earn this money? It would suggest then for investors to shore up as migrants and see if the rules favour them. Arrive without documents, declare yourself a victim, and you get paid?

[@lanceking4863]

This is a great question @@gianinepreuss9999 ...humanitarian? Score political points with left leaning political parties?

[@annapreuss88]

Are you still in Italy, or have you moved on to a more reasonable location?@@lanceking4863

[@astrongsociety5501]

​@@gianinepreuss9999To win the kalergi price? To move along with the plan of transforming Europe?

[@mrodriguez5079]

I live in Valencia and can't wait to get out,crazy taxation,low wages and an inheritance taxation of 35%,yes 35%, wouldn't invest a peanut here no matter how much sun,sun don't pay the bills

[@Did447]

УаУ

[@ir0n2541]

The UK has inheritance tax of almost 50%

[@rsksssk3120]

@@ir0n2541 yeah but your mean income is like 3k euro per month and ours is 1k and if you are very very Lucky 1.5k, im actually thinking about moving to UK since unemployment here in Spain is 20% and youth unemployment 50%...

[@guaposneeze]

Yeah, Spain (and Italy) is fantastic as a place to move to if you did your career someplace else. Terrible place to live off local wages or make investments. Not a growing/booming economy, so it's super hard to get started there and save enough to get ahead. But once you are at the end of your career and you can "geo arbitrage," it's a nice and cheap enough place to spend the wages you made some place else. Work in America. Invest in Serbia. Fine. Then, have lunch in Spain. Have dinner in Italy.

[@mrodriguez5079]

@Univac AI yes you can get a nice flat in a nice neighborhood for 300.000,in Valencia for example,but watch your income taxes etc

[@Bethechange]

Europe is a tax hell! Greetings from Germany.

[@CharlesDorsay]

Move to Somalia then... 0 taxes.

[@andreasfeith2544]

Germany is not too bad if you set up your investments correctly and there are still parts with good growth prospects and reasonable prices (e.g buying properties in places like Ludwigshafen, very strong economy around in the Rhine Neckar area, approx 2000 Eur/ sqm in the city centre).

[@jmbpinto73]

It depends. If you retire and move to Portugal, you get a huge tax break.

[@emanuelriquelmemontoya3819]

@@andreasfeith2544 why someone would invest money in real estate in the middle of nowhere in germany if you can invest in capital cities in developing markets, countries with high birth rate, and everyone in the country is moving to the capital

[@ericblanc4064]

Laughing in a Canadian-tax-to-death-system

[@beebeemilo2024]

I bought a new-built apartment in Costa Blanca La Marina for €102k in 2017. I have a tourist license and it’s rented quite good through the year . It has a small mortgage but the rental income is enough to cover the mortgage and the expenses that come with letting out the place . Couple times a year for own use which means free vacation. The only cost for us are flight’s tickets , food and car. In 2019 it has been valued €145k. So I think it is quite a good investment after all.

[@ng7306]

Valuation does not equal cashflow... so many apartments for sale in Spain

[@ng7306]

@Grizzly Reaper Don’t buy, unless you don’t mind never selling your house. There’s a huge overcapacity of houses. Also much less demand from British folks because of Brexit: “Under new rules, UK passport holders won't be able to stay in the country (or anywhere else in Europe) for longer than three months out of any six-month period”.

[@ng7306]

@Grizzly Reaper Why do you want to buy? Rent a place, try it for a few months. Learn if you like living in Spain. Then you can always decide if you want to buy later. Don’t worry about losing opportunities: the factors I mentioned are structurally impacting property demand in Spain so I don’t think prices will go up anytime soon.

[@ng7306]

@Grizzly Reaper if you buy and can’t sell your house in 20 years, you also throw your money away because you are trapped in that situation (hypothetically). No I don’t live in Spain but i have good knowledge about the market and know people who live there very well.

[@ng7306]

@Grizzly Reaper Renting your property to others in Spain is also an assumption. It’s not that easy because there is a lot of supply of houses/apartments. So if you buy, you should accept you will have fixed costs per month until you paid off the mortgage after xx years. Also, accept that the price of your house may have not increased with yearly inflation. So if you buy a house now, you could end up with a house that has actually decreased in value in the future.

[@jamieopulence]

The major issue with Spain. Pro tenant - an absolute disaster if the renter decides not to pay. Spain is blessed from a lifestyle prospective but avoid as an investor.

[@jaysterling26]

It's already going that way in U.K. & it'll probably get worse as a landlord.

[@mitch5775]

You also have to pay imputed income tax in Spain, meaning if you have a house you own that you don't live in you need to pay the income tax for renting it out whether it's empty or not

[@John_Smith100]

Spain is also turning really hostile towards men to the point where guys are opting out. I know a guy in his early 20s who laughs about starting a family, and his family is in the business of building expensive houses.

[@stephenburnage7687]

Even Vancouver, Canada is like that. Tenants are viewed as victims and owners as exploiters.

[@TheRaul45]

True. Too many investors make the price of rents more expensive because now there is not so much construction of new housing

[@backpackerdeveloper_com6502]

Man, I bought a property before in Natal Brazil and Puerto Vallarta, MX. that was when I was in my mid-20s. now older i get, I feel more and more like europe is my home. See Valencia, I was there like 1 month ago. Proper city beach, public showers, walk/running path, bike path, amazing public transport, ryanair flights to anywhere in Europe, dont have to worry to be killed at night. Here in Mexico where i am now, it just feels so messy. I love walking since I'm European and omg walking in Guadalajara... you really need to be lucky not to be killed by the car, forget bike riding (apart from like core old towb), won't even mention safety. It used to seem exotic but i feel like I grew up out of it. and also think about language ~ I love Tbilisi but I wanna live somewhere where I can speak local language so spain is no brained for me. Good luck with Georgian alphabet

[@lindajones7219]

I am sorry but this is exactly the dame in many parts of the U K ,EG London Wealthy Chinese and Arabian Nations are buying up the most expensive houses in Canada also . Eg < Toronto IN UK Cornwall ,Wales ,Oxford Cambridge Shropshire . and many many more Have children, over 25 parents ,grandparents and even great grandparents all living in one dwelling . Same reason as Spain , However the main reason is governments not building enough rental properties ,actually allowing and encouraging landlord ownership for rentals . Many landlords here now feel that governments take the side of the renters every time , It appears its OK for them to wreck your home , not do a tiny amount in the garden they also have access to . and leave owing thousands and the house flat where pigs would refuse to live . Not all of course , some are amazing and one feels sorry when they leave . I rented for twenty years, if I had a good tenant after a year i would reduce their rent . send then Xmas presents ,simply to say Thank you i appreciate you keeping my property tidy . However I gave it up five years ago after 4 different sets of renters cost me far more having to clean, decorate, buy new furnishings etc , despite having excellent references from previous landlords . whom were clearly avoiding telling the truth to get rid of them . It is a minefield out there now and I am so glad to be out of the landlord business . i was a ex nurse who had to retire due to health reasons ,hence becoming a landlady to help pay the bills < not a person owning many properties .> It becomes an hell on earth and yes there are many dreadful landlords but most are fair and want there renters to be happy . But many take advantage of the governments allowing renters to do exactly what they like , leaving the landlord the pleasure of having to go to court to try to get unpaid rent , damages etc . and life becomes a misery . Good luck to any landlord now I would not ever rent out again . Time governments got together around the world and did something about the housing shortages and come up with some new ideas , especially for people less well off and young people . they deserve better ,much, much , much, much better.

[@dianasosa1301]

​@@mjmj240These places? Natal is fine though?😅

[@MostIntelligentMan]

lived in spain for 12 years, speak language fluently, when covid psychosis hit, had to get the fuck out, what a madness

[@TheN1H1LL]

Where are u now?

[@madameversiera]

I'm Italian and I agree, I'm trying to escape from Italy, even if you buy a cheap property taxes are high as hell. There is a lot of corruption and unemployment. There are no opportunities here, the only way is to escape, it is sad for me but that's the truth.

[@triplegggg8398]

Adesso però posa il fiasco dai.

[@markwawrzyniak109]

Don't worry, your goverment will replace you with migrants from far East and Africa.

[@drjobbs5597]

hi. are you in north or south italy

[@ascensionvaldes1412]

I used to love Italy and i continue doing so but even if it is so beautiful, I prefer Spain for living

[@Junkmailcrusades]

Become a freelance, work with people overseas but live in Italy

[@VanlifewithAlan]

I wanted to buy a property in Sicily. So I got a motorhome and went there to look for one. However I found that I liked living in a motorhome more than I wanted to live in the same sunny place.

[@dugbert9]

what did you think of Sicily? Good place to live?

[@josephguastella8037]

I live in Sicilia for summers and love it... History People and the Food amazing

[@GhostSal]

I thought you had to be an Italian citizen to own property in Sicily?

[@francescantonioscida9458]

@@GhostSal No, you don't need to be italian citizen

[@smithjeff1986]

Hi I have been pondering whether to send you a message as I am not sure you would be interested in what I do? Then I thought if I don’t ask I will never know.there is something that just came across my desk earlier this year its perhaps the best thing you've seen in the last six months If you've got a minute i’ll like to share the idea with you?

