Jump to content
House Price Crash Forum


  • Posts

  • Joined

  • Last visited

Everything posted by Radio

  1. One of the single mums admits she gets too much in benefits and it's too 'easy'. With 4 kids she says she gets £300 per week. £15,600 per year in hand. To earn that she'd need to earn at least £20k; for a woman with no qualifications and no job experience that simply won't happen. Cameron will have to overhaul the system; the country can't afford it (not just financially, but socially & morally as well). On Question time recently Ian Duncan Smith stated that ALL monies raised from income tax are paid out in benefits. He wasn't questioned so I assume he was accurate.
  2. deelcee, I think you have answered your own question, really. The chances of this development being completed, with utilities & amenities would seem remote. Walk away now you lose £66k plus costs. Complete & you will have a property on a building site that is unlettable, unsellable and an ongoing, open-ended financial burden.(Plus, of course, you'll be another £66k out of pocket). Last year I visited a huge development by Fadesa on the Portugese border - Costa Esuri - which is now a mixture of ghost town & derelict building site. Sounds like yours could go the same way.
  3. Radio

    £ - Euro

    The only thing frames can be certain about is paying £15 for a beer in club in Ibiza - whatever happens to exchange rates !.
  4. According to the Sunday Times Dubai is now Poo-bai. "Human waste from Dubai's 1.3m inhabitants is collected daily from septic tanks and driven by hundreds of tankers to the only sewage treatment plant at Al-Awir. In reality, the effluent is being illegally dumped into storm drains or hidden behind dunes in the desert by tanker drivers unwilling to join the 10 hour queues at the plant. The storm drains run straight into the sea, and the sewage quickly contaminates inshore waters, before washing up on the beaches.".
  5. On Askaboutmoney there is a long thread about Palmela Village; a lot of Irish buyers seem to have been shafted.
  6. If it's based on a "survey of investor sentiment" well, it must be true. You can't get much more in the way of solid facts and careful analysis than 'investor sentiment'.
  7. Interesting first post from tsupert. One could be forgiven for thinking that perhaps he/she has some connection with Fortuna, who's website now merely directs people to the Oanna site. All a far cry from the vaguely promised developments of hotels, golf courses, shopping malls and hypermarkets etc. Fortuna were/are a registered Spanish company so do not come under FSA rules for collective investments, and the reason they haven't been "scooped up" is that they haven't actually committed a crime; they have certainly misled people, but what they actually did was to sell shares in plots of rustic land in the middle of nowhere on the basis they might at some unspecified time in the future be sold on to developers. Having an established office and a landline telephone number means nothing. What it does do is raise the question of how they have been paying their operating costs, when the only money coming in for the last 4 or 5 years has been from investors buying shares ?. Ask yourselves, investors, just where do you think your money has gone ?. Where they may have behaved illegally is that according to a recent poster on the Singing Pig forum the shares they sold weren't actually part of one big plot of land but a number of smaller ones, not even necessarilly adjacent. So does anyone seriously think investors will see any of their original investment back never mind a positive return, at a time when there are a million unsold properties on the Costas and developrs are going under ?.
  8. soldintime, Where do you get that figure of 8 completed golf courses ?. Currently in the south there are: Tsada, Secret Valley, Aphrodite Hills and a nearly completed one close to Paphos airport. Outline pp has been granted for one near Polis - subject to the club sourcing its' own water supply.
  9. So, 6 years after they started selling shares in their first field this is their latest proposal, is it ?. Initially, the sales pitch was that the site would be sold on to a developer. Then they were applying for pp to build a wedding chapel !?!. Last year it was a feasabilty study to decide if the site was suitable for alternative energy production. The web site promised an update by November last year. That is the most uptodate 'news' on their website (which makes no mention of Oanna or retirement homes). . Now, another feasability study into the possibility of building a retirement settlement of "up to" 140 homes; hardly enough to support the proposed medical centre and supermarket. Never mind, assuming you have a car and are still able to drive you will be able to avail yourself of all the facilities you would expect in the nearby 'town' of Zafarraya (pop. 2,400). Retirees like amenities, medical facilities on hand, infrastructure etc. Just how many people will want to buy a retirement home in the middle of nowhere with sweet f.a. to do ?. This is quite apart from the ludicrous prices they would have to achieve to justify the ridiculous valuations they put on these 'plots'. As I've said before, just how have they kept going for this long without selling anything -- other that bits of worthless land to the naive ?. How are they still getting away with it ?. (It is now quite obvious that the earlier posters Scoons & Zoked Out were plants; they haven't posted since January 2006.).
  10. The fact that people are queueing up overnight is a classic sign of a bubble about to burst.
