Cheap Cortijos in Spain - Cheap Cortijos, Townhouses, Villas, Fincas, Cortijos.
Cheap Cortijos
Cheap cortijos are not as easy to find as they used to be in Spain, but that
doesn't mean it is no longer possible to pick up a bargain. Take a look at
the cheap cortijos listed on our Search
facility and you will see a great range of cheap Spanish cortijos,
quite often in places you wouldn't expect, or where you may have been led
to believe by other agents that prices are now unaffordable.
Lemon Tree Villas features cheap Spanish property cortijos located all over
Spain - simply browse our property
database by price, location or cheap property type and see just how many
cheap cortijos are still available.
While buy-to-let investment in the UK is finally dwindling after ten years
of success, wise investors are continuing to look overseas for the next pot
of gold. Buying abroad is easier than ever for Brits, with the strong pound
and soaring UK house prices making it increasingly affordable.
Many buyers hope to help cover the costs by renting out their property to
holidaymakers or locals, with a buy-to-let mortgage.
While over-development has cooled in more established markets such as Spain's
Costa del Sol, investment in less saturated Spanish markets like Murcia, Galicia
and Ayamonte are becoming increasingly lucrative for buy-to-letters. Experts
have also tipped the likes of Cape Verde, Brazil and the Western Algarve in
Portugal to become property hotspots in the coming years. Bear in mind however
that property markets can be fickle and exotic locations are prone to going
in and out of fashion. Bulgaria is a typical example of this, according to
the latest figures.
One of the most straightforward ways to buy abroad is to raise the cash against
your property in the UK. If that isn't possible, a number of UK lenders will
offer you mortgages. If buying in the euro zone, you could get lower rates
by going to the overseas lending arm of a UK bank.
Regarding taxes, rental income may be taxed locally. Some countries charge
a wealth tax simply for owning a property, while most charge capital gains
tax on any profit when you sell. UK residents may also face UK income tax
on any rental earnings, plus capital gains tax. The UK has a double taxation
treaty with a host of countries, which means you shouldn't have to pay tax
twice but this is a complex area and you will need specialist advice.
Before you shell out for your bargain property make sure you have some spare
cash set aside for estate agency and legal costs and local taxes. Never try
to cut corners on legal costs and make sure that you find an established lawyer
who can speak fluently in your language. Lawyers can charge between 3 and
10 per cent, depending on location. You must also budget for insurance, maintenance,
property management fees, service charges and tax.
Common sense dictates that an attractive, family-sized property near a beach,
golf course and local amenities will produce better yields than a one-bed
rundown squat 30km from the nearest shop. A local airport is a must if you
are renting to foreigners and proximity to a golf course will extend rental
periods into the winter months. Consider carefully how you will find your
tenants. Many investors use a local holiday lettings or management agency,
which advertise for tourists and handle the bookings. This will cost at least
15 to 20 per cent of any rental income although you can offset some of these
costs against tax. Renting out to locals is an easy option depending on your
property type, as these tenants will usually stay for longer periods.
A little common sense goes a long way when buying. Do plenty of research to
make sure you stay ahead of the game and have a clear idea of what you want
and how much you want to spend before you begin your property hunt. If you
are buying with the sole purpose of letting, clear thinking can save you a
lot of money.
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