“Kathleen and Lief, thank you. I’ve found over the years your e-mails to be factual and valid. When I see your name, I read it, because I’ve learned to respect what you say. I’m experiencing what you’ve said now in Colombia.”
–Ray S., Colombia
“Kathleen, so, is your recent update a recommendation to buy in Spain? How are the HOA fees handled, when only one, two, or three people live in a whole development? What do people do there by themselves? Are stores closing at alarming rates as well? In other words, what are the caveats of doing something now?”
–Don L., United States
I don’t know if our recent report on this part of the world is a recommendation as much as a status on the current market. Certainly, you’ll want to do your due diligence, and your question about HOA fees and building or development maintenance in this very down cycle is a good one.
All that said, if you like the Spanish coast and want to own there simply because you want to own there, not because you think you might make money owning there, then, yes, this could be the time to be shopping. My main recommendation would be to avoid areas that are awash in cookie-cutter condos. Look for more unique properties with charm and some intrinsic value. These likely will hold value better long-term. And, of course, front line to the sea is always best.
Continue Reading: 10 Reasons Why The Algarve Is Our #1 Retire Overseas Option