buying abroad verses buying in the UK

vickyb

Hi everyone I'm wondering what all your opinions are on buying property in Spain apposed to buying in the UK to rent out, with this whole Brexit thing?
I'm starting out buying property and have always wanted property abroad but unsure whether its to risky at the minute.
thankyou
Vic

london.cidade

very open ended question. firstly, what about BTL rental yields of properties?

conqueror01

what are you trying to achieve?
where will you spend your time (and therefore what currency will your day-to-day money be in)?

vickyb

well ill be spending most of my time back and forwards from the uk and Dubai but it would be holiday home for me and then to rent out for friends and family the rest of the year when I don't go for holiday. so my day to day money would be in GBP.
but I'm just wondering what everyones opinions are on buying in Spain as in would you or wouldn't you at the minute?
Thankyou

eddddy

It sounds like your question is about investment risk.

You should also consider the practicalities of property ownership 'at a distance'.

These include...

- Property ownership laws which are different from the UK,

- Dealing with local utility companies, insurance companies etc

- Somebody tells you there's a leak - arranging plumbers, builders etc to fix it

- Dealing with a burglary

- Finding somebody trustworthy to check on the property periodically - especially when it is empty.


You say you are starting out buying property. I would suggest that you buy in the UK, and use the rental income from the UK property to fund your holidays in Spain. It will probably be far less painful.

always_sunny

depends what you want to do; why Spain?
There are a lot of other countries that offer better proposition.

gfplux

From the limited information you have to consider the following.

Currency risk.
Spain is an EU Country and the rules about ownership and access are about to change assuming you have a British citizen.
You know the UK and Dubai better than Spain.