Getting expensive

[nophead]

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.

[pilgrim]

Pound Collapsed!!!
Your out of touch it's 1.15 today.
It has gone up 8% since we have left Europe?

[nophead]

Yes but it has been a lot higher before we voted to leave and not as bad as this before the 2008 crash.

[unhappy]

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.

[LucyW]

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 !

[angiebabes]

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!

[nophead]

Code: [Select]

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.

[unhappy]

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. 

[LucyW]

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.

[nophead]

The best rate after the crash in 2008 was about 1.45 in 2015.

[unhappy]

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.

[pilgrim]

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!

[LucyW]

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.

[angiebabes]

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.

[Georgie]

Euro to sterling was 1.75 in 2000

[unhappy]

Over 2 decades ago, funnily I was 20 years younger then. (stupid post )

[unhappy]

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.

[unhappy]

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. 

[Georgie]

Prices for first quarter 2022 are stable with holiday companies

Therefore no more expensive before lockdown

Not sure about health insurance though

[Georgie]

Can anyone recommend a villa in crab island or near to rent in December please for 6 people

[VictorM]

Search Tenerife Holiday Apartments; they have some nice places they rent out!

[Georgie]

Thank you I will take a look

[pilgrim]

Georgie, I have sent you a PM regards accommodation, it's very nice, downside for you is it is next door to Unhappy. But with your optimism and his pessimism and a meeting of minds the outcome could be fruitful for you both. A bromance even!

[unhappy]

Stop press :- person found dead floating in villa swimming pool, neighbour is accused, but has stone cast alibi, he was on his computer all day sending stupid questions to a site in LG, which the dead neighbour had suggested. 

[pilgrim]

  Haaaaaaaaaaaa!!

[Georgie]

I would rather book in a posh area away from some sort of communist

[angiebabes]

I would rather book in a posh area away from some sort of communist

Neither you nor your husband would feel at ease in a so called ‘posh’ area.

[Georgie]

I know but having a idiot with a large chip on his shoulder from past years is better than anything

[unhappy]

Firstly I was call a Capitalist for bettering myself & making a few pennies, now I am called a communist by the village Idiot. I rest my case your honour.

[blarer]

So the village idiot thinks Los Gigantes has a so called posh area.