Buying in Spain

[Mudstud]

I'm thinking of buying a place in Spain to rent out. Any guru's out there who would know whether it is best to buy in your own name or use a UK Limited company?

[Egbert Nobacon]

Mudstud said:

I'm thinking of buying a place in Spain to rent out. Any guru's out there who would know whether it is best to buy in your own name or use a UK Limited company?

In light of recent reports of huge oversupply in the Spanish market currently and likely price drops is this a wise idea at the moment ?

http://www.spanishpropertyinsight.com/

Lots of info here.

[FUBAR]

And watch out for the infamous Spanish 'Land Grab'

http://www.thisismoney.co.uk/news/article.html?in_...

[arfur]

Talk to www.spanishproperty.co.uk for quality advice and services

[TDIPLC]

I used an offshore company, if that helps.

I sugest that you be careful where you buy becaesu they have major quality issues.

[Mudstud]

Thanks for your pointers guys - anyone come across a one page summary on the pros and cons of offshore company vs UK limited company vs private purchase for buying a place in spain. The more I look the more confused I get. Maybe a good idea to wait a year and see how this mortgage crises hits the rest of the world anyway.

[CIS121]

Egbert Nobacon said:

Mudstud said:

I'm thinking of buying a place in Spain to rent out. Any guru's out there who would know whether it is best to buy in your own name or use a UK Limited company?

In light of recent reports of huge oversupply in the Spanish market currently and likely price drops is this a wise idea at the moment ?

http://www.spanishpropertyinsight.com/

Lots of info here.

Yes, buying in Spain is a great idea. It's very hard for sellers to shift their houses. Some are trying to get close to what it would have got before the crash and some are desperate to sell and selling for whatever the market will get.

If you do your research well you can pick up a great deal out there. I'd expect to get large discounts on what places were selling for a couple of years ago, but this depends on the lcoation.

[JD247]

You may also wish to consider the situation on death. Unlike in the UK a property does not automatically pass to a surviving spouse or other heirs. In fact it depends on a number of factors, including the blood line of the person who inherits. The equivalent of UK IHT in spain on property can be as high as 82%!

Get some specialist advice before taking the plunge.

[Mudstud]

With the state of the US$ houses in the states are beginning to look very attractive - so now looking at that venue, houses are half the price and twice as big compared to Spain.

[Timmy33]

Mudstud said:

With the state of the US$ houses in the states are beginning to look very attractive - so now looking at that venue, houses are half the price and twice as big compared to Spain.

Does the phrase "catching a falling knife" mean anything to you?

[Mudstud]

Yes, in this case just waiting until it has fallen on the ground then pick it with reduced risk.

[Timmy33]

Mudstud said:

Yes, in this case just waiting until it has fallen on the ground then pick it with reduced risk.

I'd wait awhile yet then if I were you. This feels like the start rather than the end.

[Jasper Gilder]

I bought in Spain five years ago and had the same dilemma - send me a private mail and I'll tell you how I did things - also tell me where because if it's close to me I can reccomend a brilliant Spanish lawyer ( you won't get past first base without one!)