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Started By
Message
European real estate
Posted on 4/20/15 at 10:36 am
Posted on 4/20/15 at 10:36 am
I started researching this about a year ago when I became aware of Portugal's Golden Residence program, whereby you can get a pathway to EU citizenship via Portuguese residency if you buy E500K of real estate.
My goal was to create a generational investment asset with high use along the way.
My digging around has convinced me that Portugal is probably not a great place to take real estate investment risk, despite prices that are still fairly "low". I've instead, turned my eyes towards Southern France or Northern Italy, both of which have the following traits:
1.They are places that people will want to be now, 25 years from now and probably 100 years from now.
2.Prices are still way off their bubble peaks
3.(Particularly in the case of France) they are stable and have surprisingly amenable bureaucracies for foreign investors.
4.Surprisingly good leverage (purchase finance) is attainable.
Does anybody on the board have any experience in these geographies? Any warnings/recommendations?
I thought it was an attractive idea a year ago, and now with the Euro caving, it's effectively the same proposition except with a 25% discount on top of it!
My goal was to create a generational investment asset with high use along the way.
My digging around has convinced me that Portugal is probably not a great place to take real estate investment risk, despite prices that are still fairly "low". I've instead, turned my eyes towards Southern France or Northern Italy, both of which have the following traits:
1.They are places that people will want to be now, 25 years from now and probably 100 years from now.
2.Prices are still way off their bubble peaks
3.(Particularly in the case of France) they are stable and have surprisingly amenable bureaucracies for foreign investors.
4.Surprisingly good leverage (purchase finance) is attainable.
Does anybody on the board have any experience in these geographies? Any warnings/recommendations?
I thought it was an attractive idea a year ago, and now with the Euro caving, it's effectively the same proposition except with a 25% discount on top of it!
3
Posted on 4/20/15 at 10:48 am to Big Scrub TX
Bookmarked*
Posted on 4/20/15 at 10:58 am to Penn
For what purpose?
Posted on 4/20/15 at 10:59 am to Penn
As much as I love Italy, I'd pick France in terms of long term stability. The Italian economy is more black & gray than legitimate, and the justice system is a joke.
Posted on 4/20/15 at 11:10 am to hungryone
quote:
As much as I love Italy, I'd pick France in terms of long term stability. The Italian economy is more black & gray than legitimate, and the justice system is a joke.
That's where I think I am too. Cote d'Azur (if you go 10-20km inland) is a great value (probably 25-35% off the bubble peak). It's a place people will always want to be.
Posted on 4/20/15 at 11:18 am to Big Scrub TX
quote:
Cote d'Azur (if you go 10-20km inland) is a great value (probably 25-35% off the bubble peak).
Sure, doesn't everyone's dream of southern France look like the Luberon? Olives, grapes...what's not to like? It can be dry as hell, though, and completely overrun with the English. So I'd be looking at water rights/access to water if buying rural property.
Have you considered the Dordogne? Lovely scenery along the Garonne or Vezere, lots of water, not too far from the coast/Bordeaux (plenty of EasyJet service to Bordeaux airport), an easy train ride to Marseilles. But not the hot/dry/overtouristed Provence or Luberon.
Posted on 4/20/15 at 11:31 am to hungryone
quote:
So I'd be looking at water rights/access to water if buying rural property.
Excellent point. I've been advised to pay close attention to utility bills at any prospective properties.
quote:
Have you considered the Dordogne? Lovely scenery along the Garonne or Vezere, lots of water, not too far from the coast/Bordeaux (plenty of EasyJet service to Bordeaux airport), an easy train ride to Marseilles. But not the hot/dry/overtouristed Provence or Luberon.
I haven't. I'm more focused on that southeastern location. I know plenty of awesome areas, though. Do you own somewhere?
Posted on 4/20/15 at 11:39 am to Big Scrub TX
What are you looking to do with the land, and how strictly is land use regulated? I wonder if they won't take too kindly to American investors just running over there to buy up land, and may make it very difficult for permits, etc.
Posted on 4/20/15 at 11:48 am to Big Scrub TX
No, I don't own any property outside the U.S. Would rather rent than own, don't want the maintenance and other headaches that come with absentee ownership. Also don't like returning to the same place year after year.....
Posted on 4/20/15 at 11:56 am to LSUJuice
quote:
What are you looking to do with the land, and how strictly is land use regulated?
Looking to buy a completed residential property, hopefully on a decent-sized plot. Definitely not looking to do development work in a foreign country.
Posted on 4/20/15 at 11:58 am to hungryone
quote:
Also don't like returning to the same place year after year.....
I hear you there. I was thinking it would be a good pad for sabbatical and/or retirement. It's also why I like the southeast of France - driving distance to many other quality locations, so a good jumping-off point for tourism....sort of 6 hours to Barcelona, 6 hours to Rome.
Posted on 4/20/15 at 12:08 pm to Big Scrub TX
I'd look into Nicaragua. It will be the next Panama IMO.
Posted on 4/20/15 at 12:16 pm to I Love Bama
quote:
I'd look into Nicaragua.
Know of any good resources?
Posted on 4/20/15 at 12:52 pm to Big Scrub TX
I loved going to Hyere's and spent quite a bit of time there.
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