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Too good to be true?

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  • Too good to be true?

    Hi im liu, the new newbie lol
    i have decided that property investment as a full time career is the way i want to go with my life but i know very little about it. I am currently just doing my research. as a first time buyer i am very happy to have come across an apartment in portugal for only 16,800. But could it be too good to be true?
    It comes with two shared pools, and is very attractive. I would like like to buy the property and then either sell or rent for profit.
    But i was wondering if any one could have a look at this link and let me know your opinions. Why are propertys going for sooo little? I dont understand, is there any thing i need to watch out for here?
    maybe im just being very naive.
    all comments are much appreciated. thanks
    p.s its the 4th one down.
    propertyindex.com/www/holidaysales/search/results.aspx?
    pg=2&ps=10&stp=1&ord=1&cur=100&cnt=282&rgn=1195&ca t=2&prt=120000&poa=True&sld=False

  • #2
    liu, if you know nothing about the property market, you shouldn't be trying to jump on the band wagon - because it's a bandwagon that is already falling apart in a declining property market.

    Seriously, if you knew nothing about the stock market, would you be keen to throw massive sums of money into that?

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    • #3
      Even without looking at the link I think it sounds too good to be true...

      We operate a licensed inci registered Estate Agents based in Tomar Central Portugal, We are experiancing a busy time right now from overseas buyers (not just the uk) still looking for good quality value for money properties, the local market is fairly flat, so a lot of the Portuguese agents are having a hard time, we are lucky in that we market to the local market and the overseas market, so we are kept busy. but its a great time for buyers, lots of good properties around and great prices. but beware of property prices that sound too good to be true.
      Last edited by omostra06; 15-04-2008, 11:36 AM. Reason: .
      www.gekkoportugal.com
      A guide to buying property in Portugal
      www.chavetejo.com
      INCI Estate Agents, AMI 7856

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