TURTLE BAY ECO- What do you think?

[Gee69]

Hi fresh,

Thanks for your reply mate...

It's true that we have to pay attention to the prospects of the exact location we are investing.

As you say I have always had the suspicion that in most of the properties advertised world-wide, which the overseas investors buy are meant to attract foreigners, and they do that job (of attracting exited investors)
quite well.

And the prices as well as projected prospects for these will always be at a premium to the actual local scene; that's because of the high inflow of foreign funds.

Ofcourse they may appreciate in value - but I guess that the reason could be that more foreigners are getting wooed rather than any real develpment or change in the local sense.

To answer your questions, I am looking only in an investment angle, I might not stay there myself.

Rental or capital appreciation prospects ? I am not particular about either one of this, as long as the return is decent enough to justify investment at such a location. But I do think rental prospects in developed nations would be more secure an investment compared to investing in a off-plan at an uninhabited area.

Gee

Originally Posted by fresh1

Hi Gee

Brazil is a HUGE place. It would be like saying I want to invest in UK. There are many many different areas in Brazil - cities and coastal resorts.

Most of the population of Brazil, and the wealth and infrastructure are in the southern states. And the north of Brazil is very poor. Brazilians in the south prefer to holiday in the south as well. So you need to think about how long you want to hold the investment and who will buy it from you when you need to sell it.

You need to know your reasons for investing, and what you want from the investment. Is it pure investment? - do you want a rental yield? Or are you happy for just capital appreciation? Would you want to stay in the property yourself? And of course, what your budget is.

Also, if you can, if you have the time, you really should see something before you buy it. If you cannot, and you must buy "site-unseen", make sure you do as much research as you can into the development and into the area. Ask the agent the downsides or risks in the property, as there are always risks.

Like Belmonte, which is quite remote and difficult to access, and it would be interesting to know if any Brazilians are actually buying here, or just foreigners.

Good luck

[Gee69]

Hi Wolfgang,

Thanks for your comments on the property agents.

Gee

Originally Posted by wolfgang

Gee,
If that is a concern,opt for a resort community with 24 hour security.
I have no direct experience with the agents you mention other than with Property Showrooms and i would certainly regard them as one of the better intermediaries.
Whilst they do not always conduct a prior site visit, they do check out the developments they represent to a greater extent than most.

[Gee69]

Hey all !!

I need your views...

Turtle Bay prices have been hiked by the developer as promised earlier...
...and I am being offered to buy a plot at the earlier price which is some 15% less... Well this is because I had shown interest earlier and in principle registered for it, though I havent paid a penny...

Do you think it is a good offer ?

I do get these doubts :

1) If the demand is really so great, why not they sell it to someone at the current price instead of offering me at 15% less price

2) Even in good faith on the developer, whatever price increase we are talking about are only the prices quoted by the developer. When it comes to selling your property, are there real takers and for the price we would quote ?

3) The price Brazilian residents would pay for the same property would be much less... so they arent the ones who are gonna be the potential buyers when owners decide to sell in the open market !!

Gee

[Gee69]

Recently from my busness contacts I learnt that four of the global Tire majors are setting up manufacturing facilities in Bahia.

Looks like there are many other industries coming up as well including automobile players...

May be the north-east is not anymore the uninhabited land as much as we thought it was.

Developing, huh... Then reality boom could be a possibility, I guess !!

Gee

[RalphJ]

Originally Posted by Gee69

Recently from my busness contacts I learnt that four of the global Tire majors are setting up manufacturing facilities in Bahia.

Looks like there are many other industries coming up as well including automobile players...

May be the north-east is not anymore the uninhabited land as much as we thought it was.

Developing, huh... Then reality boom could be a possibility, I guess !!

Gee

Salvador and Recife are undoubtedly the two major economic engines in the northeast.

[ady1231]

Originally Posted by Gee69

Hey all !!

I need your views...

Turtle Bay prices have been hiked by the developer as promised earlier...
...and I am being offered to buy a plot at the earlier price which is some 15% less... Well this is because I had shown interest earlier and in principle registered for it, though I havent paid a penny...

Do you think it is a good offer ?

I do get these doubts :

1) If the demand is really so great, why not they sell it to someone at the current price instead of offering me at 15% less price

2) Even in good faith on the developer, whatever price increase we are talking about are only the prices quoted by the developer. When it comes to selling your property, are there real takers and for the price we would quote ?

3) The price Brazilian residents would pay for the same property would be much less... so they arent the ones who are gonna be the potential buyers when owners decide to sell in the open market !!

Gee

Hi;

Turtle bay is a good development, no doubt, golf, hotels etc..

I beleive the prices are a bit high for the region. This is the dilemma i faced, i had to choose between Turtle Bay and Coconut Grove, which i finally bought a first line to the beach plot.

Prices on both projects have gone up, you just have to choose which one suits you.

Cheers

[wolfgang]

Gee69,
In answer to your question,the fact of the matter is that Turtle bay has not sold very well at all. Neither did it sell well the last time around either when they first launched it back it April of last year.In fairness though they did launch too soon before they were properly organised and had planning permission.

It is a good development and now has the added credibility of David Lloyd but is way too expensive because they have made the marketing error of fixing prices too far into the future.This means in effect that all the early purchasers are subsidising later purchasers.You hit the nail on the head yourself really when you raised the question as to why you were being offered "old" prices if there was lots of demand for the plots.

[wolfgang]

To clarify,ZENs initial allocation of 64 plots has been fully reserved.
From December of last year ASCL have worldwide exclusivity on all sales.There are no other sellers.
Prebooked ads are still running and details of interested parties are being recorded in strict rotation of contact for a future release -the timing of which has yet to be finalised.

[Gee69]

Thanks for the clarification wolf...

I also note that these ads mention a minimum price of 37,500 UK pounds (villa ?!) ... I understand there was an offering of plots @ 8996 & 17k+ ....

Must be the total built up price on the ads...

Anyway... good work mate !!

Gee

[ady1231]

Originally Posted by wolfgang

To clarify,ZENs initial allocation of 64 plots has been fully reserved.
From December of last year ASCL have worldwide exclusivity on all sales.There are no other sellers.
Prebooked ads are still running and details of interested parties are being recorded in strict rotation of contact for a future release -the timing of which has yet to be finalised.

wolf, could you please give me more info about this development? what is it called, where is it located?