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davehoskings
New Member
In the spirit of sharing I would like to ask what people's investment strategies are in regards to property. Heres mine:
Prices are driven by supply and demand so if property is selling at that price then it isn't crazy whatever it is. Please note I do say "is selling". There is a reason why the estate agents maxim is "Location, location, location".
I used to think prices were crazy in some spots on the Costa del Sol 15 years ago. and oh how I wished I had bought more then. That wish still holds even in todays climate.
I certainly agree that some property is overpriced (crazy prices) in comparison to other similar property in the same area, but that is where research and a proper comparison comes in.
When I buy I don't look at price per m2 in comparison to other areas. That is just a fools game which will only lead you to buy something in the backwoods which you never would want to visit, can never rent and can never sell anyway.
What I do is ask myself does the place i am buying in have redeeming features which compare to other places which have already seen good increases in the past and is the type of property I am buying going to benefit from those price rises. This doesn't guarantee instant riches, but I am not poor at all.
I would buy in Buzios right now (not the dump south of Natal, the one near Rio) even though the prices are astronomical compared to what you can get in the NE, because I know it is an established resort town which is frequented by the wealthy of Brazil. Right now Brazil is getting richer so the prices can only go up.
Any Comments?
Prices are driven by supply and demand so if property is selling at that price then it isn't crazy whatever it is. Please note I do say "is selling". There is a reason why the estate agents maxim is "Location, location, location".
I used to think prices were crazy in some spots on the Costa del Sol 15 years ago. and oh how I wished I had bought more then. That wish still holds even in todays climate.
I certainly agree that some property is overpriced (crazy prices) in comparison to other similar property in the same area, but that is where research and a proper comparison comes in.
When I buy I don't look at price per m2 in comparison to other areas. That is just a fools game which will only lead you to buy something in the backwoods which you never would want to visit, can never rent and can never sell anyway.
What I do is ask myself does the place i am buying in have redeeming features which compare to other places which have already seen good increases in the past and is the type of property I am buying going to benefit from those price rises. This doesn't guarantee instant riches, but I am not poor at all.
I would buy in Buzios right now (not the dump south of Natal, the one near Rio) even though the prices are astronomical compared to what you can get in the NE, because I know it is an established resort town which is frequented by the wealthy of Brazil. Right now Brazil is getting richer so the prices can only go up.
Any Comments?