[@pjuliano9000]

Yeah, I’m just going to live where the weather is best, the food is great and the women are attractive ... your money doesn’t follow you to the grave .... I’m done with wealth accumulation

[@nomadcapitalist]

Well said

[@azlondon]

So did you find that magic place?

[@generalshepherd457]

Spanish and italian women are only attractive when they are very young. 18-21 years old. After that the quickly go bad.

[@giovannifoulmouth7205]

@@azlondon literally anywhere in Italy, Spain, Portugal or France

[@azlondon]

@@giovannifoulmouth7205 Don’t forget Eastern Europe - almost no 3rd worlders!

[@timspence6771]

Son, you can have 10 houses but you just get one life, sometimes it's not about the money, it's about life. Some people prefer quality to quantity, and some of the smartest people prefer a relaxed village life to the endless pressure-keg of the cities.

[@guilhermesalesferreiradaco2934]

This video is about investment not property for personal use. Besides if your goal is to enjoy life u can enjoy those 40 plus percent in income tax

[@phillobates]

@@guilhermesalesferreiradaco2934 for the wealthy in their 45% tax band, sure, move somewhere else cos its atrocious. For the middle class where the tax band difference with other countries may be around 5%-8% I then choose quality, happiness, honest-friendly, safe life country as Spain is. I then choose interconnected cities, advanced open minded people as cocitizens. If in order to save a 5%-8% I need to live in a 2nd or 3rd world country where I'll be waking up every morning cursing the shthole I'm in, then no thank you.

[@phillobates]

By the way, even a notorious amount of wealthies choose Spain to live and/or invest in coastal mansions, just look at our costas. I wonder why.

[@AliDaoudi]

10 houses paying you rent, you don't have to waste 8 hours a day at work, more life

[@3onthebeach]

Everything you've mentioned is true EXCEPT if you're looking for a cheap, high quality retirement. If you're not earning any money in Italy (as an example) you're not paying those insane EU taxes. If it's your first home in Italy, zero property taxes as well. I'd rather retire in Italy (again, example) than Armenia, any day.

[@heikorudi6105]

you pay taxes on your retirement in EU buddy boyo

[@JanosFeher]

@@heikorudi6105 he meant the temporary incentives in Italy that lasts for 5 years.

[@Nomad_783]

@@heikorudi6105 buddy boyo must of us retire in their 40s not on a never happening "goverment retirement". Yes you tax on your incomes whatever it is but that`s it. Point valid...

[@spamhoover9994]

Im EU citizen, own properties both in Armenia and Italy so I can compare : I would never consider Italy for retirement based on purely financial reasons. Even if you are looking for a cheap and quality retirement, Armenia is better, cheaper and safer. Those "one-stop shop" allowed me to register my cie, get a bank account and be able to start working in 72 hours. It took me 24 hours to buy a land and have it registered in my name, 3 weeks to get a building permit. Pay 100$ to a specialised Cie, and they ll drive you through this flawlessly. You just sign and pay. With the money I make, I would be considered upper middle class everywhere in western EU, in Armenia I live like a king and can consider retirement at 40, I have a 'luxurious' lifestyle I would not get in Italy, also booming real estate (3x in 5 years) helped. I can afford to go out everyday, have access to excellent food culture and rather rich cultural life. Both are important to me. I meet very diverse persons, because of their huge diaspora the capital is very international. I have access to a very descent health system because I can afford private and my health insurance is ridiculously cheap. My dentist is French, my osteopath is American, my pizzaiollo is Italian, my masseuse is Thai and my yoga teacher is Indian. The last two come home 2 times a week for a mere 30$. I get all my shopping, groceries etc delivered at home few hours after I ordered them for 1.5$. My cleaning lady comes home 2 times for a total of 5 hours a week. I have a car but I dont bother much with it: taxis cost a few $ so its like having a personal chauffeur. My local ski trips costs 600$ per week all included in a 4* for 2. I can travel easily because I actually save much more than if I was living in Italy even if I significantly downgrade my lifestyle there. Ciao the masseuse, the taxis, the cleaning lady and so on. And the ski holidays in the Dolomites would cost me at least 6x more, and not in a 4*. I know, ive tried. In Armenia, habitation tax is 200$+ per year for higher segment of the market. Its change money. I dont get taxed on the sales profit I can make from it, and dont get taxed on the passive income either, and there is NO INHERITANCE TAX. For a retiree, this is a major plus. In Italy, you and I would pay all this, and even more, for a lot of $. But what I came to appreciate a lot in Armenia is that petty criminality is almost inexistant or so rare that its statistically irrelevant. Sit on a terrace, live your 1000$ phone, your laptop and your bag on the table, and go to the loo..... dont try this in Italy. When Im going back in Italy, or France, I have to mentally tell myself "this is not Armenia anymore, be careful". I never realised it before living in Armenia, but it takes a toll, insidious but real. In South Italy, beaches are beautiful, much less crowded than the rest of the Med coast, and some little seafood coastal restaurants are amazing.... but thats almost all I get around my estate. I have one property in Campania for family reasons, got it cheap and well maintained panoramic sea-view apartment in a house, tropical garden and 800 meters from a nice beach. I initially thought it was a bargain. Took me almost 4 months and several trips to get it done through a lawyer. But it can be longer. Renting the place proved to be quite difficult despite its a touristic region, Italians themselves cannot afford anymore to travel in their own country, . Foreigners generally focus on more touristic place like Amalfi. Once I pay the taxes on it (because you will be charged as an Italian for every cent you are making there), and the lawyer in charge of it, the profit doesn't worth the trouble and wouldn't cover a fraction of the opportunity cost. Btw, in Italy, they may tax your IRA and 401k. Things aren't as straightforward as advertised. You better check beforehand your personal situation with a pro.

[@iwonastas1346]

Totally agree with you Andres. I live in Spain and bureaucratcy is a nightmare, heavy regulations and politically unstable.

[@argelast]

We need a new agreement whithing parties, people is telling this every time we vote, please f... politicians forget the votes and begin to work together. They continue fighting... wtf?

[@iwonastas1346]

Yes, indeed, wtf....this lockdown situation will give the politicians more excuses and power to mess things up further. I don't believe these politicians are capable of working together as they are have their own agendas, only doing what is in their best interest Giddy up, things will only get worse.

[@luistpuig]

Then stop electing leftists!! Think! Simple!!

[@frannelk]

@@iwonastas1346 These politicians in Spain are shit.. And beside that they turned out to be communist, very scary shit in here.

[@frannelk]

@@luistpuig well said brother 👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻👏🏻

[@Garcwyn]

Spain/Italy vs Georgia… ffs! You can’t give a monetary value to everything in life. Potential growth and discounted cashflows have nothing to do with enjoyment and quality of life. You are missing the whole point

[@mecachislamar]

If you are a retired couple from northern Europe, an apartment in Spain and living there from age 60 to 80 is a no brainer. Looking at Spain for real state investment (buying to rent) is too much aggravation for the return.

[@naillijseer]

One thing :Inheritance tax 😱

[@mecachislamar]

@@naillijseer Not relevant. You sell before moving out and coming back home to die. You use the property for the golden years.

[@Paybloy]

Two decades ago, Venezuelans used to say "this is not Cuba", so they tried again the same criminal system that has brought misery and death to every single communist country in the world in the last century. Now in Spain, many people still say "this is not Venezuela". And they're right. We are not one of the richest countries of our continent. We have a goverment of idiots no one would hire to hold a sign. Half of the country hates their own flag, anthem, king, culture, democratic system and even the name of Spain. Some regions have been helped to promote separatism, breaking every law and the Constitution, or using terrorism for years. The goverment is focused in bringing back a civil war that no one understood, using millennials to spread hate against "fascists", and recently fascists include part of the former socialist goverment of the eighties. Unemployment is always above 20%, now 36% and going up, nobody feels the need to work when they get a salary for doing nothing, so we need immigrants. Paying rents or mortgages is for idiots, the laws protect defaulters and the government directly promotes stealing empty houses, once the invaders are there, they have more rights than the owner and will stay for at least two years. We don't have any oil but had tourism, until the bug and the lockdown helped the government to take total control and punish the regions that don't support them. Since they prefer to have thankful public employees and fearful unemployees, they won't take any action to overcome this crisis, it's been a gift for them, and they know how to use it to remain in power. Spain is not Venezuela, we'll need just two years to be worse than them. But hey, please, invest some of your money here, we'll only take half of it with taxes and bureaucracy.

[@nomadcapitalist]

Interesting insights; thank you for sharing.

[@toutlemonde5008]

It's the most honest characteristics of Spain I have ever heard in my life! How incredible, so true, true!!

[@adi-kr6sh]

It depends of which areas you will invest in spain, you need to check undervalued in near prime areas with a regional healthy macroeconomy with price and yield growth, i bought 4 houses in Lanzarote (canary island), best investment made so far; right now i spot a great opportunity near a new shopping mall they are currently building, this entire place will increase in price, and the best thing is that this place is super cheap now

[@ElectricityTaster]

Never underestimate climate change.

[@johannesaigner8501]

Clima change... What a joke...Just jealous that they are unable to make good investments

[@tonyheper]

I disagree with you that Europe’s best days have passed. I believe Europe is a great place to invest because it is comparatively stable politically and financially with predictable growth. European culture enhances the lifestyle. EU governance provides for relatively predictable future planning with predictable Monetary and Fiscal policy. By comparison, some peripheral countries close to Europe appear unstable with high risk economic policies.

