Anyone sold or bought overseas via daft.ie

[presidenttttt]

Portugal EA fees are substantial. 4 or 5 percent typically.

Open to the idea of selling our prime location Algarve property. It washes its face as an investment through asset value growth, and occasional rent (it would rent all summer but we don't advertise it and utilise it ourselves). We do holiday there ourselves a few times a year, so not in any hurry to sell, but the EA fees do tilt things substantially towards holding for longer, when we probably wouldn't mind freeing up the capital for other investments (adding family members increases comfort of more liquid investments).

We are there frequently and have a manager so managing viewings isn't a big deal.

Realistically do we need to swallow the local fees, or is it viable to sell ourselves? Curious if anyones been in a similar spot?

 

[Nordkapp]

If you sold, where else would you buy? Seems property prices are high enough in Portugal at the moment, momentum built up during and post pandemic.
Waiting for prices to drop there myself….

 

[presidenttttt]

Hi Nordkapp,

We wouldn't buy anywhere. Kids now, and desire for some parental leave means some extra cash or investment in something more flexible like stocks may suit us for a few years.

My sense of the market down there is it has been steady over the past few years and while we have seen some asset value growth we haven't really seen that in the form of an obvious covid bump. Rental is probably stronger now, but there is a little less Brits competing post brexit so seems to be balanced.

What area are you considering? What sort of property?

 

[Nordkapp]

Might be best to hold onto it. I can’t see prices falling enough.
I am looking in Albufera area but does not have to be right on the coast. Some quiet villages near the hills would suit and ideally a two bed house with garage for the motorcycle.

 

[presidenttttt]

Small update. The portugal agents will negotiate a little their fee. Some won't and would rather lose the sale than negotiate down.