I have been thinking about buying property in Europe for sometime. Now that the euro is becoming weaker I'm more into the idea. Where would you recommend I buy? For investment purposes and maybe summers or winters use.
I have been a real estate investor in the US, Europe, Latin America and Africa for many years. The first thing you learn in any new market is that education costs. Thats a cynical shorthand to explain how the first investment in a new market is usually not successful. Real Estate Laws and practices vary by country and are different from the US. Many countries lack title insurance. Few countries are what are known as record title jurisdictions. And leaving a property empty 9 months a year is a recipe for trouble.
If you want to speculate on the Euro, you can buy Euros or a Euro Contract or an ETF or open a bank account.
If you want a getaway in Europe, just buy something you can afford in a place you like. Plan to hold it for a long time. Budget at least 10% of the property value for upkeep, management, repairs and the like.
Good luck. Please feel free to get in touch if you would like to discuss this further.
Answered 9 years ago
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