Reply to: Overseas property investment

[Captain Dispensable]

I've got nothing planned for the next millennia.

Soon we'll be able to sell snow to the eskimos and not have to come from liverpool to get away with it.

[gingerjedi]

Aren't many of the european ski resorts a bit worried about global warming?

Might not be the best time to invest in ski resorts, maybe mountain biking instead

You have to be in it for the long term but maybe 1000 years is a bit beyond what most people are prepared to wait

All the resorts I have been to do walking, mountain biking, paragliding etc in the summer months already, it’s just that the summer season will start to get longer soon.

[milanbenes]

'Aren't many of the european ski resorts a bit worried about global warming?',

not 'arf pop pickers


I was told by someone in the know 6 years ago that VC's will not
invest in any projects beneath 2000metres.

Milan.

[Captain Dispensable]

Aren't many of the european ski resorts a bit worried about global warming?

Might not be the best time to invest in ski resorts, maybe mountain biking instead

[Jog On]

compounded - That's 380% in 10 years when it's already gone up 400% in 5 years.

You've obviously been listening to a looney at the seminar.

Exponential Long Term Growth
The report projected a staggering 414% return on investment for the next ten years. That works out to a commanding 17.8% annually. Furthermore, a June 2006 study by Colliers International positions Romanian property as the second most profitable property market in the world.

http://www.anglo-romaniandevelopment.co.uk/

Yeah stark raving bonkers

[sunnysan]

Not a learned opinion but...

I would imagine that once you money goes into property in Bulgaria , Romania etc you would have a problem getting the money back again if you wish to realise your profit.

I am pretty sure that if you did liquidate your property that the government would take a huge chunk of your profit if you wanted to repatriate the profits

Like I say, I dont know the facts but I do know a bit about Eastern Europe and I would check that before you invest.

[Clippy]

One thing I do is buy ancient farmhouses and basically modernise them. Jack them up, put foundations under, connect them to mains water, gas, sewage etc. wherever possible. Treat all the timbers, rethatch the roofs. Often times even have a buyer before I'm quarter the way through.

Dunno why it is, but not many Danes do this, loads of Brits over here making a mint at it.

There's even one Bristol guy I met who chops big trees down, another job Danes won't do, even gets sub-contract work from Danish tree surgeons who can't get their own staff to do it...

Threaded, what kind of figures (ballpark) are we talking here?

[woo]

*edit* Property in Romania is 'expected' to return an average of 17% a year for another 10 years

compounded - That's 380% in 10 years when it's already gone up 400% in 5 years.

You've obviously been listening to a looney at the seminar.

[gingerjedi]

I know the potential returns on eastern Europe are higher than Spain, Portugal etc but so are the risks, there's a lot of activity with the eastern ski resorts but they have a long way to go before they can get anywhere near the respected ones, you can do most of the piste's in these resorts in a morning! If I was investing in a ski resort I would look at smaller ones in France with links to the bigger one's, I went to a place called Flaine in France few years ago where 1 bed apartments were going for £30k since then a big Canadian company moved in spent millions on the infrastructure and they now go for 4x that!

For anyone with a family Flaine is great, probably the best for skiing in France outside of the 3 valleys, the actual resort is very quiet mind.

[threaded]

One thing I do is buy ancient farmhouses and basically modernise them. Jack them up, put foundations under, connect them to mains water, gas, sewage etc. wherever possible. Treat all the timbers, rethatch the roofs. Often times even have a buyer before I'm quarter the way through.

Dunno why it is, but not many Danes do this, loads of Brits over here making a mint at it.

There's even one Bristol guy I met who chops big trees down, another job Danes won't do, even gets sub-contract work from Danish tree surgeons who can't get their own staff to do it...

[Gonzo]

An aunt of mine bought property in central London during the second world war. Needless to say it was very cheap at the time, but she enjoyed a very comfortable retirement!

So if there is a lesson to be learned there, buy land in Baghdad. Don't build on it yet, just buy the land and maybe one day, your children will be rich!

[Clippy]

Sounds like a scam to sell un-lettable property to me.

I'm beginning to think on similar lines.

A few years ago large chunks of real estate were bought by large institutions who are now trying to offload them because the residential property market has failed to pick up.

I think this is a marketing activity aimed at getting mug punters to carry the can - similar to what happened at the end of the dot.con boom.

[gingerjedi]

There have been a lot of articles this last week of how the German housing market (specifically Berlin) is a 'sleeping BTL giant'.

I visited Berlin recently and was told it is one of the only cities in Europe along with Venice where the population is falling year on year so I don't know where the articles are sourcing their info? Sounds like a scam to sell un-lettable property to me.

[gingerjedi]

Yes I am! My dad has lived in Spain on the Costa Blanca for the last 15 years and he has a villa that he lives in with 2x B&B's in converted out buildings and an apartment that he rents out.

On a recent visit I quizzed him on the pro's and cons of villa vs. apartment for investment with a view to moving out there myself, he advised getting an apartment purely because you can lock up and leave it whereas a villa will need a gardener, pool cleaner etc and the chances are neighbours are less likely to notice any problems that may occur, once your happy buy another.

He reckons he gets about 12k pa renting the apartment out and he only paid £100k for it 18 months ago, that certainly beats any BTL in this country!

When you want to move out there sell up and buy a villa, well that’s my plan!

[Clippy]

Property in Romania has gone up 400% in 5 years...Unfortunately, 5 years ago I didn't know this...

This is the dilemma, am I jumping onto a bandwagon that is about to come to a halt?