Low hassle Buy to let - Opinions Please

[wesrae]

Hello All,

I have an off plan property in Dubai which should be ready for sale in January, therby releasing a tidy profit (as it stands at the moment).

I am looking to buy an off plan investment and a BTL investment.

For the buy to let I am looking for something which ticks all the boxes. Is a fairly hassle free investment, stable economy, good rental yield etc etc. Capital growth is not the major factor although it should be in an area that has more chance of staying level or increasing slightly rather than decreasing.

After looking at lots and lots of websites, I like the look of an apartment in Athens or Istanbul. These places are not really covered much on this site, does anyone have an opinion on them. My thinking is that they have year round tourism with alot of locals also requiring rental property.

Also I would love to hear from people about their own suggestions.

Thanks

[andyk2]

Hi Wesrae,

Just a word to the wise. I've seen advertisements for properties in Istanbul that were so far from the city that the were practically in Bulgaria. Most Istanbul developments (and I don't know about Athens) pay 1½% commission to agents - which explains why you won't see them on here!

Remember that if you truely want city centre (and the yields that go with it) you will pay city centre prices! Don't be fooled by something that looks a good deal without checking it out thoroughly first.

Andy

[camel with three humps]

"I have an off plan property in Dubai which should be ready for sale in January, therby releasing a tidy profit (as it stands at the moment)".

Yes, your tidy profit is on paper. The whole place is full of empty & unsold properties. Please, where ever you go do not commit yourself to purchase until the sales proceeds are sitting in your Bank account.

Do not forget that you need to pay capital gains tax in uk.

[wesrae]

Hi,

I am in a fairly enviable position, I am an expat therefor do not pay CG Tax. Since the property is in Dubai I won't pay any tax at all.

I would agree there are many empty properties in Dubai, however I am closely linked to the market and my wife works in real estate sales. I am fairly confident that the market will hold out at least until Jan.

Fully agree on not commiting to a purchase until proceeds are in hand!

Come on guys I need your thoughts on locations for a stable BTL!!!!

[camel with three humps]

Yes, you are ok for your CGT status and in a comfortable position due to wife being in the real estate as appose to others whose falimy/partners are not.

A few thing you must understand on a buy to let is that there are not many countries where you will get mortgage and even one does not need a mortgage it is allways tax effecient to do so.

The countries that you mention and others in the med or Eastern Europe law/protection are very much in favour of the tenant and the Court system is painfully slow.

[Goldberg Global]

Hi the best things we have is in France.
Why? Freehold not leaseback.
3 year guaranteed rentals banked by insurance bond and French government.
After 3 years either another 3 year rental or 1 year rental if same client.
80% mortgage available.
Most visited country in the world
800.000 properties shortage.
Buy offplan.

We work across the world, and I have not found anything as safe and well leveraged. It is also our lowest paying commission product. So we are not in it just for money.