Huge Opportunities for Investors

[Peter Mitry]

I am talking here not of the 'get rich quick' guys who flocked to the Spanish Costas until about three years ago; most of those are now licking their wounds.
I am referring instead to the canny investor who buys property when the market is on its back and is prepared to wait for a recovery.
In Spain right now there are many stretched investors who took on multiple mortgages when interest rates were low. With the rising rates since the worldwide credit squeeze many people are now in serious difficulties and desperately need to sell.
Others have found the rising cost of living in Spain has rendered living here on a static or falling pension is now untenable and again are attempting to sell properties at substantially below market value.
If you recognize either of these scenarios we may be able to help. We have a growing database of BMV properties in Spain many of which are 40% or more below current true bank valuations.
If you are an Investor looking for a good deal or an Owner looking for a way out then please contact us. We can arrange interest only mortgages for qualifying clients and we take care of all of the issues during purchase.
The three bedroom, two bathroom second line beach penthouse attached is a good example. Bank Valuation 260,000€. Sold by us last week for 170,000€.

[Breyer]

Spain is not the place to be right now -- and I think you know it. In declining markets it is always best to wait until the market hits bottom and starts to climb before reinvesting. The USA, Spain and the UK do not provide good investment options at present. Between 6 months and a year that might very well change.

[Peter Mitry]

You are absolutely right but I believe that certain types of property in some areas have already hit rock bottom and the number of enquiries we are receiving support this. I have concentrated my activities elsewhere for at least the last two years but having been contacted by a repossessions specialist in the UK enquiring about Spanish markets we have found that there is considerable interest in this type of property.

[Breyer]

Where are you concentrating at the current time?

[Peter Mitry]

The signatures give it away a little bit - Egypt & Brazil.

[Breyer]

I think that Egypt is too unstable -- what do you think of North Cyprus?

[Peter Mitry]

Unless you understand the politics it is too much of a worry. I was in Cyprus in July and in the South the property seized by the Greeks when the Turkish families fled to the North have been let by the government but not sold so that when there is a resolution they will just be handed back. Not so in the North; the land and the properties have been sold and I can see some intense infighting over title in the future.

[Eurovivienda2005]

It is a good time to buy in Spain because the sells are getting down,and the prices too,the constructors and promotors have to pay to the banks and they do not have money to pay.That´s why the prices...
Development Off plan in Murcia:
2 bedrooms flat,bathroom and toilet 110.000€
3 bedrooms flat ground floor with terraces 125.000€
2 bedrooms pareados 140.000€
2 bedrooms villa 160.000€
3 bedrooms villas 190.000€
Individual swimming pool 8.000€
Reserve 500€
80% Mortgage
Completion 2009
5.000€ after six months of signed private contract.
Fore more details eurovivienda2005@yahoo.es

[Eurovivienda2005]

Actually the best invest in Spain is warehouses,local business,lands...
The businessman are closing their business and they sell their properties with low prices that´s why it is a good invest.I have for sell some of this,if someone is interested just contact me at eurovivienda2005@gmail.com

[Aegean]

Originally Posted by Peter Mitry

Unless you understand the politics it is too much of a worry. I was in Cyprus in July and in the South the property seized by the Greeks when the Turkish families fled to the North have been let by the government but not sold so that when there is a resolution they will just be handed back. Not so in the North; the land and the properties have been sold and I can see some intense infighting over title in the future.

Don't think you have the true story regarding Turkish Cypriot property - lots have been built biggest example is Larnaca Airport.

Regarding North Cyprus (TRNC) title is an issue but what know is - They now have Property Commission that Greek Cypriots are claiming against and if they don't the Turkish Government have clearly indicated that they will meet any claims in the future.

However, there will not be any settlement in the near future so many investors buy and sit back taking the capital returns year on year. Prices have go up by over 100% over last 3 years.