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New_Paradigm

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About New_Paradigm

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  1. It is a new paradigm, my friends! Price can rise ad aeternum. Savers will pay for it
  2. Equity market will do great with the US/UK/EU QE. It is a great time to buy stocks like Foxtons which have lost value recently and are absolutely undervalued.
  3. TheCountOfNowhere, where can I see price reductions in RightMove.co.uk? I know in Zoopla you can see them on the side.
  4. I would buy 2, but I am not a greedy person. I just want to buy one flat not only as an speculative investment but also as a place to live.
  5. Forever HPI is a natural law, like gravity. Get your facts right. Well u know... worst case scenario my £400k 1-bed flat in kennington will just increase its value to £600k in 5 years' from now. I can spend £10k in some new IKEA cabinets for the kitchen, a new shower with Hansgrohe mixers and some fancy new wood flooring for the living and bedroom, and that would easily add up another £50k to the total value... so if I end up selling it for £650k it is a £240k profit in 5 years. Not too bad, don't you think? That is the the total catastrophic scenario. Still better than renting, and ending up living in a cage in Poplar like most of you.
  6. Wishful thinking. Oil prices --- It might affect Russia and the Middle East... maybe. Maybe in the event of a social upheaval in Russia or Saudi, more locals will put their money in a safe heaven = London. There are plenty of emerging economies that will benefit from low oil prices. China and India are the obvious ones. So yeah you might end up losing some lousy Russian billionaire who is not going to buy a £100M flat in One Hyde Park, but you might get 1000 new Chinese or Indians in a bidding war for a BTL in Stratford. Beware of what you wish European QE?? Sorry, that means more money in the Eurozone! The only downturn is the EURGBP exchange rate; but on the other hand Europeans will have more money to spend... more money to a safe heaven = London. It is a NEW PARADIGM.
  7. It looks like a bargain to me. You got a convenience store next door... that would add about +£200,000 in value to the house.
  8. So if I buy my £400k 1-bed in Kennington or Clapham today... how much do you think it will be worth under the NEW PARADIGM? I was thinking to sell it for £800-£1M in 2020. Will 1 million pounds be achievable in 5 years from now? Worst case scenario it is just a +£6,000 profit per month for 5 years. I think it is not bad. And I save the rent What do you think guys?
  9. @8 year itch, you see? http://www.bbc.com/news/magazine-18117255 Maybe sooner than later you will see Somali pirates and Somaliland goat herders flipping 1-bedroom apartments in Kennington for the millions. It is a NEW PARADIGM. Beware of what you wish.
  10. Why not. Somalia is doing well. But I trust Cameron. The BoE can print until the end of times, and create new schemes where they can back up the deposit & mortgage.
  11. I am a visionaire, and I am already talked about this in my thread: London is the new Dubai or new Hong Kong. You better it understand it sooner than later.
  12. 7,000 million. The world population is a potential customer base for a global city like London.
  13. You named it! Absolutely, don't have any doubt! Worried1, I think we are finally in the same vibe!
  14. There are more than 100,000 secondary residences in Paris for a population of 2 million So 22,000 for London is nothing! Sorry!!! You don't need to speak French; look at the numbers in central districts: 8e (Champs-Elysees), 4e (Marais)... http://www.slate.fr/story/84525/paris-logements-vacants-residences-secondaires Well it is very funny you talk about Ile St-Louis. My studio flat (which I expect to sell to buy a flamboyant flat in SE London ) is actually on that plan (but in the "mainland"). That part of Paris (the "Iles" - the other is where Notre-Dame is -, Marais - North - and Latin Quarter - South -)... I would compare it to Leicester Square or Soho. So they don't really attract the Arab/Chinese/Russian which will head to the West (around Champs-Elysees, which would be the local "Mayfair") but maybe wealthy artists and so on.. Prices are not that high. My flat is about 10-12,000 EUR/sqm now. Yeah some top locations can command higher prices. For instance at Place des Vosges, Place Dauphine... if you have good views it can go up to 20-25,000 EUR/sq (very rare). Also new construction which is EXTREMELY rare there (just some old buildings completely rebuilt). There are less and less residents in those areas indeed but the secondary residences is just one of the reasons. To me, the main reason is tourism. Tourism in Paris (like London) seems to never stop growing (now you have all those Chinese, Russian, Arabs... that you didn't have 15 years ago). In those thin streets in those areas (like the Marais, Quartier Latin)... there is literally no space. So every weekend (no matter the season) they are PACKED. Well that is very annoying for a resident. You literally step out of your house to be in a flow and crowd of tourists. You have to queue in the metro station to go through the gates (no joke). My building has an historical feature (so it is featured in guides) and I see continuously tourists taking pictures of it (I can see it from my kitchen) since it seems to be in some itinerary with local guides. Sometimes it is funny, sometimes it is annoying. Second thing... because of tourists... retail becomes totally oriented for them (vicious circle). So it is not very cool if they close a supermarket to open who knows what (an art gallery, some flagship store, some antiquarian...). And even local shops are more expensive. My local PAUL (the bread chain that you have in London) is about 10-20% more expensive than others in areas just about 2 or 3 metro stations. The reason? (I asked a manager once). Tourists (which count for most of the customers there) are willing to pay more and rentals are more expensive. I am lucky enough to have a large supermarket next door (probably the largest in that whole area) but even there is full of tourists which means that they gradually orient it more to "take away" products rather than a real supermarket (and of course it is ridiculously expensive... it is like living in Piccadilly and having Whole Foods as your supermarket) And then finally tourism means AirBNB. Those small apartments in central Paris (mine is 300 sqft) are just PERFECT for AirBNB (really nobody cares about size; it is all about location when renting in AirBNB, and the location is top). Why rent full-time or live there when you can rent a 300sqft studio for 70 EUR a night? Just make your numbers! You cannot rent that apartment for much more than 1000 EUR. But even if you rent it for 15 days... you already break even compared to a full-time rental (and they don't pay income tax usually on AirBNB ). Of course in Ile St-Louis that is even crazier because you are in an island where (I think) there is not even a proper supermarket. It is cool because it is very quiet at night (and you are in the middle of the city), but it is definitely not handy (not to mention if you have kids, a car...it just doesn't work). So yeah it is a vicious circle. Many people "give up" and move to areas just about 500 meters or 1 km. that are more livable and prices are lower (not only property, but shops). Because otherwise you end up living in a tourist trap with all the inconveniences: you street flocked with tourists; crossing Chinese tourists in your elevator going to their AirBNB flat (really nothing against them, but it doesn't make a lot of "community" if you see the point) and having more retail choices to buy €1,000 shoes than a bottle of milk or some meat in a supermarket.
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