Renting better than buying?

johnty


Joined: 03/06/2008
Posts: 257

Message Posted:
15/07/2008 13:54

For those thinking of retiring and buying a property. Why not rent long term. Put your money in a ytl acount and earn 19-22%. Can live very well on it. Given the problems people are having with builders,pools etc.

Ian02


Joined: 26/04/2008
Posts: 25

Message Posted:
15/07/2008 18:25

Definitely makes sense to anyone cash rich at the moment.Looks like we are in for a good few years of doom and gloom with property markets likely to be decimated.Cash is king!

Reproman


Joined: 05/06/2008
Posts: 252

Message Posted:
16/07/2008 00:21

What happens if they unite?

you wont get those attractive interest rates once it all turns euro.

House prices will go up

so too will ur rent.



but that is only...if they unite.

rtddci


Joined: 29/12/2007
Posts: 842

Message Posted:
16/07/2008 00:25

Yes but you can choose when to buy. Euro? Unite? Is that a pig I saw flying past my window?

eager


Joined: 23/02/2007
Posts: 1272

Message Posted:
16/07/2008 00:38

If they unite?.......very unlikely in the next few years, possible in the next ten, House prices will continue to fall for another 2 years. If you are cash rich then wait untill early next year to get best prices. Not just nc.....also in uk....prices have been too high for a long time.

Great news for youngsters who are starting out in life.

Reproman


Joined: 05/06/2008
Posts: 252

Message Posted:
16/07/2008 02:00

With all the large building companies cutting jobs in the UK, ( Barratts, Wimpy, Persimons etc) whats the chances of building companies in north cyprus survivng the credit crunch/property crash?



And do you really think property in north cyprus can get any cheaper?



Will all the ex pats with second holiday homes abroad start selling up as they feel the pinch back home?

Will the construction firms start knocking thousands off the asking prices as investors stop buying?



All this is going on right now, not only in the UK, but also in USA and Spain.

infact one of Spains biggest property companies, Martinsa-Fadesa, has just gone under...



http://www.euronews.net/en/article/15/07/2008/spanish-property-downturn-claims-martinsa-fadesa/

fire starter


Joined: 19/06/2008
Posts: 3401

Message Posted:
17/07/2008 10:28

ytl is an unstable currency, says the world bank. remember the tax on interest you pay to the goverment. bank off shore then you know your money is safe and interest will be paid without tax being taken off.