Buy houses in Europe became unprofitable

18.12.2013 01:00
Articles about real estate | Buy houses in Europe became unprofitable Buying property abroad, especially in European countries, more recently, has been one of the leading trends in the housing market. First overseas buying apartments and houses units , then the bill went to the hundreds and now thousands of Russians tend to buy even a small , but European living space . Today, however, such a purchase can leave the buyer side , especially if it is for investment purposes. The fact that the European real estate market , as, indeed , the economy in general is in a recession and that is really there to hide crisis.

Except in the list of countries which invest in real estate is risky , if not dangerous, not even become popular among affluent Russians UK. As " free press ", the Bank of England recently announced the termination of the program Help-to-buy (« Help in buying "), which was designed to aid in the acquisition of local homes valued up to 600 thousand pounds.

Such a decision by the Bank of England provoked a surge in home prices , as well as forced bankers to talk about raising rates on loans , including mortgages . Given that today the total debt to banks of all the subjects of the British crown is 94 percent of GDP , all these factors together can significantly affect the decision of officials to intervene in the real estate market , as it should be " chill ." As a result, those who invested in housing, simply lose their money .

Time in the UK is doing , to put it mildly , not very good, it is easy to assume that other, more troubled countries , much worse . In Spain, for example , authorities are looking for funds to replenish the budget, does not hesitate to resort to such measures , even as increased fees for upkeep and maintenance of housing. Of course, the foreign owners of Spanish property to replenish the coffers of someone else is not very desirable , and therefore avoiding such payments is now becoming really threatening. As a result of a debt for utility services in the amount of about 12 million euros.

In addition , owners of Spanish property are generally not invest a lot of money for its maintenance , but because potential buyers today are persistently ask to further invest in , not counting the cost of its purchase.

In addition to these problems with sticks in the wheels in wanting to buy a small villa in Spain can be measures to combat criminal capital , which is actively laundered in the country. For example, today it is imperative that local authorities to explain the origin of the funds which acquired property worth more than 10,000 euros.

All these factors together , experts say , lead to the fact that the price of Spanish real estate will fall at least until 2015, and it is unknown whether the situation will stabilize in the near future if time.

Similar problems are observed in the Baltic countries , Russia favorite homebuyers that the load to the house or apartment you can get a residence permit and, accordingly, in addition Schengen . After Latvia , Lithuania and Estonia joined the European Union , many local residents are moving to other European countries , sbyvaya their homes for next to nothing . As a result of oversupply led to a depreciation of the real estate , and therefore resell it to their advantage in the near future is unlikely to succeed . But for those who buy homes for residency and other benefits , the situation is very favorable.

Bulgaria , famous for its low-cost housing also conceals enough pitfalls for buyers . For example, many of the objects offered for sale , legally may have the status of collateral property . At the same time check the legal purity purchased many square feet do not bother , and the responsibilities of local notaries such a procedure when registering the transaction is not included. In addition , experts say , the quality of construction in Bulgaria is poor , which means that a lot of the resale of the property will not be able to help out .

However , Bulgarian properties already ceased to be a profitable investment , as prices tend to it down pretty decent speed .
Content tags: Overseas property
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