Why i love Las Palmas?
“It is Chiang Mai of Europe”
“Destination #1 for digital tourism”
Always spring weather.
Twice cheaper than Barcelona.
Few things i have found out:
You can get a mortgage if you are non resident and your income is from other European country.
The general terms are:
- you can spend 40% of your income on mortgage payments
- revenue from other country counts in. For the proof you need a document from your state inspection stating your last year income and taxes paid, apostilized by embassy. Last 6 month bank statement. Nota simple of the object you want to buy.
- you can get a mortgage with 30% downpayment and 2% interest for 20-30 years depending on bank. I have visited Santander and BBVA.
My target goal of ROI is 20% on personal capital. Buy, make construction – resell.
While on sale – Short term rental via AirBnb.
Those who are interested in buying property to rent – there is a good article on taxes and regulations regarding renting.
here i will post all properties i have visited: