Good content! Although I don't agree with everything. Working in tech, I know that most Silicon Valley companies are moving their EMEA HQs from London to Amsterdam, Berlin, Paris and Barcelona, which is rapidly becoming a new tech hub. So Brexit helps the city grow and attract "high earners", and the low birthrate is being more than compensated. I will get the same salary there as I did in London, while most things are half price compared to here. Looking forward to a video why not to invest in the UK :D
Below are links to other real estate videos ruclips.net/video/TiNrU5HFyDs/видео.html (Montenegro) ruclips.net/video/kRrUaEO7EVE/видео.html (Paris) ruclips.net/video/GjOLeibL2R4/видео.html (Cambodia) ruclips.net/video/GK7VLerO7yU/видео.html (Hong Kong) ruclips.net/video/XRR0jL42mfM/видео.html (Estonia) ruclips.net/video/d8G8TeOK_VA/видео.html (New York)
Investing in Barcelona real estate can be highly profitable, but buying a property to let isn't going to give you a very good return on investment. Most properties don't "pencil out" in terms of ROI. And, if you are thinking of buying something as an AirBnb, you better re-think your strategy. However, if one is interested in "flipping" or rehabbing properties, there are plenty of great opportunities. Despite what real estate agents will tell you, the market is currently in a fairly big slump...especially since Brexit, as people from the UK are not able to stay year-round. The Spanish government (as well as many other Schengen countries) should have taken this into consideration and adopted laws allowing people from the UK to stay as long as they own property. By not allowing this, many people were and are being forced to sell off...often at fire sale prices. This has subsequently hurt the Spanish economy...although many will claim that not to be the case out of "national pride" or ignorance of how economies actually work. That said, there are bargains to be had and if you ever wanted to buy in one of Europe's best cities, this is a good time to take advantage of the "low" prices. Barcelona is a major international destination and will remain so for a very long time. Also, in terms of taxation. Yes, it's a 10% hit upfront for transfer taxes which really does suck. But, a capital gains tax of between 19-21 percent isn't particularly bad considering almost every stable western country has similar tax laws.
As far as I am concerned, I do agree it is quite a burden to invest in properties in Barcelona area. However, finally there's a city that does take care of the hard working middle class and provides stability for its citizens. The rental prices are still very high in comparison to the average salary that is in the region either way, I believe the government needs to control it and limit the landlords in a way. I beg to disagree on the tourist side - not sure what you wanted to highlight there. It's not majorly increasing but also cannot increase due to the city not being able to hold on more people in its city limits. You have to also understand that by the city limits (and where people eventually do stay during they trips) the city of Barcelona is very small. It's mainly suburbs with joint infrastructure where locals live, however tourists concentrate only in the Barcelona city limits and surrounding coastal area that cannot hold on more people. (note troubles to book hotels in peak periods,etc.) 100% agree on the crime problem that has been increasing YoY and should be immediately tackeled.
Hi K Bolk thank you for your feedback. I have already made a video on Tbilisi and a number of other places. Here is the link ruclips.net/video/0a9s_EuTnog/видео.html
I totally agree with the petty criminal aspect. I went for one day, left my bag at my feet under the table when I was having a coffe. My partner was sitting next to me. I left for less than one minute to go and get a spoon from the serving trolley for customers. Our backs were against a small wall , secure I felt knowing this in advance. On my return the bag was taken. Moments before I had taken my wallet and glasses out. But placed my new leather jacket inside as temp increased. It was gone. My partner said no one came near the table. They are clever. Because to this day we were gobsmacked in less than a minute, it was taken. I left sad that day and haven't returned since. I prefer Bilbao where my partner is from. But it destroys faith ina City. If Berlin can tackle this problem the authorities will need to tackle this, but organized crime such as bag theft brings in millions. I feel the police have a hand in this operation. Period. Good video, makes you think twice about buying in Spain. I've watched your videos about Italy and took notes, and still feel thats where I shall end up someday soon.
Thank you so much for your feedback. It makes me very angry when I read these things happening in a so-called developed city. I also came very near to being pick pocketed in Barcelona so this is not uncommon. I wish the authorities there would do something about it.
@@saveandinvestwithgiorgiolo8375 did you forget to mention that non EU property owners cannot deduct any operating a Or maintenance expenses if they rent out a property?
@@patrickbailey1249 I have mentioned this on a video do not buy property in Spain as an investment. I believe you can still deduct if you are from an EEA country e.g., Norway or Switzerland. If you are not from these areas not only, can you not deduct operating or operating expenses but you pay 24% tax instead of 19%.
Thank you Giorgio. Brilliant video rundown. I've been looking for someone to slap some negatives in my face after feeling quite positive about Barcelona for buy to let. I knew about the taxes, tenant laws, squatters and political issues, but one thing that's confusing me is the average price per m2; idealista quotes less than 2000 per m2, and I'm seeing possible refurb projects for 1 to 1.5k per m2 at the moment in central locations. I ran some numbers and a refurb project proved promising. I'm a beginner, so just wanted to ask: Am I missing something? Thanks for the video again!
Hi Charlie many thanks for your feedback. I am glad to have been of help. Unfortunately the average price per sq metre in central locations would be well over 2000 Euros. You would be looking at a range of 3500-4500 although with Co-Vid 19 you might now get something a bit lower. I will go through Idealista tonight. Thanks again
@@saveandinvestwithgiorgiolo8375 Brilliant Giorgio, thanks. Such a quick reply. I've also been searching milanuncios and searching for options more than 80m2 for under 100k. If they're real (and that's another big question) I'm feeling confident I could put the work into them for under 20k, possibly add an extra bedroom on the bigger ones, and bring their value up substantially. I'd love to know what you think. (By the way, liked and subscribed)
Another great video thanks, but I have to correct you on the cost of the tourism licence as it's actually free , at least here in Murcia, they actively encourage it so they can tax the hell out of you once you are in the system
Hi! I'm real estate agent in Barcelona and yes there are problems in Barcelona but you make it much much bigger !!!! There are a lot of people which are making a lot of money in Barcelona !! SOO, If you need help just take an expert to help you! And please when you talk about numbers be real !!!
Hi Emanuela my numbers are based on extensive research and is of somebody who has no vested interest in selling property in the city unlike yourself i.e. my views are impartial. If you are looking to buy as a lifestyle purchase that is fine but the authorities in Barcelona do not like landlords. I did also say Barcelona is a beautiful city.
The issue with the Catalonia region is that it remains very socialist and becoming less business friendly compared to say Madrid or the Basque Country for instance. Barcelona has a serious issue with the so called "okupas" (occupants) - who are the illegal tenants that install themselves in your own property and refuse to pay afterward. The law in regional Catalonia makes it hard to kick out the person unless you have good proofs and favours the tenant in that case. A huge majority of the properties are extremely overrated especially in the "Barcelonés" area which is the proper town itself. If you are looking to rent, you will have to show so much papers such as last 3 payslips, pay 3-6 months of rent in advance, the fee for the agency, the annual fee for garbage in some places. There is an additional tax called IBI that directly goes to the regional government. Many neighbourhoods are quite noisy and finding some peace of mind is close to impossible. Not to mention the increasing crime rates, quite ageing population. The real-estate business is owned by 3-5 companies that dominate the whole market. Even locals themselves are fleeing outside of the city itself. Finally, the region's atmosphere has changed quite a lot during the last 5 years or so, with all this separatist movements, the mayor's deeply socialist model and the increasing debt which is due to the financing of the separatist movements and extremely expensive mansions in Brussels to begin with. Sadly, Barcelona is losing its shine.
Thank you Lima for such an in depth analysis. It is really sad to see this happening in particular the crime rates. I saw an attempted mugging of tourists when I was last there. and two of my ex colleagues fell victim to pickpockets whilst there on weekend breaks. Shame because Barcelona is a beautiful city and with the combination of the sea should be a paradise place to live
Good content!! Spain is a communist dictatorship. Cataluña and Balearics Islands more....The best investment in Spain, is to leave the country as soon as possible. Portugal, Croatia, Slovenia, Check republic....offer much more investment opportunities, more quality of life and are safer. Would be good to make a video about Slovenia, the hidden paradise in Europe. Thank you Georgio!!