[@tattianasalles3019]

There are two very different things here: one is taxation, the other is the business environment. Not only Spain or Italy, but all Western Europe will always be taxed higher than the United States because of their social welfare systems. Look at Spain's public health system. Compare with the american reality regarding health services ... However, there is the business environment. The rules of the game, bureaucracy, the eventual need for licenses or permits ... that's another problem. Mediterranean countries have worse business environments than their nordic neighbors.

[@dfveiga9]

Tattiana Salles so do business in Northern Europe with an US based company

[@emanuelriquelmemontoya3819]

spain and italy are third world countries that try to live like they are norway, that's why they are pretty fucked up there, second every time people make ranking about health care have biases are white middle age people from western Europe, if you look at the same rank but written by some middle age people from south korea, they are gonna say that south korea is the best country in the world but we've seen many times that the economies of south europe are pathetic and their health care have holes, and if you care about weather there are plenty of beautiful countries with mediterranean weather that are not brand names yet

[@MrMaximino92]

@@emanuelriquelmemontoya3819 what a fucked up comment from a fucked up person.

[@Nomad_783]

oh boy know nothing. Higher taxes? Yes on VAT and income tax. There is no higher taxes on real estate actually the opposite. property Taxes are way lower in europe than in the us. Some countries property tax is actually 0. yes you can own 5 properties and pay no taxes at all as long as you dont have an income like airbnb, or rent. That is the only thing taxable. go figure

[@karthikarvindcs]

So, Western European governments have done a great job by keeping such "investors" out..Spain is not a high pay nation, Spanish people need affordable housing , which is more important than being a "investment" destination for some American.

[@claudeleto5444]

Andrew, I'm a Spaniard. I found what you said so sad; unfortunately so accurate. My great grandmother's childhood home is older than the USA, 438 years old. In some sections the walls are well over a foot. Many things had to be updated, such as adding bathrooms inside the house, plumbing and electric and so many things. But trying to sell such property for a fair price, according to my mother, it is a joke.

[@itsastckup]

I’d love to see a 438 year old home

[@joaquincimas500]

@@itsastckup You will see a country side town house that have change a freaking lot in 438 years. My grandmother home is 200 years old and you will probably not think like that if you see it. Greetings from Spain.

[@stargazer5822]

This is nonsense. Whoever thinks about buying property to profit from it in Spain since the housing crisis? Everyone knows that Spain is the holiday resort of Europe. Anyone that buys property in Spain is to have a holiday home, which is completely reasonable. Now, Spain is a very broad term. He doesn’t mention property in Malaga or the Canary/Balearic islands where housing definitely was profitable until the pandemic. You could make a lot from it if the pandemic goes one or a few more years since the houses are overpriced over there and the tourism sector will be hit the hardest.

[@hthought]

Yeah, I'd love to buy a holiday home in Marbella, but hell no I wouldn't buy an investment home there, haven't gone crazy yet.

[@heikorudi6105]

@@hthought lol. yet bro, YET

[@Alan-wh6gh]

I lived in Valencia and I have to say he is right , Spain is un very difficult moments right now and the future is dark.

[@e.h.1843]

Do you want to talk about italy? I have 2 restaurants in Venice. Had to lay off 13 people and cash flow is 15% of what it used to be before corona( I can't even pay the bills to keep the business open) , with no tourism. Not counting that we will soon reach 50% unemployment because of our shit government. Planning to sell everything and leave the country as soon as this situation calms down a bit. Italy and Spain are great places to live only if you are retired

[@revillanevado3246]

puto sanchez, todo el dia liándola.

[@davidnour6963]

I agree. I had 2 properties in Valencia, and experienced extremely onerous taxation, very slow and negligent bureaucracy and considerable corruption. Prices are relatively low, but ROI not so good and plenty of aggravation.

[@Carolinapetroska]

You are right. My friend bought a property in Italy, unfinished. It took them 5 years to complete, a lawsuit against the contractors and many arguments between husband and wife ! Confusion : a real nightmare. Laws are not clear, rules and regulations neither. Also, even though, it's closed to the border with France, there is no store in walking distance. Need a car for everything. There is basically nothing around except other houses. I would never do that. You are right. Their best days are over for those countries. They don't want to change and embrace progress so they stay behind.

[@bakerdow9884]

What does one expect from the origin of the famous crime families, they have their tentacles in the state there😅

[@rikuk3]

Spain is a buyers market with hundreds of thousads of empty home so its very easy to buy a great property there so long as you remember its a buyers market. Don't buy and hope to flip it for profit, don't buy it to rent out (lots of new rules on that) so only buy as a holiday/vacation/retirement home and life there is good.

[@raisingbarssince1978]

I own 6 apartments in Valencia, it's a thriving city with loads of opportunities, one of the most unique cities in Spain and Europe, you just have to know where to buy.

[@GreenOval_Adventurers]

I lived in Valencia! How did you find the buying process in VLC? was it a good return on investment and what areas of the city did you buy in? Just wondering :)

[@raisingbarssince1978]

@@GreenOval_Adventurers Hi Stephen! Actually I thought it to be quite easy, but you do need a good Asesoria/Gestor, which over the Internet is not hard to find anymore. With Valencia beeing a booming city, maybe you have heard this already, but its being called the little sister of Barcelona, the return has been excellent so far, I rent out to students and long-term, no need for AirBnB although I have friends who do that. Before I invested I lived here for 3 years, and I know the town very well, Ruzafa has been an area which has been booming especially over the last 10 years and now with the development that is going on at the marina (startups, tech, students, nightlife) I can see a lot of opportunity there.

[@ag.3820]

Hi @@raisingbarssince1978 , that's good to hear! I currently live in with my wife but we are looking to buy property in Valencia and move there. I've been studying the market a lot and I'm curious what do you think about the new development area of tower buildings that is part of Quatre Carreres bordering Nazareth (which I heard is a bad neighbourhood) and Poblats Maritims? What about Quatre Carreres in general?

[@Davidman3976]

Valencia will take a lot of Barcelona´s cake because of the retarded independentist government in Catalonia. They want to be an independent country so bad that they don't care about what they destroy in their way. They lost a lot of credibility and trust internationally and locally. Tourism, investment, safety, political stability, economy, everything going down the sink... and straight to Valencia.

[@borninsoho9710]

David L. valencia will never be barcelona.... architecture, mentality, business opportunities, tourism sector.... looong way.

[@jonmould2946]

My family bought an apartment in southern Spain in the year 2000 for 67,000euros with sea views private entrance and good design. The mortgage is almost paid off and the property is now worth 320,000. The property is rented out for 600pcm however it could rent for 1200. Not sure if i would get that return if I invested now and I don't like earthquake areas!

[@jonmould2946]

@social I'm not Spanish maybe the rules are different for foreign buyers. I don't manage the property however I believe it's rented for 12 months of the year.

[@andersbrixserup7718]

@social you definitely haven't done your studies. You can still get good deals in Spain for 67k. Let me guess, you don't live in Spain?

[@andersbrixserup7718]

@@dollarbill5471 I cannot see why Spain would stop being attractive for tourism purposes. So the premise you placed is incorrect. IF tourism interest dropped, then yes, the bubble would burst. Problem is: that is not going to happen. In fact, Spain has a prognosis of having an 8% increase in tourism over the next five years. Once covid worries are over that upwarding trend will continue.

[@AdamSahr-cj4kf]

How much will the same property be valued at after the CV pandemic has run its course?

[@phillobates]

@@andersbrixserup7718 agree. Both number of tourists and foreign real estate buyers have recovered pre-pandemic levels and reaching their all time highs. Spain is so diverse country (a true continent within a country) that will always have room for every taste.

[@JB-xh1gi]

I am from Spain and i can tell you we are moving in the wrong direction and we have in front of us a dark future

[@globaleye8]

Get out of the EU and sack Sanchez !

[@supermonk3y07]

I'd say go move to Mexico. I'm Mexican. It's a developing country. Yeah sure it's cheaper than Spain, it's an emerging nation though and yeah it's not the US, UK, Canada, Germany, Japan etc. But it's not that poor either. Also low unemployment rates. Crappy and low salaries but the cost of living may be cheap for someone from Western Europe. Not to mention maybe easier for you to make a buck and have your own source of income. Try México City. Why Mexico and not Asian countries like Phillippines, China, India, Vietnam, Indonesia etc. 1. You know Spanish and you know the language. If this is very important for you and to be able to assimilate to the culture, choose Mexico. 2. I'm Mexican, you're Spanish we bith speak Spanish. Although Mexico's growth has been rather sluggish, It's not too far from being a developed country. I been to Turkey and both Turkey and Mexico are pretty similar in terms of development.

[@gustavo_fernandez227]

@@supermonk3y07 Do you ever hear about machete slaughtering in Mexico ? I wouldnt go there.

[@JB-xh1gi]

@@gustavo_fernandez227 Mexico is a country where if you search for problems you wll find like everywhere

[@JB-xh1gi]

@@supermonk3y07 porque estamos hablando en ingles???😁

[@igorbahillodiaz]

In Spain the occupation of "non-main dwellings" is legal, you cannot cut off the supply of electricity and water to the Occupants. There is no legal certainty for an owner. It is better to throw money away than to invest it in Spain. I know people who have got their secondary house occupied. And I'm Spanish.

