Is the market Bust?

This came to me be email unsolicited...this is the 2nd one I have had where property has "returned" to the market and is being discounted. How many more of these are out there? I am convinced that the overseas property market is in downturn and struggling, many are trying to prop it up but interested to hear other views.

WITTENBERGE, GERMANY
UNEXPECTEDLY AVAILABLE AGAIN...
ONE OF THE FINEST EXAMPLES OF LOW PRICED PROPERTY INVESTMENT POTENTIAL IN EUROPE

 

very amusing

 

Hi all,

WHAT are you saying that the brazilian economy is bust or going bust also???

What with the world cup on the way and the 8 th largets oil find in the world discovered last week???

With the international investment of millions being pumped into the economy???

Brand names and businesses going into brazil in force????

New flights and airports planned???

One of the largest export economies in the world???

Being the gateway to south america???

DOESNT SOUND LIKE A BUST SITUATION TO ME!!!

And those above were only teasers!!!!

Take care-D

 

No just the off plan property market....with properties re-appearing "unexpectedly back on the market"! In a boom, properties don't re-appear they get snapped up!

 

So you have received 2 emails about props being put back on the market, and one of them in a tiny little town in the backwaters of Germany and from that you are predicting the downfall of the whole overseas property market.

Shouldn't you sell your property in Brazil before it's too late !!!!!!!!!!!!!!

 

Hi all,

Also shouldnt you worry about the issues you will have trying to re-sell property in spain???

AS THAT IS A REAL BUST AND BUBBLE BURST SITUATION???

You cant be in decline until youve had a boom first!!!!!!

Dont tell me brazil has boomed already and the world missed it ??

Take care-D

 

Oh how you rise to the bait!!! Yes the world is in recession in the property market. Does not mean it is bust- just that lots of people who bought last year are sitting on losses.
Property has always been a long term investment - so you ride out the falls and you will not lose. There are so many Spanish developers in trouble cos they thought there would no end to the gravy train of overseas buyers for their properties. The real bargains are now in the auctions where the real market prices are set!

 

Hopefully, Brasil is still on the up, but who knows- maybe prices will not rise like they have for the last few years. If they do Brasilian people will not be buying and when there are no more foreign buyers the prices will fall - simple economics- supply and demand. When the stampede starts then I want to first out the door!!
The attraction for Brits and Europeans in general of buying in Brasil, Morocco, Egypt, Bulgaria etc has been what you get for not a lot of money in comparison to your own country. It does not mean that the price is cheap- research what you pay for a Brasilian house re-sale, through a local agent. Check the classified ads

 

Yes but I didn't buy mine to make money, I bought it to use! If you want to make money start a proper business, then take the money out to spend on luxuries like properties in Brazil..but don't kid yourself that you can make money in a declining market. Please please, can anyone tell me how the off plan concept works in a declining market? Why would I buy today at the price of 100 when in 3 years time it will be worth 100-20? Unless of course you don't care as you just like it. But seeing as the off plan industry have affectionally named you all "Investors" there is a perception that you invest for profit not for loss.

 

show me the proof that the market is declining in Brazil??? The Brazilian real estate industry certainly don't think so, but I would like to see your evidence.

Come on golfxxxk show me some proof.....

 

I've always held that you can probably get a better "deal" buying resale properties over off-plan. There is a trade-off and some people are willing to pay higher prices for the extra conveniences that off-plan properties offer.

I guess my concern is that some areas may get over developed in the same way that Miami did. there is a glut of new condo units coming on line and still many projects that have been approved and just started construction, meaning the glut will get worse before it gets better.

Can these towns in Brasil absorb all of the new units being planned or built? that's my quesion.

PG

 

UK property market 'turning down' BBC 30/11/07

UK house prices saw their biggest fall in 12 years during November, mortgage lender Nationwide has said.

It's all starting to unfold!

 

Just out of curiosity, what was that record fall? Also, are prices in London holding up as they are in NYC and San Francisco here in the US?

PG

 

good to see you are still a drama queen golfwit....

"The firm's data suggests the cost of an average home slid by 0.8% from a month earlier - the first drop in price seen since February last year.

The annual rate of house price inflation now stands at 6.9%, down from 9.7% reported in October.

.........

However, the Council of Mortgage Lenders (CML) has suggested that the downturn may not be as sharp as it seemed, and that it was being amplified by problems in the global money markets.

Banks are having to pay more to borrow money, and as a result are cutting back on the amount of cash they lend and are asking for higher rates of return when they do approve loans.

......

"With interest rates on the way down and the continued issue of undersupply of housing in the UK market, the underlying fundamentals are perhaps more positive than the recent swings in sentiment might suggest," she said."

From the very same story on the BBC site that golfwit is quoting from.... BBC NEWS | Business | UK property market 'turning down'

 

There will be opportunities though GW, although if I were wanting to buy in England or the U.S. I would wait a little while.

 

The UK Pound is at 3.37 to the Brazilian Reis yes 3.37 last December I got 3.85....whats that 15%+ decrease in the Pound's value????? I just tried to book in Pipa at the same Pousada as September where I paid reis 100 per night they just asked me for 195 reias per night or the equiv of £Pounds 50 per night...yes £50 per night for a Pousada.....so where is this boom coming from at these prices and exchange rate?

 

G world, do you not live there already? you seem to discuss about how brazil is a waste of time for any european yet i still do not fully understand what exactly you are doing there?

Are you looking to invest or do you already live there and are trying to warn off others for diff reasons?

I am not trying to make you retaliate, i am just trying to understand that, for someone who seems so passionate about this country, you always seem to be on here with such a negative outlook on it?

from what i understand you have purchased/or live in ponta negra?
so why such a negative outlook on Brazil?

I am not having any kind of argument on you (believe me, i have noticed you on here and would not think of it!!)

But I am just confused as to why you devalue any investment in Brazil when you yourself love the place and everything about it? and in my eyes would love nothing more than just stay put in the place?!

Hope you all have a very merry xmas and new year
All the best.
Nick