Sometimes you buy a property in southern Spain with the hope to resell it after a period of time. But our global economy changes surprisingly against us. Now, you have a property which less value than what you paid. Let’s learn some ways to recover the lost money.
Accept the changes in economy
First of all we have to accept the changes. Before, it was unbelievable to think of rent a place in Spain. Thousands of people between Spanish and foreign visitors bought the kind property they like. The price of properties decreased incredibly but the financial interest didn’t. You if you didn’t pay the total price at once you had to paid monthly with high rates. Whether you paid the total price of your property or not by this time, you’re loosing money anyway.
When people can’t buy a property
It would be a lay to say that people want to buy a property happily in Spain. In most cases, there’s no money for that. The main fears are the variable rates of banks against buyers and of course the high cost of properties (taking in account the high cost of life). So the real option for people like you who has a property in Southern Spain and people who are looking for a place to live is renting.
Renting as a solution
You can rent your property to your friends, local Spanish people, and to people of different nationalities as a way to recover your investment. For this you would need to get advised for some real estate agent. The clients can be found by you and by the real estate agent. The contracts has to be done according local statements.
This way you can use many forms to advertise your property, newspapers, local town magazines and the Internet. The idea is to recover your investment little by little and, with time, to increase your income.