[@anselmo4952]

I am a Spaniard who lives in Valencia (Viveros- Benimaclet) and I agree with your magnificent analysis.

[@anselmo4952]

@Ulises Fernandez From the city of Valencia ?

[@anselmo4952]

@Grizzly Reaper To avoid excessive crowding. May be ?

[@JDVG601]

I totally agree. I lived in the south of Spain for 2.5 years and had expected to stay longer (that´s another story). 1. We planned to buy, but after renting and looking at houses for sale, we could not find anything we liked enough or found properly priced. Where we were there were tons of houses for sale and few wanted to reduce prices much as they bought in the boom for more than that. 2. Not a nice distribution. Typically Spanish houses have small rooms. Often many but the Spanish seem to love to be in small rooms. And preferably small windows too. Oh my god if some sun and light would come in and warm up in the cold winter.... (¡que calor!). Also we saw quite a lot of houses with a downstairs ceiling of 2.00 or 2.10 m height. What could have been a lovely room! Creative architects that love to save some money.... 3. Cold floors. It DOES get cold in winter where we were and half of the year you need shoes inside because of stone floors that are lovely in July and August and fine in Spring and autumn but terribly cold at least 4 months of the year. I´d prefer a wooden floor. 4. Poorly isolated and without central heating. Many have only a fireplace and stand alone heaters. So that is something to invest in if you like to be nicely warm in the whole winter. 5. Costs of buying a EUR 200,000 house: First the government taxes 10%, that´s EUR 20,000 gone. Then the real estate agent another 6% or so, another EUR 14,000 gone. And that is before the remodeling you definitely want to do! 6. Legal uncertainty. It is really a mess in Spain. You buy a house with all the papers and it all seems fine. You have it checked by a lawyer. Then comes the municipality and fines you EUR 14,000 because your permit for a part of the house or the pool was not in order. Story of a friend and I know many similar stories of other friends and acquaintances. Rules, laws and regulations are so fuzzy in Spain that if you ask two different lawyers, they will both tell you something different. A nightmare. 7. Taxes. Yes you pay quite some taxes on your property and Spain has the most unreasonable government I have ever experienced when it comes to taxes. They tax you on the kind of money ´you could be making if you have renters´, they check electricity bills to see if a house is rented and go after the renters if something is off. And also, if you´d ever make a mistake on filing your taxes they fine you high fines. It is so bad that the EU has And yes, overall bureaucracy is a nightmare (if you come from northern Europe). The country is very unfriendly to businesses. It is no surprise unemployment is high. I used to have my own one-business (on the computer) and that alone costs you EUR 360 a month to be paid to the government and to your compulsory accountant. That´s before you made a cent. The climate and nature is lovely and our quality of life was great, and I am sure there will continue to be people retiring in Spain, but with the millions of houses they built in the boom....we were very worried if we would ever be able to sell our house for the same price if we would decide to buy. (And that was before the incredibly incompentent government ruined the economy with the Covid-19 lockdowns that locked down the whole economy for two months including in areas with no or very very few cases.) Renting though, while hard to find, was very good value!

[@Seathal]

I am a spaniard looking to get out of the rent pit and into my first living propierty. I want a house, I want to have a certain amount of land (1000sqm) to enjoy not being clustered together with dozens of families like I'm now and have dogs the way they're meant to be had. Been looking at buying second hand properties and the market is a hot mess. Thousands upon thousands of shitty houses with the problems you mentioned (bad design, bad isolation, bad materials, bad orientation, shitty land, bad location...) at exorbitant prices (200 to 270k) then you have to add taxes and remodelation on top. They don't sell any. Because people don't even have the upfront money to even consider buying and when they do they buy a flat in the city most of the times because most jobs are tied to big urban touristic areas. A lot of lower class people got scammed the fuck out of their savings by buying these big-yet-crumbling and terribly designed vacation houses that are not worth a dime. So the price range between 200 to 300 (what most middle class people would look at) are filled with a horde of bad quality housing. It's a landmine field. If you have more income and can afford houses over 300 or even 400k you start seeing fantastically built and well-maintained houses. But their prices are still inflated by this lower-tier bubble bringing the prices up artificially. They sell them at that high of a price because they built/bought their homes at the economical boom and a lot of half-arsed architects and constructors made very stupid design decisions all-together, prioritizing having a lot of rooms and a lot of square meters instead of a smart design and proper insulation. They got scammed back in the day so now they think their properties are worth that much when they are maybe worth 60-70% of what they ask tops. So we've decided to build or own. Comparatively speaking land isn't that expensive if you know where to look and today you have a lot of great modular designers that make properly built houses with new materials (mostly steel and wood, yes wood is a new material to a brick and concrete-centric traditional way of construction here). You end up paying the same, but having a house worth much more in market value than the shit second hand ones.

[@glassbuddha]

You are right. Spain is only for vacation visit. Never do business with them.

[@carmenbello111]

That’s pretty accurate. I’m spanish and the government here are not business/real estate friendly. They are mad at people capitalizing stuff they think shouldn’t be. It’s a communist mentality it’s engraved since the 70’s and it’s not changing anytime soon.

[@juankikin2384]

I live in Marbella and its the BEST place to live in the world... Enjoy your rainy shit England

[@juankikin2384]

@@glassbuddha where are you from? Because i've grown Up in Spain and traveled a lot in Life and i can asure you Life in Spain is better than any other place in the world

[@matollsen2523]

Well said. I have a friend, he bought a small property in Bulgaria, near coast city of Burgas. The property is not on the coast, as they became expensive. But he did not intend to invest. He just enjoys living there. Climate is good, he plants his own plants. Just a lifestyle. As a investment-no.

[@bakerdow9884]

A wise guy who sees beyond the matrix 😎

[@AArco-vc1jj]

Couldn't agree more. I've lived in Spain for the past 2 years (Andalucia) and note the following: - Very burdensome red tape for almost everything - High rental tax on both residential and commercial properties. - Close to no recourse to evict tenant (takes around 1 year to get to court after you've filed all the papers) - Extremely tight AirBnb regulation. Came in to effect feb 2019. - High social security mandatory payments (starts at 300€/month) - High inheritance tax - Cheaper lifestyle than the rest of Northen Europe, yes but there is better. - Incredibly high youth unemployment You can get so much better return on your investments by just going to KL Malaysia or even Istanbul Turkey. Europe's haydays are over.

[@AdamSahr-cj4kf]

KL? Not after 2012. Home prices have appreciated a lot and haven't dropped at all despite a huge glut; the reason being, the minimum purchase price for foreigners going from MYR 250K to 500K and then to 2,000K. It has been reset recently to 600K until December 2020 to try to clear some of the so-called upmarket property but the Corona virus pandemic has all but destroyed that initiative and the market. The reason the minimum purchase price was hiked in the hope of calming down the locals who found themselves completely out of the market by preventing overseas Chinese from sweeping all good, cheap property and causing a rapid increase in prices in the most popular bracket but too little, too late !!!

[@nmejias370]

Welcome to a pro-socialism paradise!

[@AArco-vc1jj]

@@nmejias370 It's not pro-socialist, it is socialism. The state government has been PSOE (Spain Socialist Party) a good chunk since the return of democracy in 1975. Andalucia, the poorest region has always been red, ie: Socialist and often in alliance with communisty party, now Podemos party

[@David-ju9lq]

Folks, pay attention to what this person is saying (Arcoserv). I dont know about KL/Turk, but regards Spain he is 100% correct. Only add-on i mentioned earlier is taxes and closing costs for R.E. If you find a bargain, dont expect to be "billed" as such, you WILL pay a premium

[@LadyIarConnacht]

Thanks to the destructive policies of the EU and the UN - always trying to reshuffle the world to promote "equity" and destroying everything they touch.

[@Cubanbearnyc]

He makes some valid points, but for someone who enjoys European culture, why go to Asia? or even Armenia.....? Italy is a museum-country, everywhere you look you find Art..... and music..... Madrid is one of the greatest European cities, with a great vibe, strong arts scene, and good transportation, I cannot put a price to be able to go to Opera Garnier, or concerts at Sainte Chapelle in Paris if I"m living there.... it jus comes down to priorities.....

[@nomadcapitalist]

So visit those countries, don't invest in them.

[@Cubanbearnyc]

@@nomadcapitalist Western European countries are the ones that interest me, because of their rich culture, I wouldn't want to own a property in Vietnam, nothing against it, just not interested, I will certainly and gladly... own a property in Paris..... or Madrid......

[@bitcoinbrokers9607]

Spain and Italy have a great "lifestyle" if you work purely on Internet. This is the perfect place to be, to enjoy life and work. I invented "Enjoyrking" You will find everything cheaper, you will have a healthy lifestyle and your will belong to the EU. I'm not a real estate investor. I'm a stock investor and I would chose Spain over everything for living (Italy is pretty tough) you see man. Here you have a potential rich mf client that knows what he wants and know what he talking about because he lived in both. Takes this in consideration. Free Financial Advice

[@joaquincimas500]

Spain have a lot of future with that. Even the gouverment knows that, they are trying to put optic fiber in all the towns in Spain (no matter how small they are) At least this can have a little bost to the spanish economy in the future.

