Quote:
Originally Posted by Dotty
Well John,
Buying is all about timing,but you also need buyers to buy and sell to am I right?Well if you cannot get here easily in the 1st place how will do you think that will affect the property prices and with the overseas property crunch in place right now and looks unfortunately likely to carry on for a while at least from 2 of the richest countries in the world it would be foolish to say everything is going to go through the roof .Now people did make millions in Spain(the investors who invested yrs ago)it is also 2 hrs away and 40,00 pounds to get to now Spain are going through a property slump and now is the time to buy in Spain,just as within the next 2 yrs will be the time to buy in the UK,why would you buy in Brasil when the prices are at there most overinflated??
|
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!