  11. Heard the same; wouldn't doubt it. Same in Morocco. Now Ian Rush (Liverpool star of yesteryear) has put his name to a development in Cyprus. My prsonal view is that a decent development sells on its' merits. If you need 'celebrity' endorsement that is a VERY good reason for steering clear. Have noticed a number of England rugby players lending their names to various promotions, and a famous boxer doing likewise. Alarm bells. They have risked nothing. Rather like TV property "expert" Sc... .....s, using his 'celebrity' status to push his own company.
  12. Breeze49, Interesting (and VERY long tread) ref. Desert Pearl on the Totally Property forum. Looks like a can of worms, or more accurately a can of sand, which you don't actually own.
  13. Jedi, I think you are lucky that the vendor rejected your revised offer. Even at 20% off you would be paying too much in today's market. I read this advice from a seasoned investor, "If you are not embarrassed by your offer, it's too high !".
  14. Because they are allocated to 'social housing', they can't be let out on the open market.
  15. Golf courses in the Algarve are going to have to drop their prices considerably to compete. I like Portugal (my girlfriend has a villa in the Eastern Algarve) but we both agree that the best value/quality golf holidays are to be had in Belek, Turkey. However, I'm not advocating buying there; the all inclusive hotel packages have the market cornered.
  16. rantblog, I thought I'd been upgraded but the system still won't let me pm you. As I recall you posted your property details on CL as a guest. If you register on there I'll be able to pm you.
  17. M21er, Thank you for the info on the upgrade. The auction actually took place last November, and was a joint effort between Stretton's in London and Antonis Loizou in Cyprus. It wasn't widely publicised and I came across it by accident here: www.propertymall.com/events/auction Unfortunately, there is nothing like nethouseprices or the other sites in Cyprus. It can be years before people get title deeds, so land registry figures are meaningless. As for the new stuff, as you guessed, you'd need to know the developers original offer details. For resales you really need to do a lot of research on the net, in the local press (Cyprus Mail) and, realistically, on the ground to compare asking prices (a far cry from actual sales prices). Some people refer to the BuySell index. BuySell are a commercial organisation with a large data base of listings, and their figures are based on asking prices, not actual sales, apparently. They are not licensed estate agents, but get round the law by saying they are not agents but advertisers !. The number of licensed agents in the ROC is outnumbered 3:1 by the illegal ones, but it seems now the government has to abide by EU regulations steps are being taken to enforce the law. A more accurate reflection of the market is offered by Antonis Loizou: www.aloizou.com.cy/ Unfortunately, the downloadable report is in Greek. Hope this helps.
  18. For whatever reason the board won't let me send you a message.
  19. The most recent auction (September, I think) held simultaneously in Paphos & London, (featuring a fair few new builds, interestingly) listed 34 properties: 3 sold prior to auction, 4 on the day & 1 post auction; 3 did not get a single offer. rantblog, I'll try & p.m. you
  20. rb, You seem to have all the bases covered. The only other outlet I've seen suggested is Dalton's Weekly. Instead of putting a price on it in your ads, why not just invite offers ?. If you've had no interest in 18 months at least this might tempt potential buyers. (Do you have a link to your virtual tour ?. I'm just being nosey). I've bought a plot and am planning to build, but the current economic situation means I may have to drag my heels.
  21. rantblog, I assume there are some figures missing from your price !. The resale market in the ROC is very flat. In fact, according to contacts I have there it is virtually non-existent; one ageny alone has more than 20,000 properties on its' books. Also, agencies concentrate on new build because of higher commission. There is a glut of new properties, as well, not helped by the banks recently limiting their mortgage offerings to 60% of value, Vendors targetting the UK market need to take cogniscence of the economic situation. I'm buying in Cyprus, but the fall in the UK stockmarket and the decline of the pound versus the euro, means my buying power has declined by 20% since last summer and I know of several potential purchasers who have put things on hold because of the change in their circumstances. I've noticed a steady number of sellers taking box ads in the Sunday Times, but at £300 a time this soon adds up. You don't say what marketing you have done so far, but I have seen some vendors recommending Fitzgerald's (based in Paphos); equally, I've seen negative comments. One low cost option would be to advertise on: www.cyprusliving.org There is a company on there who will take photos/make a virtual tour video for a reasonable price which will help promote your property. How much effort you put in to advertising and how much you want to spend is of course,dependent on your circumstances, but if you 'have' to sell, the price needs to be set accordingly. Good luck.
  22. Surely, calling it a 'one bed apartment' is against the Trade Descriptions Act ?. When I first glanced at the blurb I thought it said "Be the first to live in this crapshed" , not 'crashpad'. I think I was right first time. Wasn't this one of the white elephants Inside Track were trying to offload ?.
  23. AA, Being dazzled by the feature fireplaces you missed the major selling point: a concealed space for the washing machine......in the lounge !.
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.