[@emanuelriquelmemontoya3819]

people with active business are fucked in those countries also everything down there is closed the weekends in my opinion their is no lifestyle there, quite the opposite of a place like moscow which i don't understand why is so underrated.

[@irinau7233]

@@emanuelriquelmemontoya3819 this comment didn't age well :)

[@Scolopente]

With the focus on remote working in recent times, is it not possible that we will see a move away from the big cities into cheaper residences? After all after all there is little reason to be in a big city and pay inflated pricees if your work is no longer dependent on proximity.

[@peet1250]

I think we are already seeing a more even spread between values in city centres and suburbs, for this reason. The pandemic will only increase the trend. Why live in a high rise if you can work from home on your own free standing property on the suburbs?

[@ElectricityTaster]

remote working is hell

[@mcarthurspark8636]

@@ElectricityTaster How?

[@ElectricityTaster]

@@mcarthurspark8636 because we are social animals. If not at work, where do you expect me to meet friends?

[@birakbe]

@@ElectricityTaster that's also true

[@abelardlindsey7579]

Sometimes cheap land is cheap for a reason.

[@stephennelmes2707]

Yes, look at rural West Ireland.

[@theresanolan1157]

@@stephennelmes2707 Although if you were from Connemara during the tiger years.....everyone a millionaire........

[@dariusk8769]

I changed desicion move to Spain, choosed Georgia coz 0 taxes for incomes from outside, Spain....social- komunist government on a side benefits ppl, ocupas, very high buorocracy , last year changed to bad side if you have properties and renting for someone ( rent price regulations), you must keep eye on a income and outcome coz government institutions can check

[@MultiSgar]

Spain now reserves its right to confiscate your assets whenever they feel like it. They just modified the "national security law". Leaving that country was the best decision of my life, by far.

[@VincentCapuano-x4v]

Where’d you flee to

[@marie-joelleraussou]

interesting, they changed the law in that direction in Germany too. You will own nothing and you will be happy!

[@v-22]

The biggest issue I see is the one you mentioned, insane pro-tenant laws. Rent contracts in Italy are a minimum of 4-years with the option for the tenant to renew for another 4-years, so, in fact, 8-years. Imagine having to endure 8-yrs of having an awful tenant that doesn't pay rent as he/she is supposed to and being unable to do anything about it... Hell on earth, I say.

[@v-22]

@@rodiculous9464 pretty sure that's against the law

[@SpainSpain-kr8lh]

If you have a lot of money and/or a reliable source of income Spain isn't necessarily a bad bet. However, if you need to work here - forget it. Wages and working conditions are awful - and set to get far worse.

[@robertoperez7395]

If housing is just a piece of merchandise to make money from, then ok. Housing is a basic necessity in life. This mentality of looking at it as a commodity is pushing prices up and keeping a lot of people out of buying a house, hence government intervenes to out the vultures. Because fast chains, Mcdonalds, as was mentioned ,is opening up in some countries, does not mean they are going in the right direction, bad food, low wages, etc.These types of "investors: add at least 40-50% on prices, not needed

[@dubnationx86i]

The fact that housing is a basic need doesn't mean you can't make money out of it. I mean food is a more basic need yet people make a living out of it and some become rich through food industry. I agree that price have to be wisely managed but you also need to keep business going

[@danimaster6647]

@@dubnationx86i The fact some people make money out of it means others are loosing. Investors buy properties in mass scale means they can dictate the prises and people have to keep up with those prises since there isn't enough places around. Also at some point it becomes a problem for a country if there is a large enough amount of places being owned by foreign citizens. That's why there is heavy regulations and taxing in first world countries. 3rd world countries however are happy for any amount of money they can gaver and are looking for foreign investment.

[@dubnationx86i]

@@danimaster6647 Yeah obviously very big actors are unhealthy for any market. But it's unlikely that one or two actor count for a big change in the housing market, rather the biggest influencer of prices is the economic climate. Lower interest rate ? Housing demande increase and price prices aswell and so on. investor at the end of the day aren't the biggest influencer of the housing market I think

[@danimaster6647]

@@dubnationx86i Of course one or two actors aren't a problem. However lets say Valencia becomes really investment friendly. Lots of people are dreaming about owning a property in Spain and now thousands of rich Chinese buy apartments in the city center. Suddenly there is high interest and competition creates higher prices. Citizens are then unable to afford the living and have to move to suburbs. This is why places in 3rd world countries are that cheap: They are desperate for foreign investment and don't care for their independence as long as money is coming. A country like Spain however wants to have control over its cities and thus creates a difficult environment

[@BigTwitchy]

Dani Master This exact thing happened in New Zealand, and now the average home costs well over 1.2 million NZD. The average family income is around 100k before taxes. So after taxes, the average family would take 20 years to pay off an average home if they spent not one single cent on anything other than the mortgage. No food, electricity, health care etc. Just mortgage repayments. And that would be at 0% interest. Now tell me again how rampant „investment property“ practices aren’t a problem?

[@genzod7940]

Main reason to do not buy a property in Spain is squatters. If someone gets into your property when you are not there...you are literally screwed for good. Squatters got more rights than property owners. Forget about it. Also, service, food and in general everything else is not what it used to be and it´s not cheap as it was when the peseta local currency was present. The weather is nice? well, depends where and when, and also depends what you call nice, like anywhere else, the idea that you gonna go swim in winter is a fairy tale unless you are in the Canary Islands, west Africa area. If you have to wait for the summer to enjoy the beach...in summer you can swim anywhere mostly, even in Switzerland´s lakes. If you are going to buy a property mostly because of the weather and beaches...then chose a country that offers this pattern all year round, not only 2-3 months a year, you´ll enjoy it a lot more and be able to use it at any time during the full year or rent it back to make some cash. At the end of the day, you don´t even need to buy a property, just rent it when you need it and you can keep changing location when you like, buying a property is a lot of money and you never know where the real estate market may end tomorrow. Use your money for different investments. Personally, I would look to SEA, places like Thailand, Philippines, Bali and others, where you really get a good weather, good food and meals for like 2 euros, real breathtaking beaches and pristine waters, and nice villas for rent for real cheap. Go where you money is worth 10 times what´s worth in your country and you´ll be treated like a king. There are few financing companies out there offering like 8% earnings - High-Yield Savings on your EURO deposits, compounding interest paid out daily and you can withdraw your assets at any time without any penalties. It´s like a Passive Income, let´s say you deposit 200.000 at 8% = $17.600 a year = $1.466 a month without spending your capital. With $1460 a month in SEA you can live decently, get a decent place to live for like $500 a month, let´s say around $350 a month for your healthcare (if needed), and the rest is for you to enjoy yourself... Why would you buy a house as a second residency for? Are you a millionaire? Buying a house is like enslaving yourself for the next 30 years. We only live once and that house is going nowhere once you are gone for good.

[@carlyblankevoort3856]

Great comment and ideas. I love a home base but you are correct, cheaper to rent with no upkeep issues.

[@genzod7940]

@@carlyblankevoort3856 Also, try to chose a country that is not gonna tax you in your capital gains in any of your investments or your pension, Spain is gonna tax you for any income you have even if it is from overseas, Spain has also one of the most expensive electric bills in all Europe, food in Spain is not what it used to be neither including fish and meat, most of the veggies and fruits are GMO and tasteless. Also, keep in mind that Spain is in a very bad economical shape, it has a huge debt and the government is rising taxes on everything, they even invent new taxes from thin air, like the SUN tax etc....Pathetic. If you want to stay in Europe and have a decent weather you should take a look at Portugal, Portugal has allowed expats to pay no Portuguese tax on their foreign income for 10 years if they qualified for "non-habitual residence" (NHR) status and live in the country for at least six months a year. This means no tax on pensions, dividends, rental income and employment income. And if you invest in Cryptos....it´s paradise since there is no tax on Crypto trading and capital gain. Do your home work before moving seriously.

[@carlyblankevoort3856]

@@genzod7940 thanks Gen, your info is very helpful. Personally, I waslooking to Italy since I have an Italian passport thanks to my father. The whole world if politicians is inventing taxes. Someone has to pay for their bleeding heart immigrant ideologies.

[@carlyblankevoort3856]

@Tret Erter tell me more!

[@LucianoClassicalGuitar]

Haha, dude, I live in Valencia! Almost flipped over my chair when you said those words. Great place for a holiday, and so on. But the apartments in Valencia have terrible insulation, the architecture is a JOKE. The architects do not know how to distribute space. They break so many rules and codes, it's kind of sad. Apartments are always catching fire here and the risk is too much. There are good places and bad places of course, but even during the winter it's kind of cold here and you can't do much. Better to stay here from June to August by paying rent only.

[@KeepingItRealBro]

Do you think, it's better in SEA, Colombia or Georgia... oh well, it's never about the construction, which is totally irrelevant, but the ROI. Greetings from the CDS.

[@Lord_Saruman]

from June to August? they'd have to pay me to be in Valencia those months, the heat is unbearable -

[@LucianoClassicalGuitar]

@@Lord_Saruman That's true as well. But during October to April it's not even warm and so humid that even 20 degrees feels cold.

[@andymerkel6955]

"always catching fire" ouch!! figuratively AND literally!!

[@andersbrixserup7718]

And yet, airbnb demand is huge in Valencia. And the periods of the year that you consider high season are many. Amounts to almost half the year. 4 months of Summer. Christmas. Fallas. Easter. Also, having lived a long time in Valencia I still haven't seen one apartment catch fire yet. PS: Insulation you can help control yourself as an owner.

