where to buy a hot property?

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latedevelope

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Can anyone hazard an informed guess...I've read so much about areas but am a little nervous about making my first investment .I know it'll probably get the reply that it's like looking into a crystal ball...just hoping someone out there has one!!
 
latedevelope said:
Can anyone hazard an informed guess...I've read so much about areas but am a little nervous about making my first investment .I know it'll probably get the reply that it's like looking into a crystal ball...just hoping someone out there has one!!
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Apparently Belfast is the next [broken link removed]. Geothermically speaking!!!:D ;) :D
 
A google for fast growing cities gave Almere in the Netherlands.

http://en.wikipedia.org/wiki/Almere

Apparently its a very young city created since 1976. With a current population of 178,626 citizens

According to Wikipedia,

In October 2007, the city council of Almere approved plans to expand the city to 350,000 inhabitants by 2030.
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If the city doubles in size and is growing so much within this timeframe, is that a good sign ?
 
latedevelope said:
Can anyone hazard an informed guess...I've read so much about areas but am a little nervous about making my first investment .I know it'll probably get the reply that it's like looking into a crystal ball...just hoping someone out there has one!!
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Not Northern Ireland.

http://u.tv/BusinessNews/index.asp?iNewsID=101478&dtmDate=18/12/2007

Rental demand through the floor

Demand for flats to rent has fallen sharply over the past three months owing to an over-supply of properties on the market, according to the body which represents the surveying industry.
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latedevelope said:
Can anyone hazard an informed guess...I've read so much about areas but am a little nervous about making my first investment .I know it'll probably get the reply that it's like looking into a crystal ball...just hoping someone out there has one!!
Click to expand...

We've just bought in Brussels. 10 minutes walk from EU quarter. Place called Boniface Square - google it and you;ll get some hits. Anyway, I posted a query on this back in June and after weighing it up decided to go for it. My partner and I went to visit the property and the area last weekend, *my second visit) and were very impressed with everything. Don't think we'll make a fortune there but it should bear out well over the long term. Brussels, despite its image as being very boring, is actually quite cool. Added to that its now only an hour and a half from London, St Pancreas, by Eurostar (since November 07) and also only 1.5 hours from Paris. There are great restaurants, bars and shopping areas and everywhere is very accessible either by foot or by metro/tram. Prices are still low in Brussels by Irish standards (even current Irish prices!). Belgian property market and economy is very stable and there appears to be a good rental market there with enlarged EU.

Good luck.
 
Its two hours alright.

Brussels most steady growth capital since 1970 it has done 10% a year.

High entry costs prohibit speculators but awash with money from the EU institutions.
 
"hazard", "informed guess", "crystal ball".

With respect this is a naive post; you might as well ask for next week's winning lottery numbers.

By 'hot' it sounds as though you are looking for some 'get rich quick' tip.

You are lucky you haven't been spammed by numerous agents trying to flog you the latest "luxury, can't lose, off-plan, concrete box".

Investment in property, as with any investment, is about medium to long term sustainable growth. You should not be looking to make an overnight fortune, simply to beat the returns from a high interest deposit account. Putting money into any asset short term is more akin to gambling than investing.

The papers & magazines are awash with innumerable new developments around the world; stop & think - is there a resale market ?. At the end of the 'guaranteed' rental period, what are the realistic chances of me and hundreds of other 'investors' covering our costs, never mind making a profit ?.

How many people do you know planning a self catering holiday in, say, Bulgaria, Turkey, Cape Verde, Morocco, Montenegro etc. ?. Not many, I suspect, so just who is going to be renting all these identikit units ?.

In my opinion (and opinions are like noses - pick your own) the current credit crunch has injected a large dose of reality into the market. Is owning a featureless flat near the Red Sea really such an attractive proposition ?. Doesn't matter how glossy the brochure, do your own research, then do some more.

Never, ever invest in property without visiting the location and looking at the reality.
 
Why Sicily ? Calabria is cheap overall and beautifull too. Sicily is the most expensive part though. There are reasons why its cheap, including one big one.

Watch out for the horse's head in the bed in the morning..

still, when you look at the amount of people investing in the Bulgarian coast. the mafia issue is the same, it is far far more beautifull, and a climate that retirees can buy into plus shorter flight from west Europe.
 
Sicily is light years ahead of Calabria in quality, beauty, infrastructure pretty much everything -Calabria is riddled with mafia - the ndrangetta (spelling), its the first point of contact for cocaine shipped from columbia in europe. sicily is also riddled with mafia - so neither are reccomended for doing business

Calabria is beautiful the first few days you are there, hang around for a while and you'll soon it see its flaws. It is cheaper though then Sicily because it is less developed.
Cefalu and taormina are beautiful spots to retire in or holiday in, very classy indeed. but I would advise buying something that is already constructed, be very thorough on the legals, check that whoever built it had the right licenses etc.


I wouldnt say your going to make a fortune in Sicily, its more of a lifestyle choice. you would have made money in calabria last year but prices are a bit artificial now.

I think either is a lifestyle choice, you pay more in sicily but you get more quality
 
I take issue with the parallel in terms of mafia-infested regions, between Sicily and Bulgaria. That there are irregularities and mischievous people and crooked officials, etc. in Bulgaria is a fact that nobody would deny. However, it is an overoveroversimplification to compare that to the organized family in Italy.

 In any case, to return to the original request, my advice is this: if you have free cash that you want to park safely and not touch for say five years, and you’d like it to appreciate two to three times in value, selected plots of land at the Black Sea coast in Bulgaria could yield that. I have purchased myself several ones seven to eight years back, and now they are worth between fifteen and thirty times what I have paid. This is of course history now and appreciation can not be expected at the same rate; however, given the trends and the current situation, certain areas will still go up at least 2-3 times, if not more, their current value within the next five years or so. Of course, you have to understand the specifics, and to know where to look. In other words, good research is paramount to your success. Good luck !

 Ivan D.
 www.dukaty.com
 
Right enough that crim's and general underworld are prevalent in any/every country, Bulgaria and Romania are still struggling (definitely not good to be a football club director in either), while being a banker in Russia is a no-no. But at least in Ireland we have a good handle on it - we vote them into the Dail and onto local councils! Better to know where they are!
 
Anyone says there are currently returns to be made in Bulgaria is selling something. There are people who cant give the stuff away, especially on a coast that is freezing in the winter and thus has no retiree market such as spain. Dont touch the place with a barge pole.

Look a established markets where there is value and genuine yields, especially if you are starting investing in property. Get independent advice, its worth the money. It will be tailored to you and objective...people here may have vestive interests in talking certain places up with little though for others.
 
Carlow, I respect all that you've said, however, there is one point that needs to be made: "independent" advice is non-existent. I had this land in my lap twice in the last 3 months and it's so so clear that anyone parading around claiming to be independent is nuts or lying, or else not human. Ask me where it's best to buy somewhere and obviously I'm going to talk about where I know, and if I'm working/selling/investing in a certain area I'd encourage you to do the same, even without getting a commission. Far better to spend the money you shell out to a "independent" advisor to use the wonderful thing called the net, libraries and media to narrow down certain areas you like and then go visit. Otherwise you're getting someone elses paid for "advice".
 
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