So you have an apartment in Spain....

[jammy_basturd]

Completed earlier in the year, costly you a few hundred pounds a month, currently sitting empty. Two bedroom place, south of Barcelona in a nice area, not built up at all, right on the edge of a PGA golf course. Do you let it sit there, waiting for the market to pick up and then try and sell it and make a profit, look at selling it now and hope you don't make a loss (but also no you don't have to spend out on the mortgage every month), or spend £3-5k on furnishing the place hoping that you'll be able to cover the rent + £3-5k with bookings next year?

[Mc Lovin]

holiday let.

[illmonkey]

Let it out. Reckon in year one you'd break even with £3k. Next year, might make a profit.

[SS HSV]

Always sit tight and wait for the market to recover. People will always need holidays where its hot you know

[jammy_basturd]

illmonkey said:

Let it out. Reckon in year one you'd break even with £3k. Next year, might make a profit.

But I'd need that just to cover the mortgage (actually about double that), plus however much I'd spent furnishing it...

[Ahhh Moneypenny]

SS HSV said:

Always sit tight and wait for the market to recover. People will always need holidays where its hot you know

Not just holidays, my parents are renting until their own place is finished being built, they would rather live out there so they can over see the build, they have all there own furniture and have been renting for about 4 months now, so don't just think of it as a holiday let.
K

[Not Ideal]

Yup. Try to avoid buying at the high and selling at the low.

Rent it out and stick it out.

Good luck.

[13th]

Put it on the market now.

As a favour I'd go out and look after the place for you and do the "show rounds" I'd even put a few sticks of furniture in for you!!!!

Hey there's an offer you can't refuse, you know it makes sense!

ETA Just because I know you know a bargain when you see one I'd throw a couple of security dogs in for nothing!

Edited by 13th on Thursday 20th November 14:26

[Neil_H]

Why would you leave it sitting empty in the first place?

[HAB]

If you can afford it, forget about selling it for a while. Very bad timing.

I've got a small villa outside Granada, and was thinking the same thing, but it's now being let out while I'm in the UK.

Just make sure you get good advertising coverage, and you should have no problems renting - especially if its near Barca

[emicen]

SS HSV said:

Always sit tight and wait for the market to recover. People will always want holidays where its hot you know

EFA

Quite a lot of people will have their needs realigned with their means in the coming years.

[jammy_basturd]

Excellent, pretty much sums up what I'd been thinking, but wanted someone to hold my hand and tell me everything is going to be ok.

Thanks PH massif.

Also. Worst 'I have an apartment in Spain' thread. Ever.

[NDA]

Put it on the market whilst trying to rent it out.... tough times. I'm sitting on rather a lot of property that I wished I wasn't.

[JonSpiderMan]

Try letting it out.. as it's next to a golf course, you should get at least 3k in lets, mate of mine had a similar property near alicante and got in touch with the local golf clubs to him in england, and advertised it with them and it's let out for most of the summer.. his was a two bed as well and he got 250-350 a week for it.

We've got a flat in mallorca and we've pretty much let out for most of the year so it pays for itself now, but we mainly deal with friends and work colleagues and don't deal with letting agents, as people seem to respect the place more then.

[Dirty Boy]

Let it out.

Family and friends might take up any slack weeks for a token £100 here and there, all helps.

Nothing is selling out there, so you may as well try and break even on costs and hang onto it for 10 years or so, making use of it yourself as a cheap get away.

[NDA]

swerni said:

NDA said:

Put it on the market whilst trying to rent it out.... tough times. I'm sitting on rather a lot of property that I wished I wasn't.

will double my last offer if you like

Coins to paper? You're all heart!

[Badgerboy]

www.ownersdirect.com?

[Tony*T3]

You'll have to hang on to it as the market in Spain is dead as a dodo - massive oversupply and massive price crash.

So you may as well rent it long term. Would suggest letting it as is, many flats in spain come furnished theres bound to be a market for unfrunished.

[Ment-Al]

Go there a couple of times a year for a holiday yourself as well. The money you save not paying for accommodation you can take away from the money it has been costing you.

[johnfm]

With the recent £ v Euro changes, would selling in euro lead to a loss?