Thanks Alfredo for this feedback as well. It is a real shame but the videos I made on Barcelona and Mallorca are possibly the two of the worst property markets in Spain to invest in. I think there are areas in Spain which are better but my worry is Podemos getting their way and therefore higher property taxes and being unable to evict a tenant under any circumstances.
@@saveandinvestwithgiorgiolo8375 For Thailand, my personal advice is no. for some reasons 1. The Thailand Law design is not friendly for foreigners investors. The local Thai citizens can buy a property ( condo and villa ) with very cheap price when for foreigners, it cost much more. When you, as a foreigner, would like to sell, you will find your selling price isn't competitive. 2. Over supply than demand. ( too many Chinese investors in the past few years.) There are more. I was thinking about Thailand before but give up that idea after research.
Good content! Although I don't agree with everything. Working in tech, I know that most Silicon Valley companies are moving their EMEA HQs from London to Amsterdam, Berlin, Paris and Barcelona, which is rapidly becoming a new tech hub. So Brexit helps the city grow and attract "high earners", and the low birthrate is being more than compensated. I will get the same salary there as I did in London, while most things are half price compared to here. Looking forward to a video why not to invest in the UK :D
Many thanks for your feedback Nino. Always happy to have somebody disagree with me with valid arguments.
Below are links to other real estate videos
ruclips.net/video/TiNrU5HFyDs/видео.html (Montenegro)
ruclips.net/video/kRrUaEO7EVE/видео.html (Paris)
ruclips.net/video/GjOLeibL2R4/видео.html (Cambodia)
ruclips.net/video/GK7VLerO7yU/видео.html (Hong Kong)
ruclips.net/video/XRR0jL42mfM/видео.html (Estonia)
ruclips.net/video/d8G8TeOK_VA/видео.html (New York)
Investing in Barcelona real estate can be highly profitable, but buying a property to let isn't going to give you a very good return on investment. Most properties don't "pencil out" in terms of ROI. And, if you are thinking of buying something as an AirBnb, you better re-think your strategy. However, if one is interested in "flipping" or rehabbing properties, there are plenty of great opportunities. Despite what real estate agents will tell you, the market is currently in a fairly big slump...especially since Brexit, as people from the UK are not able to stay year-round. The Spanish government (as well as many other Schengen countries) should have taken this into consideration and adopted laws allowing people from the UK to stay as long as they own property. By not allowing this, many people were and are being forced to sell off...often at fire sale prices. This has subsequently hurt the Spanish economy...although many will claim that not to be the case out of "national pride" or ignorance of how economies actually work. That said, there are bargains to be had and if you ever wanted to buy in one of Europe's best cities, this is a good time to take advantage of the "low" prices. Barcelona is a major international destination and will remain so for a very long time. Also, in terms of taxation. Yes, it's a 10% hit upfront for transfer taxes which really does suck. But, a capital gains tax of between 19-21 percent isn't particularly bad considering almost every stable western country has similar tax laws.
Thank you so much for your feedback USAinCrisis (like the name). I certainly agree 100% on the Brexit issue
Just crushed my dreams and future 😩😩😩 bitter pill 💊! But super thankful for the advice
Any advice on where to buy in Spain or near???
No problem Billy
Billy will do other areas in Spain but places like Alicante and Murcia are better places to invest
@@saveandinvestwithgiorgiolo8375 gracias 🙏🏽
@@ballenonlocation De nada
What a wake up call. Thank you.
