slovakia and slovenia

[rebecca1]

Hi
Have about £40k to invest on property abroad. I am interested in Slovakia or Slovenia. Has anyone got any advice for me.
Also is it worth buying outright or investing in a few properties and getting a morgage?
What are your opinions on investing here ? and do you think I should be investing in a diffirent country all together.
Any advice would be appriciated.

 

[Investy]

Hi
Have about £40k to invest on property abroad. I am interested in Slovakia or Slovenia. Has anyone got any advice for me.
Also is it worth buying outright or investing in a few properties and getting a morgage?
What are your opinions on investing here ? and do you think I should be investing in a diffirent country all together.
Any advice would be appriciated.

Hello Rebecca, I dont want to sound like Im some kind of expert but as well as the other places Ive invested I came very close to doing a deal in Slovenia and indeed one of my best freinds has just invested £30000 in a syndicate in the secondary ski area on the Italian border.

Slovenia for me is one of the best bets around primarily because I get a sence of an advanced nation (like Austria) in the making as the people are known for thier honesty and civilised culture (unlike Bulgaria say).

I think Id be inclined to check out the secondary ski area as this will provide best growth if that area becomes popular and the rumuored infrastructure goes in.

My freind expects 10 weeks rent per year - a bit low for my tastes. He and 9 others are investing in an old block of flats which they are having renovated.

I found a house for £17000 near the Italian border in the most amazing setting - but I didnt go for it as it had no road to it (common over there).

I found a Slovena website for people just like you quite helpful - I think its called 'sloveniaforfamilies' - ???

As ever its all about finding the right location.

ALWAYS KEEP THIS IN MIND - YOU can buy property for £30000 in N Wales, so to buy in Slovenia and make it worthwhile you must seek the up and comming areas and avoid those that will forever remain cheap.

 

[rebecca1]

thank you for the tips

 

[aaron]

Hi,
I aksed a similar question a while back here and on some other forums. I went against some of the more popular advice given to invest in really emerging markets (Morocco, Turkey etc) and decided that Spain fitted my criteria best. (Costa Blanca near Denia). I have nearly finalised with a development that is advertising on this website: Serena Court - El Vergel. If all goes according to plan with the finance then I should be able to complete the purchase with only a 3k Euro deposit.

My advice would be to definately spread your investment as much as possible as there are so many good opportunities out there. Definately do a lot of research on these websites and forums - you will find a lot of experienced investors, developers and agents waiting to address your queries.

Good luck with whatever you decide,
A

 

[rebecca1]

thanks A for the responce, I think I now have a lot research to do. I am still concerned about getting a morgage due to the rise in current interest rates.
Rebecca

 

[aaron]

I am still concerned about getting a morgage due to the rise in current interest rates.
Rebecca

Hi Rebecca. That is one of the main reasons that I have gone with this deal as the interest rates in Spain are still low. I have been assured that I should get around 4.25% with help from the developers.
A

 

[Investy]

A word of caution on mortgages abroad - they can be very difficult to obtain. Most lenders want 40% of your take home pay to cover all your debts including your new Spannish mortgage.

I speak to lots of people who have made no money in Spain in the last 2 years indeed many have sold for less than paid because there is such huge supply of property.
Renting means you will be againsts lots of compettition in Spain.

I imagine its still possible to make money in Spain, its just to overdone for my tastes.

Dont forget in Morocco the biggest development (where Im buying) is by Fadesa who are Spains second biggest developer - so the risk is no higher than Spain yet the upside is of course considerably greater.

 

[brincason]

Slovenia

Hi Rebecca. I bought a property in Slovenia in Spring last year. It is in the Goricko Park which is a popular holiday destination for many Europeans. I paid £78K for it and it has 3 bedrooms and sleeps 6-8 comfortably. I specifically wanted to run the house as a business and so far it has been successful. Last year I had 10 weeks rental in the summer at an average of £430 per week and 3 days over New Year for £360. I have also stayed there quite a few times myself. Running costs are well under £100 per month all-in.

If you are still interested in buying there I would recommend the agency I used. They are called Slovenian Houses. Regards, Ian

 

[DC]

Italy in my mind is a better option

I hear Slovania was done about 3 years ago. Southern Italy, good rental returns, low costs flights, low cost real estate. We have contacts here, and can property manage too. Best place in my opinion in europe to invest for single or double, triple unit buyers. Finance from major banks etc.

 

[DC]

Example above 78k Sloviania 3 bed

Ok, ski italy, 55k sterling 3 bed chalet. Is 23k cheaper so around 50% cheaper and yields are probably higher too. Closer and cheaper to get too.

 

[DC]

Vergel investment by Aaron

I would advise agains this, I went to see site, is 15km from where I live, for another client, the best units are sold, it is 500m from the local prison, there is no beach, it is on the main road, there is plot next door which will be built, causes less light and alot of dust, the rental yield will not be high, locals will buy over renting, all expats are subject to 25% tax on income earned in Spain, limited resale market, interest rates on the way up in europe, along same road alot more apartments being built.
Upside is quite cheap (you get what you pay for),has pool on roof, more maintenance charges. Is it holiday place, no as not near beach, 4km, need a car, is there parking? is it permanent living place, people prefer to buy than rent. The advert says 650 per month rental. I am fairly sure unless you got someone with money to burn you will get 400 to 500, then remember tax so to cover mortgage you need 800 to 900, then fees to run place, it is no way Jose.
The agent selling is from Essex. Do we need to say any more. An essex company selling in Costa Blanca. If I wanted to buy a house or apartment in Essex do I speak to my local Valencia real estate agent. No, I speak to people in Essex. My point being speak to locals. On a small development, there is alot of unsold units, and they have been selling for 3 years! and they are near to finish.

Think global, work with locals, people whom can give you good deals. This is my opinion, for what it is worth. I have been there, and could not hand on heart ask anyone to invest there, because I personally dont think it is any good. Nice ok quality and has pool, but location, the numbers dont add up, the units still for sale, the road, the town it is in. Does not tick hardly any boxes. Hey it is cheap, it is cheap and is not selling as people dont want it. I hope Aaron gets a good renter or achieves his goal, as seems a good guy.

Hi,
I aksed a similar question a while back here and on some other forums. I went against some of the more popular advice given to invest in really emerging markets (Morocco, Turkey etc) and decided that Spain fitted my criteria best. (Costa Blanca near Denia). I have nearly finalised with a development that is advertising on this website: Serena Court - El Vergel. If all goes according to plan with the finance then I should be able to complete the purchase with only a 3k Euro deposit.

My advice would be to definately spread your investment as much as possible as there are so many good opportunities out there. Definately do a lot of research on these websites and forums - you will find a lot of experienced investors, developers and agents waiting to address your queries.

Good luck with whatever you decide,
A