[@evitabgp]

Sadly (I'm from Spain) I couldn't agree more. I just moved to US to find new opportunities.

[@MrMaximino92]

Enjoy your new tomb.

[@jackbrown9339]

@@MrMaximino92 lo very true instead of tomb its an empty grave slow being covered with earth

[@RossBayCult]

Not a good move.

[@anthonyparker9795]

Spain for life style = OK .. Invest = No ., Properties are already being discounted 10 to 20 %, before the serious slide begins .,

[@hangxiaohuz748]

Jim Hunt, I was recently in Southern Spain for the first time in 50 years,. I stayed in my brothers apartment on a golf course on the coast. Spain was beautiful and clean. Quite perfect really. I felt pleased for him having such a place to be.

[@ijaen]

Jim Hunt I wish I could stay in Barcelona forever, easily my favorite city in the whole world (been in 40+ cities) but the reality is that my residency took a year to complete, unemployment was crazy before and after covid19 it will reach war-time figures. Salaries are very low across most industries and there is no light at the end of the tunnel given the recent government change. Spain has amazing weather, amazing people, even the most basic food is delicious and most cities are well thought and maintained. Even its history is beautiful, makes me sad that I left my home country running away from Socialism, spent a few years in Panama doing “ok” and wanted to live in Spain for so long but the reality is that we had to take our life to the UK. Spain and its people will always deserve a bit of my heart.

[@argelast]

@@ijaen Amen, Spain has a big potential, if we change a little beat we could be the California and the Florida of the Europe.

[@MarioGaricTravel]

Reading all these comments got me like, damn, Spain was a force to be reckoned with when I was a kid. Now I am looking at a job offer and potentially relocating to the North of Spain. Engineering in the IT sector. Basically, if you're in an international company and stable field, Spain seems like the logical choice. Looking at "cheap" property there it does seem ugly so to speak, but can't say for sure.

[@emanuelriquelmemontoya3819]

@@argelast they are the are not the miami of europe, but the cuba of europe

[@benjacobs2560]

A lot of E.U. countries are changing their tax system to attract wealthy people to move there. It varies from country to country but basically they put a cap on the taxes you pay for income generated outside the country. I believe the cap in Italy is €100,000. So any money you earn over €100,000 outside of Italy is not taxed. Portugal was the first country to do this and a lot of rich people moved there as a result and so other countries are following suit. All income made inside Italy is going to be taxed heavily but it obviously comes with serious benefits like healthcare, practically free universities, and a legal system that actually works. Let’s say you have a legal problem in a non-E.U. country and you’re a foreigner that doesn’t speak the language....sounds like a nightmare if you ask me.

[@jeffb.140]

There is no cap in Portugal

[@JanosFeher]

The tax limit is €100K for 5 years. So you need to earn a above €1M per year foreign income to trigger this limit. And only for 5 years.

[@benjacobs2560]

@@JanosFeher Ahhh, I stand corrected. Thanks

[@jwa7241]

Meanwhile Spain has wealth and solidarity tax on worldwide assets (not income).

[@returo7297]

theres 1$ prop in US too especially in Detroit

[@carloslaend1635]

Seems to me you forget to factor in the apples to apples risk. Which is paramount. Georgia future isnt specialy clear with Russia recovering its geostrategic importance and Cambodia is still the one of the 3 slowest economies in SEA. So yeah, cheap for a reason?

[@NickDemski]

How would you recommend someone make their first home purchase? Should it be a personal home somewhere they want to live, or an investment property to generate income until they can buy their lifestyle home? I feel trapped between in 'Rich Dad, Poor Dad' dichotomy when thinking about this issue...

[@DeclinedMercy]

No wrong answer. It's your lifestyle, decide how you personally want to live. Extra income is great but you need a place to live anyways.

[@NickDemski]

@Keep Rocking! Have you never sought advice from someone who's more experienced than you in a particular industry? It's actually a pretty good idea to do so.

[@NickDemski]

@@DeclinedMercy Very true, I've spent years traveling, never having one solid home, as a means of saving money. Now, I still love travel but I also have some enough cash saved up to make a purchase. I've just never made a big investment before because I never had money before haha.

[@NickDemski]

@Keep Rocking! No, it's really not, I'm asking his perspective from a financial viewpoint, and he's much more experienced than me in that realm.

[@marlajacques6947]

I’m no expert but I have bought in Mayan Riviera (I’m Canadian) mostly for rental income and also I liked it there, not in love with it though. As soon as the first renters left, it became a just a job and I constantly thought about it. I expected that but ever since I sold it, I haven’t gone back. I made $ but now looking into beloved country where the extra time and work doesn’t feel like a hassle!

[@robertm8221]

I don't recommend investing in real estate outside your jurisdiction, for one getting management companies to take care of the property can be challenging and costly, the fact that you're not in close proximity can lead to dishonesty from the management company and there's no way for you to challenge maintenance expenses. Buying property as an investment in a foreign country is like playing a roulette, is not a sure bet by any means, you'd be better off investing in your local properties around the community. Investing in foreign country only make sense if you are young and moving to a country that you will settle permanently, otherwise, buying a property far away from your base will only give you bragging right but a lot of headaches, keep it practical and simple and if you are planning on retiring in a foreign country, do yourself a favor, rent don't buy, keep that cash handy and invest in other things that can supplement your income.

[@nomadcapitalist]

There are definitely different perspectives, Robert. Thanks for sharing.

[@anneofgreengables1619]

Agree 109%

[@stephenburnage7687]

I have two investment apartments in Rio de Janeiro, Brazil. The tenants are good and pay rent on time but j cannot get the money out of the country. Have to visit once a year just to spend my income, locally.

[@soufiankendery4978]

why bro ? is it not allowed sending money out of the country ??

[@Hansen710]

local brazilian crypto currency, can also get you a meal other places in the world 🙃

[@stephenburnage7687]

@@Hansen710 Tried that. You can only buy crypto in Brazil if you transfer funds from a Brazilian bank account in your name. And you cannot open a bank account in Brazil unless you are resident.

[@alessandro5903]

Western Union????

[@rknow78229]

I've been to Italy(lived in) a few times, it's boring after a while.😐 Internet always terrible because you have to purchase a new card every time you run out of data and if you are a foreigner you have to show your passport to purchase a sim card😐. Nothing like America, unlimited with no identification required 👍🏾. The customer service is very poor ( for Europe in general) and there's no accountability. American customer service far supersedes Europe because businesses have an image to protect so they will hold all the workers and management accountable for how they treat people. In general the laws are better here in America when it comes to purchasing a property (insurance protections, etc) because the judicial system moves quickly when there is a problem and it's less corrupt.

[@dinobjelopoljak3293]

You're correct. I'm not surprised that Spain is popular amongst investors. It's a beautiful country, stable, safe, good infrastructure and lots to see and do. Where else in Europe or for that matter anywhere else in the world, can you get this for 100k euros? No where (maybe to some extent Portugal, but I know some Spanish so for me it's Spain).

[@2cartalkers]

Property is not the only region to buy in emerging places, what about the culture, the history, the art and architecture and the food? Very hard to top Spain and Italy.

[@charly4323]

"Some of this countries ruled the world and look at them now", as a Spanish I really feel this, its sad how bad governments can ruin a great country

[@charly4323]

@The last Seeker We already had like 30 civil wars so trust me lack of overthrowing tyrants is not the problem, the problem is whoever is in power after that ends up being shit too.

[@charly4323]

@The last Seeker Dude we already had a shit ton of civil wars in Spain before the US even existed

[@d.a.g.c961]

@@charly4323 Eso es verdad, te aseguro que sin un militar con carisma se rebela no sería como con tejero, esta vez mucha gente le apoyaría, hay un hartazgo muy grande con la democracia entre los jóvenes que ven que no pueden desarrollarse y con la única solución de emigrar.

[@charly4323]

@The last Seeker No I didnt flag anyone I don't restrict freedom of speech I'm not a communist

[@epicurean1868]

Only thing that grows in Italy is debts.

[@rayititoman]

I'm a Spaniard and agree with most of your points. However, who wants to retire in Georgia? Other markets might be more profitable like Vietnam or Thailand looking at the future.

[@footballdreamer9275]

Yo soy de Mallorca. He estado en Georgia y Moldavia, agárrate los machos porque esos países son la hostia. Lo que pasa es que tienen una situación politica estable pero que puede ponerse feo en cualquier momento, pero no tengas duda que por cultura, gastronomía, clima y naturaleza, están a nuestra altura. La baza que tenemos en España gracias a dios, es que al estar tan enfocados al turismo ofrecemos muchas soluciones a extranjeros, sea lo que sea que necesiten. En Georgia y Moldavia para encontrar a alguien que te hable ingles en un banco o ayuntamiento, suerte.

[@kspradeep8397]

Vietnam is good if you mind your own business. No one disturbs you much. Thailand is a bit more expensive than Vietnam. North Vietnam is better than south. Similarly north Thailand is better as well

[@davedogge2280]

4th tier city like Zamora, everyone who can is clearing out to Barcelona, Madrid, Bilbao or abroad.

[@Kazordoon]

Why ?

