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Offline nophead

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Re: Getting expensive
« Reply #690 on: February 15, 2021 »
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We get on well with our neighbours.

The thing that has collapsed is the pound against the euro, so properties being sold off by Brits in pounds are more affordable to Europeans.

We spoke to Paul Ruane a few weeks again and he said the market was buoyant.

Offline pilgrim

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Re: Getting expensive
« Reply #691 on: February 15, 2021 »
Pound Collapsed!!!
Your out of touch it's 1.15 today.
It has gone up 8% since we have left Europe?

Offline nophead

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Re: Getting expensive
« Reply #692 on: February 15, 2021 »
Yes but it has been a lot higher before we voted to leave and not as bad as this before the 2008 crash.

Offline unhappy

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Re: Getting expensive
« Reply #693 on: February 15, 2021 »
The pound has not been so strong for years, as for asking an est agent if he is selling is like asking a businessman how he is doing when his company is going to the dogs or an undertaker who will tell you it is a dying trade.

You said they bought for the same price as you did a couple of years ago, so the market is stagnating,  when we sold one of our properties after owning it only 2 years we made over a 55% profit, the other one we sold in Nov 2018 we made a 48% profit, glad we sold then not now.

Offline LucyW

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Re: Getting expensive
« Reply #694 on: February 16, 2021 »
Unhappy - you say the pound has not been as strong for years, well on this day last year the mid-market rate was 1.2047 well above the current rate and pre Brexit !

Offline angiebabes

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Re: Getting expensive
« Reply #695 on: February 16, 2021 »
We’ve just recently sold our property in Tenerife and it sold in a day for a good price. Unhappy, making 55% profit in two years - you must have been clobbered for capital gains tax big style! We’ve got to pay enough but at least having owned many years it does soften the calculation somewhat!

Offline nophead

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Re: Getting expensive
« Reply #696 on: February 16, 2021 »
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glad we sold then not now.
You really have no logical thought. If the prices are stable and have not collapsed you would make the same gain over more years, so a lower tax bill.

Offline unhappy

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Re: Getting expensive
« Reply #697 on: February 16, 2021 »
We were in Tenerife at this time for 4 months last year & I can assure you the tourist exchange rate was nothing like that, Also we have a credit card that gives business rates on purchases & again it was nothing like 1.20.

Angiebabes we were lucky on both occaisions the developer was desperate to repurchase both the apartments, the first one he picked up all the taxes & costs, the second one, our friends who owned an Est agency had a very smart lady & it cost us about 5K tax & fees, we thought not bad on a 160k sale & she managed to get some of it back about 1k, unfortunately our friends have sold the agency & moved to the mainland. 

Offline LucyW

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Re: Getting expensive
« Reply #698 on: February 16, 2021 »
Unhappy- The rate I quoted 1.2047 was the commercial rate a year ago today, which I compared to today's current commercial live rate of 1.1467 as I write. The tourist rate will always be 2 or 3 points lower but either way the fact is that the pound was stronger only last year in contradiction to your comment.

Offline nophead

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Re: Getting expensive
« Reply #699 on: February 16, 2021 »
The best rate after the crash in 2008 was about 1.45 in 2015.

Offline unhappy

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Re: Getting expensive
« Reply #700 on: February 16, 2021 »
Lucy, perhaps you should read my post again, I said it had not been that strong for years in fact the last time it reached 1.20 was 30/06 to 01/07 2016 in my term that is years.

Offline pilgrim

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Re: Getting expensive
« Reply #701 on: February 16, 2021 »
Give it a few years, but I have no doubt, once thinks get on course and we are fully trading as an independent sovereign nation again, the pound will be trading back near it's previous dizzy heights!

Offline LucyW

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Re: Getting expensive
« Reply #702 on: February 16, 2021 »
Unhappy - I have no intention to get drawn into one of your childish arguments, I will just say that historical interest rates are available on the internet for you to check and the pound was stronger only this time last year.

Offline angiebabes

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Re: Getting expensive
« Reply #703 on: February 16, 2021 »


Angiebabes we were lucky on both occaisions the developer was desperate to repurchase both the apartments, the first one he picked up all the taxes & costs, the second one, our friends who owned an Est agency had a very smart lady & it cost us about 5K tax & fees, we thought not bad on a 160k sale & she managed to get some of it back about 1k, unfortunately our friends have sold the agency & moved to the mainland.

But you are personally liable for capital gains tax in UK! Irrespective of what the developer paid, if HMRC catch up with you, you’ll have to pay it. The estate agent you mention also didn’t cover your capital gains tax, just the retention of 3%. If you get caught you’ll have to pay up.

Offline Georgie

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Re: Getting expensive
« Reply #704 on: February 16, 2021 »
Euro to sterling was 1.75 in 2000


Offline unhappy

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Re: Getting expensive
« Reply #705 on: February 16, 2021 »
Over 2 decades ago, funnily I was 20 years younger then. (stupid post )

Offline unhappy

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Re: Getting expensive
« Reply #706 on: February 16, 2021 »
Lucy, you say my arguments are childish, again read my post, it was you that said in your own words the pound reached 1.2047 in ONE DAY all I said it has not been strong for years which my figures prove, if you care to check.

My wife has checked the rate we got at that time from various restaurants & supermarkets & as I said we get business rate exchange, the most we obtained was 1.1470. What markets post as a rate does not mean you will get that rate.

My posts are not childish they are FACTUAL.

Offline unhappy

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Re: Getting expensive
« Reply #707 on: February 16, 2021 »
Angiebabes, on the first & second transaction the developer paid any capital gains & my companies accounts checked this out with HMRC, also I have since had a dispute with HMRC over company pension tax manly because 2 governments departments would not talk to each other, after sending them the documents that we had paid the tax, they sent us a full apology.

On the second property yes we had to pay the 3% retention which our lady agreed a fee of £4170.00.

Not everything is black & white over there, our friends sold one of their apartments & found out they had not paid any ebe tax for 18 years, but the government were only allowed to claim back the last 5 years, we were also told by a resident many years ago, never pay the government tax unless you are sure you owe it because you will never get it back. 

Offline Georgie

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Re: Getting expensive
« Reply #708 on: February 17, 2021 »
Prices for first quarter 2022 are stable with holiday companies

Therefore no more expensive before lockdown

Not sure about health insurance though

Offline Georgie

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Re: Getting expensive
« Reply #709 on: Yesterday at 07:47 PM »
Can anyone recommend a villa in crab island or near to rent in December please for 6 people

Offline VictorM

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Re: Getting expensive
« Reply #710 on: Today at 04:01 PM »
Search Tenerife Holiday Apartments; they have some nice places they rent out!

Offline Georgie

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Re: Getting expensive
« Reply #711 on: Today at 06:36 PM »
Thank you I will take a look