Many thanks
As far as I am concerned, I do agree it is quite a burden to invest in properties in Barcelona area. However, finally there's a city that does take care of the hard working middle class and provides stability for its citizens. The rental prices are still very high in comparison to the average salary that is in the region either way, I believe the government needs to control it and limit the landlords in a way. I beg to disagree on the tourist side - not sure what you wanted to highlight there. It's not majorly increasing but also cannot increase due to the city not being able to hold on more people in its city limits. You have to also understand that by the city limits (and where people eventually do stay during they trips) the city of Barcelona is very small. It's mainly suburbs with joint infrastructure where locals live, however tourists concentrate only in the Barcelona city limits and surrounding coastal area that cannot hold on more people. (note troubles to book hotels in peak periods,etc.) 100% agree on the crime problem that has been increasing YoY and should be immediately tackeled.
Thank you for your feedback. The authorities in Barcelona want to ban short term holiday lets up to 30 days thereby in effect ending Airbnb.
You are brilliant! Thanks for being an honest man ina crazy world!
My pleaure.
Thank you Georgio! Excellent content! Could you make a similar video on Tbilisi, Georgia? Is it a good property investment market?
Hi K Bolk thank you for your feedback. I have already made a video on Tbilisi and a number of other places. Here is the link ruclips.net/video/0a9s_EuTnog/видео.html
I totally agree with the petty criminal aspect. I went for one day, left my bag at my feet under the table when I was having a coffe. My partner was sitting next to me. I left for less than one minute to go and get a spoon from the serving trolley for customers. Our backs were against a small wall , secure I felt knowing this in advance. On my return the bag was taken. Moments before I had taken my wallet and glasses out. But placed my new leather jacket inside as temp increased. It was gone. My partner said no one came near the table. They are clever. Because to this day we were gobsmacked in less than a minute, it was taken. I left sad that day and haven't returned since. I prefer Bilbao where my partner is from. But it destroys faith ina City. If Berlin can tackle this problem the authorities will need to tackle this, but organized crime such as bag theft brings in millions. I feel the police have a hand in this operation. Period. Good video, makes you think twice about buying in Spain. I've watched your videos about Italy and took notes, and still feel thats where I shall end up someday soon.
Thank you so much for your feedback. It makes me very angry when I read these things happening in a so-called developed city. I also came very near to being pick pocketed in Barcelona so this is not uncommon. I wish the authorities there would do something about it.
@@saveandinvestwithgiorgiolo8375 did you forget to mention that non EU property owners cannot deduct any operating a
Or maintenance expenses if they rent out a property?
@@patrickbailey1249 I have mentioned this on a video do not buy property in Spain as an investment. I believe you can still deduct if you are from an EEA country e.g., Norway or Switzerland. If you are not from these areas not only, can you not deduct operating or operating expenses but you pay 24% tax instead of 19%.
Thank you Giorgio. Brilliant video rundown. I've been looking for someone to slap some negatives in my face after feeling quite positive about Barcelona for buy to let. I knew about the taxes, tenant laws, squatters and political issues, but one thing that's confusing me is the average price per m2; idealista quotes less than 2000 per m2, and I'm seeing possible refurb projects for 1 to 1.5k per m2 at the moment in central locations. I ran some numbers and a refurb project proved promising. I'm a beginner, so just wanted to ask: Am I missing something? Thanks for the video again!
Hi Charlie many thanks for your feedback. I am glad to have been of help. Unfortunately the average price per sq metre in central locations would be well over 2000 Euros. You would be looking at a range of 3500-4500 although with Co-Vid 19 you might now get something a bit lower. I will go through Idealista tonight. Thanks again
@@saveandinvestwithgiorgiolo8375 Brilliant Giorgio, thanks. Such a quick reply. I've also been searching milanuncios and searching for options more than 80m2 for under 100k. If they're real (and that's another big question) I'm feeling confident I could put the work into them for under 20k, possibly add an extra bedroom on the bigger ones, and bring their value up substantially. I'd love to know what you think. (By the way, liked and subscribed)
We have a cheap apartment to sell if your interested. I can put you in touch with my agent if you like.
@@char377 You must be very careful. These probably have some legal problem with them, making them essentially worthless.
Another great video thanks, but I have to correct you on the cost of the tourism licence as it's actually free , at least here in Murcia, they actively encourage it so they can tax the hell out of you once you are in the system
Kipps Guitar it depends where are you are in Spain and yes I am sure they do this to get as much tax as possible.