[@Karl__Pierre]

Good perspective, I'm buying a euro home I'm Italy not as an investment but just to have. Will be watching your channel from here on out I like how you educate.

[@Karl__Pierre]

@@simplysoulenergy7248 man super negative...where would you buy and where do you live now?

[@johnnash9523]

I think I might buy in Valencia but to deal with the taxes.. the imputed income tax sounds scary.

[@paumulet6970]

Your perspective about properties in Italy or Spain are quite superficial and wrong. You can't compare developed countries with poor countries like Cambodia or Vietnam. The main reason is because these countries do not allowed to buy properties by foreiners, you must be married with a local, someone who is living in Europe doesn't need any visa if he/she wants to move to another country, there is no limit of days, try to do this in Thailand. Another thing that you must consider is the level of wealfare in the european countries, police, public hospitals, schools, roads.. all i mentioned have a cost, to have a disease in an underdeveloped country is a risk even if you get a private insurance. Finally if you want to but a house in a good conditions in Spain you must pay 300.000€ minimum, with 100.000$ you won't buy anything, maybe some ugly house in the poorest neightborhood.

[@nomadcapitalist]

Many emerging countries allow full foreign ownership, and not all developed countries (ie: New Zealand, parts of EU) do or impose conditions.

[@isdahuir]

Not only superficial and wrong, but obviously out of any real and thorough study or analysis. He is dissing Spain and Italy just out of ignorance. To be a bit more precise: I myself invest in real estate properties in Valencia (one of the cities he mentiones) some of them I got for much much less than 1.000 euros/sqm and I am getting ove 13% profit EVERY YEAR. So, you just basically need to do your job right.

[@GishStyle]

The British empire once ruled the world and now look at it. It's a weak argument because if, for example, you would have bought into London real estate you would have done very well in the last decades the empire's influence over the world keeps decreasing.

[@MrElamerican]

I agree with most of what you are saying and appreciated the video very much. I will say one thing I do not agree with though, I believe its short sighted with the way home working is developing that you remove the charm from Spain when determining risk. Spain is Europe's beach/resort as most other countries do not have the 1. Food 2. Beaches 3. Cheap service 4. Lifestyle 5. Sun (you cannot buy it)... I do see a trend with people going to cities, but what about with the covid situation? This could in fact change the way we go on vacations. There was a recent survey that said large Hotels are one of the last places people will want to visit in the following year while on vacation. That leaves a lot of market for rental properties!

[@phillobates]

2 years on and I can tell you how right you were: 2nd home villas stock is running low cos people ate them up! Rural property rentals are at their all time highs. Foreigners buying real estate in Spain is reaching their all time highs. People are still using hotels, yes, but villa's rentals have truly rocketed. You were spot on.

[@maverickcapitalist1]

Great points mentioned in this video. I still remember visiting Italy and Spain in 2011, and was quite thrilled by the scenery and really enjoyed the ambience and culture but unfortunately these countries are indeed not growing well economically and likely will continue in the future in other European countries, unless these countries can reverse their ways.

[@socratestrading3801]

Very good points made!

[@AntonioCostaRealEstate]

Historic Downtown São Paulo Brazil there are pockets where one can find at USD 1,000/sq meters or even less and for some interesting properties ranging from apartments , townhomes , fee simple ownership buildings. Mostly solid built, some land marked, and some outright stunners from affluent past times. In areas that are gentrification ripe.

[@smithjeff1986]

Hi I have been pondering whether to send you a message as I am not sure you would be interested in what I do? Then I thought if I don’t ask I will never know.there is something that just came across my desk earlier this year its perhaps the best thing you've seen in the last six months If you've got a minute i’ll like to share the idea with you?

[@AntonioCostaRealEstate]

Owen Jeffrey no sales pitches please. I am a real estate broker myself.

[@jonmould2946]

I like the idea about buying in Venice however it's beauty comes at a premium.

[@georgeklimes7604]

Long term, it might not be around given the rising water levels.

[@Mytake584]

Quite expensive living there and buying a property. Apart from the city being on water I Don't see anything interesting about Venice.Tourism is what has giving Venice name.There are more beautiful places in South Italy and even cheaper

[@BigSmallTravel]

@@Mytake584 Venice was a republic before it became popular to visit: en.wikipedia.org/wiki/Republic_of_Venice

[@smithjeff1986]

Hi I have been pondering whether to send you a message as I am not sure you would be interested in what I do? Then I thought if I don’t ask I will never know.there is something that just came across my desk earlier this year its perhaps the best thing you've seen in the last six months If you've got a minute i’ll like to share the idea with you?

[@JPowerMMA]

Venice stinks, the canals are open sewers

[@thor2795]

In spain u can buy an old village unhabitated for 200 k euros but u have to rebuilt it

[@deboraleggerini5729]

Andrew, do a video on London property please. Thank you

[@aliasgharkhoyee8911]

What would the point of that be? It's pretty well known that most London property is smaller in size and expensive, there are high taxes (stamp duty) and so on. And there are sites like Zoopla that show all their listings online anyway.

[@nomadvehr827]

Are you Joking? London is not even worth considering unless you are loaded.

[@bogdanserban3096]

The point here is how do you cobsider the purchase? As an investment(speculation) or a place to retire? If you choose to retire, definetly EU is the better option considering healthcare, justice, stability, ease of access, quality of life, etc. Of course, this not means that a non EU won't provide the same benefits, but I think that there is much to do in Georgia or Armenia. Bigger returns bigger risks. Are you willing to take it? PS: how do you consider the Romanian real estate market?

[@porcudracului]

Shit. There's no market just speculation

[@Kinai89]

1st, wealth is well hidden in Spain and Italy. 2nd, good deal never appear if you do not speak Spanish or Italian 3rd, buying properties in Valencia was a very bad choice.

[@phillobates]

1- true 2- true. There're data online saying foreigners pay 20-30% more for the property than Spaniards. Source: the notaries and real estate national registers. 3- disagree. For some reason, and I'm also surprised about it, Valencia is on the up now.

[@AndreDMalan1966]

I sm keen on buying old properties, renovating them and then selling them (for me the joy is in the renovation, a genuine hobby). Which country would offer me the best return? I have been to Tbilisi and find it depressing.

[@acpatsalides]

Hi Andrew, I was thinking of getting your book, but I was wondering if it was still relevent today? I think you wrote it a number of years ago. With the pace of change is everything still valid? Thanks

[@jorgegonzales9815]

Where is this mythical place with extremely low taxes (a country with a government not giving any services to their people), hardly any rules (you can just pollute their country), cheap labor (barely pay them anything) and cheap property? Cambodia and Georgia??

[@JimmyMook700]

Pay all cash and you’re fine. Don’t finance anything. There lies the nightmare.

[@thomasj5722]

I live in the south of Spain and the speculation here is out of controle, banks are panic selling repossessed properties right now for 20% of the market value a month ago. I have never seen anything like it. You could barely buy a studio apartment for 200 grand a month ago. Now banks are selling brand new repossessed houses for 55k.. And we are looking at 50% unemployment. I would not touch anything here

[@thpxs0554]

Thomas J I was looking at property there last year, Murcia, Hacienda del Alamo. The place was a ghost town( February) like some apocalyptic aftermath, but the bank was not discounting even a penny. Nice properties, nice development really attractive but the quality was suspect once I got to looking at cracks where patios joined the house or steps coming away from each other, glad I didn’t go ahead. They’ll be worthless burdens once this COVID crash unravels.

[@thomasj5722]

Thpxs05 Thpxs05 Yeah it’s pretty much the poorest region in south east Spain. It was way over developed out there with not many buyers. You can get a brand new villa near the med sea for 150 grand. Here near Málaga you could barely get a studio for 200 grand, but now the banks are banks selling repossessed new villas for 55 grand that was 300-350 a month ago, it’s crazy

[@andersbrixserup7718]

ok, so those numbers are DEFINITELY not correct. The newest assessment is that Spain's unemployment rate might soar to 18% after we have seen the effects of the covid crisis. I understand you are trying to make a point - but get your numbers right. Also, I honestly don't believe banks are selling 200k valued properties at 55k after one month of covid. That sounds too good to be true. Even during the financial collapse of the crisis of 2008-2009, which hit Spain hard, property prices only dropped 20 to 30% on the coast.

[@thomasj5722]

Anders Brix Serup Do you live in Spain? The unofficial unemployment was already over 20% before this. It’s just people ran out of unemployment help so they are not on the list anymore. There are so many people working for black money that even though the government send out financial help for everybody that got unemployed, they had to hand out 50 tons of food in my town to keep anarchy from the streets. It was already extremely overbuild before the crisis back from 2008. The last 10 years there have been so many buyers so development have run wild whilst interest rates were near zero. They build way way too much and not no buyers. If you send me your email I can send you those bank repos if you think I am making this up. On top of that half 90% of the income here on the coast is tourism and tourism is gone completely. It’s a very desperate situation here for many, my bet is half the businesses won’t open again

[@AdamSahr-cj4kf]

@@thomasj5722 Can you send some links to [e-mail] I think investing in some parts of Spain will soon be cool again. Even before Corona it seemed to me priced were coming off the boil, especially in the North.

[@cianog]

Italy hasn’t grown for 20yrs. Population is aging, low birth rate. Country is dead.

[@enricopallazzo3244]

Great! I hate people.

