D
Dotty
Banned
The local investor is buying because the banks are throwing money at people to buy with long term payment plans,but it does not mean that if I buy 10 units in one go that I will be able to of load them all on resales that I will make hugh gains now ,why because there are so many to choose from and a lot of Brasilians are all doing the same depending . All I hear estate agents say(brasilians)is oh you must buy now there are lots of foreigners investing ,but my real investments have been within the brasilian market over the yrs and has always been (in the local market)and I would not yet feel secure to venture into investing in condos set up for the overseas investor at present(with a resale in mind)or rental income from overseas because it is still a very young market and quite pricey at the moment in terms of returns.
That is my opinion at present,but could change if I have more faith in the overseas mkt in the future.
That is my opinion at present,but could change if I have more faith in the overseas mkt in the future.
Dotty,
Spain wasn't cheap to get to 20 or even 10 years ago it certainly wasn't 40 of today's pounds. Also the travel times once you got here were not good at all, i.e. 2 1/2 hours from the airport to Marbella on a single lane highway, I can do the same drive now in 30 minutes, and I have a friend who does it in 20 mins but at considerably higher speeds than me.
If prices of property in Brazil is so over-inflated why are so many people both local and foreigners buying?
I was in Switzerland until yesterday morning talking to developers, investors and bankers and they are going mad about the place.
I also heard (and saw the documentation to back it up) that there are also some buyers going through buying up large amounts of units in developments in one go.
We have a couple of US investors buying up big as well. So whilst your average punter may not be buying, a lot of other people are.
But back to over-inflated, do you mean the median price is over-inflated or just some developments & areas are over-inflated?
If the later then I agree with you, and the market should rectify that quickly enough, it is already as some types of developments in some areas are not selling at all and probably won't for years.
If the former, then have a look at the prices in places like Buzios near Rio, they are still selling there.
BTW, you would love to see some of the gumpf that gets offered to us, you wonder if some of these people have any commercial sense at all. We even had one developer who has an interesting project but insists that all payments are sent into Sweden so there is no chance your money is ever registered in Brazil. What is worse this guy openly admitted not having consulted a Brazilian lawyer once about the contracts, so I doubt anything is even legal with this development yet he is building it!