Why I'm Not Buying Cheap Property in Spain or Italy

This is why I choose high-quality emerging market real estate over high-tax value traps like Spain and Italy.

Andrew Henderson and the Nomad Capitalist team are the world's most sought-after experts on legal offshore tax strategies, investment immigration, and global citizenship. We work exclusively with seven- and eight-figure entrepreneurs and investors who want to "go where they're treated best".

Andrew has started offshore companies, opened dozens of offshore bank accounts, obtained multiple second passports, and purchased real estate on four continents. He has spent the last 12 years studying and personally implementing the Nomad Capitalist lifestyle.

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DISCLAIMER: The information in this video should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.

[Bethechange]

Europe is a tax hell! Greetings from Germany.

[rikuk]

Spain is a buyers market with hundreds of thousads of empty home so its very easy to buy a great property there so long as you remember its a buyers market. Don't buy and hope to flip it for profit, don't buy it to rent out (lots of new rules on that) so only buy as a holiday/vacation/retirement home and life there is good.

[anselmo]

I am a Spaniard who lives in Valencia (Viveros- Benimaclet) and I agree with your magnificent analysis.

[ropa]

Spain is cheap to and rent there for a while, if you still like it and are settled there after a few years then maybe that is the time time to think about buying....

[Nomad_]

smart video with a lot of valid points...

[wsmith]

As if Mc Donald's is something to cherish or be proud of, haha

[jc-depre]

Please enable subtitles in your videos

[mrodriguez]

I live in Valencia and can't wait to get out, crazy taxation, low wages and an inheritance taxation of 35%, yes 35%, wouldn't invest a peanut here no matter how much sun, sun don't pay the bills

[footballdreamer]

Excuse me. Cheap property? You dream bro. Our market is expensive as hell. The thing is our income is way lower than countries like Germany, France, UK or Nordic ones and they come here, buy our land to have their vacations house and its so cheap they would pay any amount. The market is highly inflated by foreign investors.But if you compare prices towards Spanish salaries, even rentals not acquisitions, its probably the most expensive market in price to income ratio in Europe. That explains why 80% of spaniards under 30 years of age still live with their parents. I am 26 and me and all my friends live with our parents, even with a full time job we cannot afford rentals or purchase houses.

[martywize]

Spain has a great climate, low cost of living, excellent beaches and mountain scenery and great healthcare. If you have a property that’s fallen in value so what? Enjoy it!! It is STILL a great, safe place to live and will always be the number 1 place in Europe for tourism. It will bounce back, where else can you get 300+ sunny days a year?

[pjuliano]

Yeah, I’m just going to live where the weather is best, the food is great and the women are attractive ... your money doesn’t follow you to the grave .... I’m done with wealth accumulation

[lanceking]

In Spain, in the Canary Islands, having property here can be a nightmare because squatters are protected by law and you can't kick them out legally unless you go to court and fight for a year or two. It's absolutely insane for people who have second homes. The buses that were picking up the migrants that came in on the boats today end up getting paid about 30 euros per day from the taxes and they just go off to find a summer home that is not occupied. It's absolutely insane here. I took the legal route and it takes more than a year for non-EU citizens to get set up. You are treated like a criminal by the local tax office "Hacienda" and they have no qualms about slapping a 30, 000 euro fine on your business if you are missing paper receipts (yes, they want all original paper receipts to complete taxes and for audits, which is insane keeping all paper receipts) and then expecting you to spend even more money in court to fight the fine. The government employees are mostly acting like god figures knowing that their salary is safe instead of acting like civil servants who are there to support the people who is paying their salaries. It was a very disappointing experience and more than 3 years in, it's still absolutely a debacle even for the lawyers who I have to hire to keep up with it.

[backpackerdeveloper_com]

Man, I bought a property before in Natal Brazil and Puerto Vallarta, MX. that was when I was in my mid-20s. now older i get, I feel more and more like europe is my home. See Valencia, I was there like 1 month ago. Proper city beach, public showers, walk/running path, bike path, amazing public transport, ryanair flights to anywhere in Europe, dont have to worry to be killed at night. Here in Mexico where i am now, it just feels so messy. I love walking since I'm European and omg walking in Guadalajara... you really need to be lucky not to be killed by the car, forget bike riding (apart from like core old towb), won't even mention safety. It used to seem exotic but i feel like I grew up out of it. and also think about language ~ I love Tbilisi but I wanna live somewhere where I can speak local language so spain is no brained for me. Good luck with Georgian alphabet

[MostIntelligentMan]

lived in spain for 12 years, speak language fluently, when covid psychosis hit, had to get the fuck out, what a madness

[Garcwyn]

Spain/Italy vs Georgia… ffs! You can’t give a monetary value to everything in life. Potential growth and discounted cashflows have nothing to do with enjoyment and quality of life. You are missing the whole point

[johannesaigner]

Spain is so much better than this guy's countries.
I am in Georgia right now and come on it is nice, but hell it is so poor. Spain is just so much nicer to live and in many areas not even much more expensive. Just because the Nomad is obsessed with tax 🥱

[beebeemilo]

I bought a new-built apartment in Costa Blanca La Marina for €102k in 2017. I have a tourist license and it’s rented quite good through the year . It has a small mortgage but the rental income is enough to cover the mortgage and the expenses that come with letting out the place . Couple times a year for own use which means free vacation. The only cost for us are flight’s tickets, food and car. In 2019 it has been valued €145k. So I think it is quite a good investment after all.

[madameversiera]

I'm Italian and I agree, I'm trying to escape from Italy, even if you buy a cheap property taxes are high as hell. There is a lot of corruption and unemployment. There are no opportunities here, the only way is to escape, it is sad for me but that's the truth.

[onthebeach]

Everything you've mentioned is true EXCEPT if you're looking for a cheap, high quality retirement. If you're not earning any money in Italy (as an example) you're not paying those insane EU taxes. If it's your first home in Italy, zero property taxes as well. I'd rather retire in Italy (again, example) than Armenia, any day.

[karthikarvindcs]

So, Western European governments have done a great job by keeping such "investors" out..Spain is not a high pay nation, Spanish people need affordable housing, which is more important than being a "investment" destination for some American.