yes for crying out loud dont do it . we have lost 40% on our property in the last 4 years and the prices are in freefall. also spanish law means you can never walk away from the mortgage . lastly from 2014 the canaries loses its tax free status so food petrol and taxes will jump by about 20% . so maybe not what you want to hear but take it from a resident rent only and after 2 years if your not climbing the walls from boredom the perhaps buy . and remember when you buy you pay 15% tax on a property strait away and when you sell it even if it is for a loss you then pay another 15% tax again . hope this helps x |
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