TO SELL OR NOT TO SELL PORTUGAL PROPERTY

warmblood · 27-01-2009 11:41pm #1

Hi all
We bought a studio apartment and closed sale in summer in Portugal.It is in a mixed villa and apt style complex with small shops and hotel and sport facilities incl 18hole golf course.It has 5% guaranteed yield for 3 yrs .Due to financial crisis in property should we sell or sit tight.Im on interest only mortgage for 3yrs so capital will have to be paid after that.Any thoughts or advice please

johnp · 27-01-2009 11:54pm

Bargain alert? Hmmm, how much did you buy for, and what are you willing to sell for?

But seriously, whats the market like? Are there buyers? Are other apts selling?

warmblood · 28-01-2009 12:00am

not advisable to go into prices on this thread just any thoughts or advice from persons in similar position

Santa Claus · 28-01-2009 12:11am

How is this a Bargain Alert ??

warmblood · 28-01-2009 12:14am

placed in wrong thread group how can u transfer it to property thread

SoldierForce · 28-01-2009 12:24am

not advisable to ask for advice without telling the price or at least the locality. Prices range throughout the country some places it's worth holding on like where the new airport is coming up. Other places better to sell off as it's saturated and no one wants to stay there.

warmblood · 28-01-2009 12:28am

thanks for reply

SoldierForce · 28-01-2009 12:30am

also if you plan to sell then wait a bit for the warm months...

pocketdooz · 28-01-2009 8:15am

I have a feeling you're talking about Campo Real ?

If I were you I would hold it. I don't see the point in selling now anyway. You will likely make a loss and even more so after fees / solicitor charges / taxes etc.

A guaranteed 5% yield for 3 years is pretty sweet in this environment to be honest.

.

warmblood · 28-01-2009 11:19pm

Thanks for your reply property is not far from new proposed airport to be completed 2011 it is a chance that economy doesnt contract too much

TO SELL OR NOT TO SELL PORTUGAL PROPERTY

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