As promised I visited Alicante last weekend. It's a very nice place on Costa Blanca shore with a lot of interesting real estate offers. My plan was to find some nice apartment, buy it, then rent it. Of course in the Internet everything is easy, prices are low, credits on good conditions and law is as simple as your native language. Everything changes when you want to finish the deal.
Finally (thanks to Magdalena & Team) we saw about 15 apartments, most of them were newly developed, but we also visited few second-hand. I have to say, that Costa Blanca got very expensive last years. In the Internet one can find many offers below 100k EUR, but they're completely unattractive when seen live. If you want to buy something nice, you have to pay at least 160k EUR (+tax and costs, that is another 20k EUR). And it's still about 900m away from the beach.
And we even found something nice and probably rentable, but it turned out that you can earn maximum 10k EUR/year minus costs of maintenance and cleaning. After thinking it over I decided to drop this idea and move my prospective business somewhere else - investments in Spain don't seem to be attractive anymore.
And please find few pictures below:
1. View from the bungalow for 130k EUR (net):
2. Swimming pool in a bungalow for 130k EUR (net):
3. Swimming pool in the crappy apartment for 160k EUR (net):
Monday, September 1, 2008
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