Currency question

https://www.balearic-properties.com/

 

thanks for nice sharing , got some fine lines with exact information.

 

Have a friend who just bought up 5 properties in the Canaries. Cheap as chips out there at the moment.

 

Haven't been there... Isn't it where they had a volcano erupt?
Nothing's cheap on the southern European coast if you want a water view and a sunset...

 

Yes it is volcanic but not sure they've had anything go off recently. I know Iceland have. The appeal of the Canaries is that they are warm year round and so good chance of high occupancy vs the rest of Europe.

 

it sounds rather scary if it gets cheaper and cheaper and cheaper.

 

Rental costs are quite steady though so the cashflow will be sufficient for him to break even on them in 5-6 years without being too greedy.

 

He'll own outright the properties after 5-6 rental leases or breakeven on initial investment ?