Buying property abroad

grahamor

Hi,

I always love seeing that thing in the Irish times where ' buy a 3 bed semi in drimnagh for 350,000 or a 8 bed farm house in Tuscany for the same price'

i think im actually going to consider buying a place abroad instead of something here.

Does anyone know any good sites for foreign properties like the one i mentioned above, i.e. cheap, rural etc.

Thanks

Crubeens

Don't know how far a field you want to buy, but I think Morocco is going to turn in to a hot spot for property. Developers are buying up chunks of the North coast so an off plan investment there now might show a nice little return in ten years

Raytown Rocks

Hi Grahamor
I am in the process of buying an apartment in Turkey at the moment. Again not a rural farmhouse setup, but what with emerging from the EU (hopefully) in the future etc, could be a good investment.
I have invested straight from the plans and the apartment I have bought has already increased in value by €20,000, from what originally they were valued at.
Chef

marsdelight

i bought in turkey and im very very happy. bought direct from the builders.
saved a packet.
all above board etc. my mam and dad use it in winter months and a few mates .
if you need any advice .no bother.
theres not a great deal to make on renting it,but better than money in the bank. i was offered 350 per month from an agency.
i bought a property a year ago and sold it at a 12k profit. so my now property paid 1/3rd of it by its self.
if you need advice contact me.
i was over there a few weeks ago with my dad. and saw a property from the guy i bought mine from for 65 granite kitchen 5 bed. sea veiw.
as to the above . no dis respect mate. id stay away from apartments.
too selective of a market when selling.3plex villas are best.

connundrum

*Plug*

House Hunters in the Sun magazine, I work for the mag and have trader knowledge on new spots in Turkey, Carribean, Portugal and the Red Sea Riviera. PM if I can be of any help

Victor

grahamor wrote:

8 bed farm house in Tuscany for the same price'

What are the annual property taxes? What condition is it in? How accessible is it? ......

grahamor

Victor wrote:

What are the annual property taxes? What condition is it in? How accessible is it? ......

im sure all the above is cheaper than it is in Ireland !!!

I also think it would be cool to renovate it myself (loads of work i know, but fun all the same)

Thanks for all the advice

Carpenter

chef wrote:

Hi Grahamor
I am in the process of buying an apartment in Turkey at the moment. Again not a rural farmhouse setup, but what with emerging from the EU (hopefully) in the future etc, could be a good investment.
I have invested straight from the plans and the apartment I have bought has already increased in value by €20,000, from what originally they were valued at.
Chef

Hi
Dont mind me asking where did you buy it was it off capital development

Victor

grahamor wrote:

im sure all the above is cheaper than it is in Ireland !!!

We don't have property taxes. Imagine paying 5% of the value of the property every year in taxes - as much as the mortgage.

Stamp duty is a transaction tax, not a property tax.

boy_wonder

Anybody know much about buying in Dubai?
They look fairly reasonable. Direct flight with aer lingus, 5 hour flight, sunshine all year round etc etc etc.

Any advice regarding here or anywhere else? Will have a budget of approx 80k and am looking to get rent back on this. How is the mortgage done etc? I believe 15 year mortgages is the max you can get.

jdivision

You have to compare with the local market. I know there's problems with The Palms - there's no planning regulations as such so you might buy an apartment in a scheme and then find that they've put a bunch of extra buildings around it, increased the site density or done other things that will put massive pressure on water supplies, sewerage etc. Dubai has shot up in value over the last 18 months. I'd do a lot of research to find out what's being charged over there and what agents are charging here!! That could explain why things have gotten so much more expensive

RobEire

grahamor wrote:

Hi,

I always love seeing that thing in the Irish times where ' buy a 3 bed semi in drimnagh for 350,000 or a 8 bed farm house in Tuscany for the same price'

i think im actually going to consider buying a place abroad instead of something here.

Does anyone know any good sites for foreign properties like the one i mentioned above, i.e. cheap, rural etc.

Thanks

Pretty expensive prices those - I gave up on Ireland a long time ago and have been shopping around in Italy for a place with a decent chunk of land - the top end of my budget is €75k and there are still a good many properties going for that or less if you know where to look.

The_Conductor

At the risk of sounding like a broken record- please remember that buying property abroad means loose all rights as a first time buyer here in Ireland. A 12k profit turnaround in a year on a property in Turkey might sound brilliant- until you discover you will have a much higher stamp duty, lower mortgage relief and fewer exemptions here in Ireland. Weigh up the pro's and the con's carefully.....

lomb

why do they keep advertising dubai /french/ swiss property in ireland. taking out a full page in the times cost 20 grand. cant they get local buyers? if they cant then they are too dear!

Raytown Rocks

Carpenter wrote:

Hi
Dont mind me asking where did you buy it was it off capital development

Hey Carpenter

I am buying off Capital Developments, did you have any experience's with them, good or bad.

Thanks

Chef

Victor

lomb wrote:

why do they keep advertising dubai /french/ swiss property in ireland. taking out a full page in the times cost 20 grand. cant they get local buyers? if they cant then they are too dear!

Because a lot of Irish investors are willing to panic buy, which gives the vendors extra profit.

Hagar

grahamor wrote:

im sure all the above is cheaper than it is in Ireland !!!

I also think it would be cool to renovate it myself (loads of work i know, but fun all the same)

Thanks for all the advice

Renovating houses in France is not nearly as much fun in real life as it is protrayed on the TV shows. Trust me on this one.

In France the buyer pays the estate agent (6%, that is not a mis-print) and the notaire ( state legal person), and any taxes, duties etc. Reckon on Cost of property + 15% in all. Sometimes the estate agent charges are included in the price (frais d'agence inclus). Local taxes vary greatly and are based on property size not number of occupants.

Try www.pap.fr thats person to person no agents.

Know a few Serbs in construction so took their advice and a group of us bought development land in Serbia. Intended to get planning for 4 houses, have now been told that we can get 32 apartments on the same land. However the market is selling to Serbs, not many Europeans moving in there yet, so only expect about 50k an apartment back. Any profits will be just put back into some other venture out there until they get nearer to getting in to the EU.

Now if only they hand up that Radko Mladic they'd be a bit closer...