1. What Cervelo is saying is on the money. Covid-19 burnt the likes of me who lets out the holiday property on-and-off throughout the year (as we tend to use it ourselves in the more lucrative times). I am facing the prospect (for 2021) for putting our apartment up for long term rental through some agent - no hassle, no worry, no sweat and we can holiday in Spain or elsewhere. Perhaps our investment will come to some kind of profit rather than yearly loss? It's an ill wind . . . But, my suspicious mind is working overtime.
2. I don't mean to offend Paulo2003. He likely into his 60's (I'm much older). Buy property abroad for him (in my opinion) is not a good move for the following reasons:-
(i) Probably most of your available cash will be spent.
(ii) If you do buy, you're probably better off putting the property into the names of your children. Then less "handover" problems when you die.
(iii) You're going to spend more time in Lanzarote/Spain/elsewhere - Terrific! - But, you can rent in the off season for around €650.00 per month inclusive of utilities, internet and no extras and better again no worries.
(iv) Lep is talking through his "you-know-what." Sound! Drive on! The first five years of foreign property ownership brings you along in a wave of happiness and you wonder why you hadn't done this before now. Great if it works, but we've been through the mill with less than honest real estate agents, cleaners, Spanish neighbours (yes Spanish neighbours and they are not Spaniards), people renting from us, Spanish banks with the sympathies of a Drug Baron and the continuous concern that everything is OK there.
(a) If you take one bit of advice from this post and you still purchase abroad you need an honest cleaning person.
(b) We looked at Lanzarote years back. Great sunshine, Long Distance, Apartments on top of each other - Resale Value = Worrying.
(c) I hope you can prove me to be wrong.