Holiday Investment Under 45k Euros: (buying a holiday let in say Turkey or Bulgaria )

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Bnage

Registered User
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Hi all,

Just wondering what peoples experiences are of buying a holiday let in say Turkey or Bulgaria are? Im looking at the cheaper end of the market; is it worth going into or just to much hard work?

Comments appreciated
 
Re: Holiday Investment Under 45k Euros

Bnage said:
Hi all,

Just wondering what peoples experiences are of buying a holiday let in say Turkey or Bulgaria are? Im looking at the cheaper end of the market; is it worth going into or just to much hard work?

Comments appreciated
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Don't ever buy cheap property, it's cheap for a reason. In particular, don't buy cheap property at inflated prices (for loads of examples, go to the two places you mentioned).

Try instead to buy good property cheaply, different thing altogether!
 
Re: Holiday Investment Under 45k Euros

I just noticed a development advertised in the Indo today...it seems like an awesome deal, 10% gross, 8.5% net guaranteed for 10 years in Turkey. Has to set alarm bells off in your head though...why don't they just hang on to them?!
If it were all above board we'd all be in like a flash...or am I being too cynical?
 
Re: Holiday Investment Under 45k Euros

Free property! We should all get some before it's gone!
 
Re: Holiday Investment Under 45k Euros

auto320 said:
Free property! We should all get some before it's gone!
Click to expand...

A friend of a friend paid over the guts of 50K for a place in Kusadasi (no idea how to spell it) and lost it all...from what I heard Turkish propert law is at best complicated and at worst banana republic stuff.
Caveat Emptor times infinity
 
Re: Holiday Investment Under 45k Euros

Thanks for the advise. Just want to buy somewhere for my mother as she has retired. Rather than looking at off plan, what about a unit that is alomst complete or already completed?

Any other cheap countries WORTH looking at?

Thanks
 
Re: Holiday Investment Under 45k Euros

Do you mean that you are looking to invest your mother's money in a foreign property? You should be careful if this is the case. It's very easy to get into awkward situations over money with family! I'd get independent, professional advice if I was you or your mother.
 
Re: Holiday Investment Under 45k Euros

It is my money actually so my risk. I dont want to waste my time looking at certain countries then find out they are too risky. We have a financial advisor who will help us before any investment is made and my best friend is a solicitor so he can view the contracts for me.

An views on Croatia or Morroco?
 
Re: Holiday Investment Under 45k Euros

Bnage said:
Thanks for the advise. Just want to buy somewhere for my mother as she has retired. Rather than looking at off plan, what about a unit that is alomst complete or already completed?

Any other cheap countries WORTH looking at?

Thanks
Click to expand...

Berlin. And whilst you may not make any spectacular gains, you wont lose your shirt either.

Or something in rural sweden.
 
Re: Holiday Investment Under 45k Euros

I'm not sure why you want to buy anything at all. Would it not make more sense to invest in a more liquid asset and just spend the profit on rental in various holiday destinations instead of choosing one particular property?
 
Re: Holiday Investment Under 45k Euros

I want a 2nd property and with UK/Ireland prices this seems to be the only thing I can afford; plus it is something my family want.

I dont think my mother would fancy going on holiday to Berlin! The investment would need to be somewhere hot and by a beach.
 
Re: Holiday Investment Under 45k Euros

fuerteventura for around €75k. look at the fuereventura tread. one of the posts has a fuerteventura website with loads of photos. beaches look nice. suspect they are windy but at least its a warm wind.
 
Re: Holiday Investment Under 45k Euros

One problem: 75 is greater than 45.
 
Re: Holiday Investment Under 45k Euros

Its a good idea though. I could always try going halves with a business partner. Or I could try a squeeze some money out of the old queen, although the words blood and stone spring to mind!!

Ill have a look at the thread.

Thanks
 
Re: Holiday Investment Under 45k Euros

If I was buying a holiday property for a retired person, I reckon there is no point in buying them a place in a country where they are afraid to go outside the door. That rules out Morocco, you need to be lively enough to deal with the begging etc. There is also no point in sending them somewhere that there is poor medical care, or a generally alien environment where they won't feel comfortable.

It is also very important that you pick a location where the climate is benign, and where winter sunshine is warm and fairly constant.

As I see it, you have a couple of options, most of which involve spending a bit more than 45k. You could go halves with her, and put in another 45k yourself, and buy something small but perfectly formed in Spain or Portugal, in a nice town but away from the more expensive holiday resorts. An existing small expat community will help to ease her into living in the area, so not too far from the maddening crowd either.

You also want to look to eventual disposal of the property if a time comes when none of you want to use it any longer. For that reason alone, stay away from the rubbish; it will be impossible to shift. Don't go somewhere completely isolated either, for reasons of resale and practicality.

I know of a nice little place that is on the market for 65k, pm me and I'll pass the details to you.

I know, it's over your budget, but not too far away from it either. Best I can do I'm afraid!
 
Re: Holiday Investment Under 45k Euros

Why dont you look at investing in comercial property, there are some great investments out there. Or is this some where that your mum canr stay?
 
Re: Holiday Investment Under 45k Euros

You want him to put his mother in a shop?

What happened to our great respect for the Irish Mammy?
 
Re: Holiday Investment Under 45k Euros

why not invest the money and make a withdrawl every year and go to a top hotel in a top resort.she can go anywere she wants not to the same place.
 
Re: Holiday Investment Under 45k Euros

Great suggestion Dannybuoy. I'd imagine that €45k could get you 20+ years of hoildays, while I would be surprised if it would buy you anything in a decent location.
 
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