Just wanted to add the authorities in Barcelona want to ban short term holiday lets up to 30 days thereby in effect ending Airbnb.
Super informative. Thank you.
My pleasure
Great summary can you do video on Turkey
In my plans Irfan
Hi Irfan I have just done a video on Istanbul
Is this the same for the whole region, for example Sitges?
Most of the information in the video will apply to the whole region. Stiges is nice. Perhaps a lifestyle purchase.
Hi! I'm real estate agent in Barcelona and yes there are problems in Barcelona but you make it much much bigger !!!! There are a lot of people which are making a lot of money in Barcelona !! SOO, If you need help just take an expert to help you! And please when you talk about numbers be real !!!
Hi Emanuela my numbers are based on extensive research and is of somebody who has no vested interest in selling property in the city unlike yourself i.e. my views are impartial. If you are looking to buy as a lifestyle purchase that is fine but the authorities in Barcelona do not like landlords. I did also say Barcelona is a beautiful city.
Thank you!
My pleasure
The issue with the Catalonia region is that it remains very socialist and becoming less business friendly compared to say Madrid or the Basque Country for instance. Barcelona has a serious issue with the so called "okupas" (occupants) - who are the illegal tenants that install themselves in your own property and refuse to pay afterward. The law in regional Catalonia makes it hard to kick out the person unless you have good proofs and favours the tenant in that case.
A huge majority of the properties are extremely overrated especially in the "Barcelonés" area which is the proper town itself. If you are looking to rent, you will have to show so much papers such as last 3 payslips, pay 3-6 months of rent in advance, the fee for the agency, the annual fee for garbage in some places. There is an additional tax called IBI that directly goes to the regional government.
Many neighbourhoods are quite noisy and finding some peace of mind is close to impossible. Not to mention the increasing crime rates, quite ageing population. The real-estate business is owned by 3-5 companies that dominate the whole market. Even locals themselves are fleeing outside of the city itself.
Finally, the region's atmosphere has changed quite a lot during the last 5 years or so, with all this separatist movements, the mayor's deeply socialist model and the increasing debt which is due to the financing of the separatist movements and extremely expensive mansions in Brussels to begin with. Sadly, Barcelona is losing its shine.
Thank you Lima for such an in depth analysis. It is really sad to see this happening in particular the crime rates. I saw an attempted mugging of tourists when I was last there. and two of my ex colleagues fell victim to pickpockets whilst there on weekend breaks. Shame because Barcelona is a beautiful city and with the combination of the sea should be a paradise place to live
Good content!! Spain is a communist dictatorship. Cataluña and Balearics Islands more....The best investment in Spain, is to leave the country as soon as possible. Portugal, Croatia, Slovenia, Check republic....offer much more investment opportunities, more quality of life and are safer. Would be good to make a video about Slovenia, the hidden paradise in Europe. Thank you Georgio!!
Thanks Alfredo for this feedback as well. It is a real shame but the videos I made on Barcelona and Mallorca are possibly the two of the worst property markets in Spain to invest in. I think there are areas in Spain which are better but my worry is Podemos getting their way and therefore higher property taxes and being unable to evict a tenant under any circumstances.
Sorry!!! All u said is wrong and didn’t happen! Tourist r back wild
Oh really what about airbnb restrictins and low yields.
I'll just buy a condo in Bangkok instead.
This could be an option. I will cover Thailand in the not too distant future
@@saveandinvestwithgiorgiolo8375
For Thailand, my personal advice is no. for some reasons
1. The Thailand Law design is not friendly for foreigners investors. The local Thai citizens can buy a property ( condo and villa ) with very cheap price when for foreigners, it cost much more. When you, as a foreigner, would like to sell, you will find your selling price isn't competitive.
2. Over supply than demand. ( too many Chinese investors in the past few years.)
There are more. I was thinking about Thailand before but give up that idea after research.
Well, at least Barcelona is not as terrible and disgusting as Harlem. Still a paradise for New Yorkers.
That is for sure. A lifestyle purchase