I'm looking to buy a 2 bedroom apartment in Mallorca and would be grateful for any advice. Firstly I am not looking for any quick profits or yearly income, I would just like a place that more or less breaks even paying the mortgage/running costs annually. I have only just started researching the pros and cons of such an investment and have a few questions:
1) Is the above feasible? 2) Off plan or resale? 3) Best areas to get an achievable rental income 4) How much all in (ball park) for such a place at todays prices? 5) Spanish or UK mortgage? 6) Annual tax?
I am not interested in investing outside of Mallorca although I do appreciate that the property market there is very mature.
