First of all thanks, I nearly attended an MRI inspection trip before I came across this forum and read about it.
I wouldn't mind a bit of advie though....
We have a budget of around £60-70k and are possibly thinking of buying abroad. Italy appeals at the minute but we'd also consider France.
Where are the right places to look? So far after lots of searching online all I can seem to find are off plan properties, usually through agents such as MRI.
We're looking for something that's already built and doesn't require any renovation. Primarily, it's an investment. We do want to use it as a holiday home maybe a couple of times a year and then hope to rent it out for the rest of the season. There's no mortgage to worry about so there's no stress about leaving it empty for a month or 2.
In Italy I'd go for Calabria (the 'toe' of Italy), for the money you are talking about most other decent places in Italy are beyond your budget.
I have only briefly looked at France and all the properties I looked at were considerably more than 60k-70k. Maybe someone more familiar with France can shed some more light for you.
There are loads of other places for you to consider, how about Turkey (Bodrum area), Macedonia, Cyprus, Crete, Morocco, etc...
As always before purchasing do your own independent due diligence, this will include visiting the place you like to see if you DO actually like it.
Most importantly, it's worth spending a bit extra and getting the services of a good solicitor.
For what it's worth I'm keen on Calabria at the moment.
You want a high standard property for about 60k in France or Italy? But not somewhere that there is still development or building going on because it is still affordable?
You may just be about 10 years too late . You may well have to look in areas of new developments (ie. the less sought after areas).
Calabria's the place we've chosen and although we're buying off plan that doesn't worry me as we're buying into a very small development called Il Casale di Capo Vaticano.
For us the attraction was low prices, increasing availability of flights (And short journey time), great weather right into October, existing infrastructure, EU membership, political stability etc etc...
I can also reassure you that NOT all agents are like MRI - ours certainly wasn't! Our viewing trip was very relaxed, personal and done on a one-to-one basis (None of this being herded around in a minibus for 9 hours or being 'held hostage' in a hotel and told you're "not allowed" to leave if you're not going to buy - yes, I've heard from someone that that has genuinely happened to when they decided not to buy from one particular company
Yes there is a lot of new development going on in Calabria but I think you'll find it's mainly on the eastern coast where the big, concrete, soulless boxes are being built. Look to the West coast and you'll find places that are far more individual and tasteful and in my opinion offer better rental potential and future resale value.
Thanks Sam, unfortunately though MRI has put us off that area a little bit.
It looks lovely though and the stuff you were saying about the area etc I would agree with. Just left us with a bad taste in our mouths after experiencing their hard sell.
Going across to France in July now. There's actually a lot of brilliant places still for sale between 60-70k. Think we have 7 properties so far to view in 2 days! Could be fun. They're all along the Med coast though and in touristy areas. Already had a few clients in my business trying to book it for next summer so hopefully renting it won't be a problem.
I'll update this thread again after we've seen the properties and let you know how it goes
Hi ! BK - Let me know how you get on in France on that budget. I have given up on Calabria as well - too many pretty pictures for 50% deposit and not enough bricks and mortar, to name one of 100 negative reasons. Like the thought of France again - reachable by boat and train + you see what you are gonna get.
We're in the middle of pruchasing a maisonette in port leucate, France. Very nice area, lots of touristy shops etc and it's close to perpignan, carcassone and Barcelona. Leucate's on a peninsula, we're at the lake side but the beach is 5mins away on a bike.
We're purchasing through latitudes property services. So far, they've been brilliant. There's been no pressure whatsoever through the whole process and since I'm very inexperienced buying abroad they're helping me out a great deal at the minute.
France to me is a solid buy, not much risk and a nice steady investment. A bit like buying in the UK. The buying process is very simple too, no nasty surprises along the way. But you must do your homework first and make sure the agent has told you about all the fees before you sign anything!
We should have our house by 16 October at the latest, we've just signed our comprimis du vente. I'll post again if there's any bad news!
Had you thought about Switzerland? (Groan from everyone who knows me from the Swiss threads..) If you like skiing, cycling, mountain-biking or alpine walking, then you might find a studio for your sort of price. Switzerland can be cheaper per M2 than france, surprisingly, as long as you go outside the main resorts.
Congrats from me too BK. Never looked at Port Leucate - interesting and seems very reasonable. Keep telling us how you get on. Might have a look. I always thought Switzerland was expensive msej - have I got it wrong?
Stu, it's an existing property. Not a new build. There's a retired couple living in it at the minute so it's been well looked after. Needs some horrible green painted over but that's it!
It's not very big, it's only a maisonette. Only about 35m2
Port Leucate's a nice area. Very touristy, so should be easliy rented. There are supposed to be new links with the TGV to Barcelona within a couple of years so could be a sound investment.
Personally, I would love to buy a place in sharm el sheikh. I love it there but probably not a great investment so hey ho...
See the seperate thread on Egypt, sounds not a good investment. On my last reply I meant Montenegro NOT Macedonia
Hi, picking up on Macedonia, I guess you have been there or met Alexander The Great somewhere? That's where we live/work, fascinating country next to Greece, but there are fights about the name still. Just for info, one can buy a property for 5 -6000 Euros..., in beautiful villages, lovely mountains, lake Ohrid, one of the oldest lakes in the world, and Prespa lake are to die for(fresh water lakes) history, organic food (they don't know how to spoil it yet) but it is still a risk to purchase here! Even local people get caught out, but keep this country in mind! Visit it, it's beautiful here, but no sea like in Montenegro!
Originally posted by vbland: So, let's get this right.
You want a high standard property for about 60k in France or Italy? But not somewhere that there is still development or building going on because it is still affordable?
You may just be about 10 years too late . You may well have to look in areas of new developments (ie. the less sought after areas).
I agree with the others - widen your options.
I agree with you vbland, talking to UK friends here in Macedonia, who bought a property in Umbria to repair/refurbish etc. for £135.000,- over 18 months ago, this was considered to be reasonable in price! Interesting to learn from them, many Italiens go on holiday to Montenegro...better sea, beaches, etc....
. You may well have to look in areas of new developments (ie. the less sought after areas).