[@gordusmaximus4990]

Reading it like that, its really depressing. But i think they can turn around. They have too, people forget the role of Italy in the EU and even in the world stage, being in culture or even economics.

[@linchou69]

but chicks there are hot asf 😆

[@7magik]

You didn't do your homework very well. Naples in Italy is one of the place in Europe where the houses prices are more going up in the last years. So many people did a very good money. Anyway it's true that there is a problem with bureocracy and taxes.

[@SB-kd8le]

Shhhhh! Cha chi cazzu sa stu mincune, io vogiu gire in pensione li.

[@alcidesmeneses2111]

Very interesting but I don't have money to invest hahaha, why an I watching this!!!

[@francescoverrini4184]

Alcides Meneses I respect you much more than this nonsense people

[@emmanuelm.d8748]

It’s better to be prepared and not have the opportunity than to have the opportunity and not be prepared.

[@violetarodriguez4840]

lcides Meneses Some times you can Dream On!!!

[@alcidesmeneses2111]

Thanks for your replies :) nice above all

[@TywysogCraig]

Where would you recommend to start a country? We would like good fertile grounds, fair weather and ideally somewhere rich in rescources.

[@TywysogCraig]

Gazpacho Suave thats the plan! You are welcome to join

[@ruialves1034]

Can you please give me one or two examples of countries or cities where you can get greater return on investment? Where the economy and the country don’t suffer this kind of situations? I’m investing in Portugal and we have the same issues as Spain and Italy.

[@nomadcapitalist]

Rui, we have dozens of videos on our channel about markets to invest.

[@tatianamalinowska504]

Rui, Malta

[@hybirds111]

'the best days of western europe are behind them' ...oh yeah.

[@Stoneface_]

hybirds111 it’s true, the west is dead and only few countries like the German speaking one are doing well. The future is Asia and Africa!

[@enda99h]

@@Stoneface_ ya, can't wait to sell up and move to Africa!

[@niks1na]

@@Stoneface_ ahahahhahahahahhaha, ahahahhahahahaha !!!

[@francescoverrini4184]

Andrew, where were you born? Nobody put a cream jacket with that shirt (that has a collar that obviously needs a tie)... if you buy in Italy is for life, not for Income. In the trying to be part of history, tradition and coolness… don’t even think that. Stay in US

[@hybirds111]

i think eastern europe will be fine in the future! The western european man is very different from the eastern european man!

[@GerardC75]

Spaniard here living in Amsterdam, properties that are extremely cheap are usually located in places where there's no jobs and of course forget about international community, if you move there you will have nothing else to do but relax Spain only leads in two types of property, cheap property for people that has some external source of income, for example you could buy a cheap house with swimming pool in Alicante province and live there or just for holidays and luxury real estate in some places like Marbella, Estepona, Mallorca etc.., one of the best luxury estate markets in the world but for investing? hell no, maybe if you are wealthy enough to do business with real estate in BCN or Madrid it's possible to make money... otherwise forget about it, just recreational or if you are lucky Airbnb in a cheap town can be great

[@TheRaul45]

That is the same problem in all countries. Obvious, you don't say anything new. TELEWORK has existed for years. Spain has some advantage as the largest high-speed train network in the world. Spain is the country with the most kilometers of roads in the world.

[@SuperCatbert]

so im not moving to a gorgeous country with lots of culture, weather, scenery because the house i can afford is ugly. And having a mcdonalds is progress. Ok i think we probably disagree on a few things then.

[@newnorth1100]

You have never owned property in Spain or Italy. Have you

[@agatateneriferealestate6658]

You cannot compare pears to apples... Right... So how you can compare Cambodia to Spain... 😅 Nothing against Asia, but I would never exchange a decent property in Spain for one in Cambodia. Please also take into account flight costs and time to go there and back to Cambodia... Does it not eat your profits?

[@joshmark277]

Hello how are you doing, my name is josh mark and you?

[@Yousef-fs3nx]

Exception is the Canary Islands, Tenerife. Always a winner! Year round sun and warm weather always able to rent to northern europeans on air bnb year round. Though properties are more pricey than mainland!

[@TheNextBigRush]

Airbnb landlords are going bust all over the world as we speak!

[@jaysterling26]

@@TheNextBigRush I've (where?) already read speculation (sic) that Air BnBs are going to get off loaded because of the situation (?).

[@TheNextBigRush]

@@jaysterling26 100% happening, specially in Portugal. Gov help hasn't been enough.

[@AndyWardTenerifeEstateAgents]

I live here in Tenerife and own an estate agency. Its going to be a tough year but there will always be strong behind because of year-round sunshine - the busiest time here is November to Easter.

[@Yousef-fs3nx]

@@AndyWardTenerifeEstateAgents year round warmth and sunshine and only 4 hours away. Tenerife is always a winner

[@peterraimondo5995]

Do you see any property investment opportunities in Africa, or sub-Saharan Africa, at the moment?

[@rlhaff3560]

Everything you say is true, no doubt. But what you are overlooking is the reason many spend extra to be in a country like Italy; art, culture, food, architectural beauty, history…unmatched in probably anywhere else in the world. Georgia is a great country, but it ain’t Italy. Low taxes are great, but truly living life to the max is priceless. It’s about priorities, and everyone’s desires will vary, some value saving every penny they can…others, living life to the fullest.

[@konsmberg]

You don't need to OWN the property. If you retire in your 50s and don't have any children, why bother buying? You can always rent - rents are still cheap there. You have more freedom that way. And if you want to invest in real estate, invest in local REITs, less headache, no need to manage the property etc.

[@soniadicker]

In spain the best investment is buy on the beach front (sea view) or barcelona and madrid center

[@miquelll.2479]

There is no beach in Madrid

[@perthfanny3017]

@@miquelll.2479 she said Madrid center...

[@bodyloverz30]

What about Greece, is it worth the risk?

[@TheMountainBeyondTheWoods]

I agree with all the financial reasons you gave, I do think you're right, but ultimately people want to live where they feel will be happier, and Spain and Italy might be a brand and on the decline but they're still a more attractive destination than all the other places you mentioned, depending on the persons own dreams, wishes, and personality. I know I have zero interest in living anywhere in Asia, and the same goes for South America and plenty of other places you talk about. Sure, it might make financial sense, and that's a very good reason to choose those places, but life is more than that. In the end it really depends on the person, for a lot of people it just might make a lot more sense to move to Malaysia or Georgia than Italy or Spain.

[@phillobates]

Agree with you. As per today, property in Spain bought by foreigners is at its all time high. I know it cos I'm Spanish closely following my own country's market. Brexit has moderated purchases from Brits (they're still buying and are top 1 buyers though) but Germans, Dutch, Swedes, etc are taking over. This info can easily be searched: "% foreigners buying property in Spain"

[@davidnebadze5891]

Georgia has as much to offer as Italy and Spain, it is just a name and social media how they portray those places.

[@MartinBurton]

Conned out of £1000 when attempting to buy land in Vinaroz Spain....the estate agent says one thing..the Authorities say another....far too much risk and red tape in Spain...Spain is facing a massive pension crisis in the future...Lived in Spain for five years Vinaroz/Benidorm and Alicante..Average wages 1400€ per month ..State Benefits only paid for six months in any year..Since Brexit the attitude of the Spanish has changed dramatically

[@ropa2142]

Spain is cheap to rent.....go and rent there for a while, if you still like it and are settled there after a few years then maybe that is the time time to think about buying....

[@perthfanny3017]

Yes it is cheap. Unless you have a Spanish paycheck 😔

[@fahedal-ajmi4015]

I bought an apartment to lease in Manchester with guaranteed 7.5% return for 3 years, at the end of the guaranteed period the return dived to 4%and this even before the covid 19 impact!

[@joebloggs4191]

@Buster's Travels In the UK, bricks and mortar in the long run generally is!

[@MrManuelcast]

Why is he so obsessed with Georgia? It has a bad reputation when it comes to security comparing that country with others in Europe.

[@dlukton]

Relatively easy to get a residence permit in Georgia; in addition, foreign-source personal income in Georgia is tax-exempt.

[@harleywoolford5247]

The Georgian government supports free market policies

[@MrManuelcast]

@@harleywoolford5247 The European Union as well, its one of it principles.

[@harleywoolford5247]

MrManuelcast somewhat but it matters to what degree. If I’m not mistaken EU supports competition and free trade, but it won’t take a strong position on income taxes or corporate taxes, or labor unions. Some EU countries like Greece and France are a lot less free market than say Ireland or UK at least according Index of Economic Freedom by Heritage foundation or Fraser Institute. Many EU countries still have some of the highest tax rates in the world

[@anon2034]

@@dlukton Correct!

[@danhope77]

Sure, better to buy a rathole in London for the price of a castle in Spain. Wait... not sure.

[@matthaze]

"I don't want to live in the past." Powerful!

[@zekkai1005]

Cuban people lives 60 years behind us...

[@danimaster6647]

Or in a first world country

[@dannysze8183]

basically it is really not a good idea in spain if you are not living in spain permanently and become a spanish citizen. they have income gain tax, VAT, inheritance tax, high agent commission, property tax. it can add up to 40 to 50 percent. very bad investment.

[@grzegorzpawlik3094]

Would you be able to estimate a yearly cost of owning an unrented property in Spain (Barcelona) as a non-resident with a value of around 200k?