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About magnate

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  1. No.Not at all like other markets such as Bulgaria, Morocco et al.These will never be world leaders.Take a look at some of the projections for Brazil by Goldman Sachs etc.It is self sufficient in many areas and possesses enormous reserves of natural resources.There are over a million millionares in Brazil and it is also characterised by the strong emergence of its middle classes.Add the forthcoming mortgages to the mix and you have a potentially explosive growth cocktail.
  2. The boom is far from over in Brazil.On the contrary,it has barely started. When property prices rise to levels akin to the Caribbean (and the locals do not earn much there either) that is the appropriate time to insert a check step. At just over 8 hours from Gatwick, the same year round gorgeous weather, great beaches,but without the extreme conditions like tropical storms and hurricanes and properties at approx a quarter of the price,overlook this emerging lifestyle destination at your own loss.
  3. It would appear that with hindsight when you decided upon Morocco in favour of Brazil you went for the wrong option. I bought a 3 bed property in Porto Dos Corais Maracajau in Jan of last year for 93,000 Euros and assigned the contract 2 weeks ago for 122,000 Euros. Not a vast profit admitedly but certainly better than i would have been able to achieve had i pressed ahead with the reservation deposit i placed on an apartment on Med Saidia. I am not sure if this is typical as there do not appear to be many resales to compare,so i can only relate my own experience.
  4. Contracts may be assigned any time after the first 30% stage payment.
  5. Jonrob, You should have few concerns about the rental potential in the early days.As a generalisation ,the N.E.of Brazil is a capital appreciation play and your gains will more than compensate.Regard any income as a welcome bonus. As i stated 10 days ago these prices would not be maintained at this low level and anyone conducting even the most superficial comparative analysis would have been able to rapidly verify. The front line golf penthouses on Marginata have now risen in price by 23% and the sea view by a massive 31%
  6. Dogbox In that case i do NOT get it. Sure i see the vision-In fact it would work extremely well in central Florida.I just don't think that N.Morroco is an appropriate place for it.I guess we will again agree to differ. I really would not place too much faith in P.L's evaluation of the terrorism bounce phenomenon with reference to the Red Sea Riviera.The visitor profile is entirely different. Sharm is a divers destination frequented by the young hedonistic fraternity -the majority of who could probably not even name the leader of the opposition ie-little interest or awareness in politics,knowledge of previous incidents etc. In contrast,Saidia, if we are to believe the projections ,will attract a more mature upmarket element.These will have a more acute insight,longer memories and will be more paternalistic in orientation.Their footloose and fancy free days well behind them,these people will have families and all the associated responsibilities. Their priorities will be very different and geared towards protecting the unit,not subjecting it uneccessarily to perceived danger. Unlike Sharm,therefore,it is unlikely Saidia would recover.Rental income and bookings would dive.Many owners would be forced to sell and the spiral of decline would be self perpetuating. Sorry,still do not get it.
  7. Dogbox I have no desire to restart the epic Morroco debate-i think we have already agreed to differ in that regard. Just a couple of aspects i can't let ride without comment however. N.Morroco is not even close to a year round season-believe me when i say you will need to buy a thick camel hair overcoat.If you really MUST buy in Morroco ,and are seeking a long season ,i would recommend TanTan-quite simply the best weather AND best beaches.Lack of infrastructure right now but Orascom have committed-you can also anticipate a far better quality of build from these than anything Fadesa could conceive,let alone build. Neither do i think it wise to be so dismissive of the terrorism aspect.A nonchulent shrug of the shoulders is complacent.I hate to say it ,but i would regard Med Saidia as especially vulnerable.To begin with Morroco itself is a hot bed breeding ground.Additionally,it is possible to literally throw a stone from the (OPEN!) Algerian border and land it on the beach at Saidia. The trouble has in the past been limited to the Southern part of Algeria but that has now changed with an ever increasing number atrocities in the North too. The Kings vision and sheer pace of the Westernisation process is absolute anathema to the fundementalists.Increasing numbers of cowardly infidels,loose women vulgarly parading themselves in their cities and beaches,etc and now even women priests- for the love of Mohammed,whatever next! They just can't handle it -the repercussions of which are regretably all too familiar and highly likely to become even more so. Do not misundertand me here. This scenario deeply disturbs me-i am just calling it as i see it. What better way to give the King a bloody nose than to actively target his pet project? Then how much will your investment be worth?Why even risk it-the reward ratio is simply not worth it! It is not as though you are even likely to achieve a decent rental income or capital appreciation there anyway-the basic laws of supply and demand will see to that-just too many beds and oversized hotels on site. The signs have been evident for some time for those perceptive enough to extricate themselves from self denial.It is possible to purchase a resale right now at early off plan price point.Cut your losses now and buy another two Travellers at Golden Palm-you have quite rightly identified the outstanding potential here previously.This is an emminently more sensible home for your hard earned money.
  8. This is not in itself a sufficiently strong reason not to invest in Thailand. It can be neatly and legally circumvented by a 30 year renewable lease ad infinitum which facilitates control and is also incidentally highly tax efficient. Personally i think Thailand and Samui in particular is an excellent recovery play-there is a huge unrealised demand due to governmental lack of policy clarity. Hua Hin is also a smart choice though Phuket,Pattaya and Chiang Mai are best avoided.
  9. Lina,With respect,you invited opinions and that is what you have got. Do not allow the somewhat abrasive terminology of the other guys posting to detract from its content which whilst ineloquent ,is fundamentally correct. The gimmicky marketing angle is an abysmal,and futile attempt to disguise its poor value,and i regret to say that your argument that it appears good value with reference to Marrakech is a fatally flawed recipe for impending disaster.You may as well say that you are purchasing in Grimsby because it looks good value when compared to Greater London. The only meaningful benchmark for market rate in Fes is ...err...Fes and the property is well overpriced.Be realistic-how else do you think they are funding the "guarantee",buy back,free flights etc? Why in heavens sake are you considering investing 100k in Morroco anyway?There are 101 more appropriate places where tourism and investment is actively embraced with genuine friendly,welcoming locals who share our values and who also offer permanent governmental tax concessions. The cement is scarcely dry on the first course of brickwork and the government are already backtracking on some of the promises to foreign investors. Morrocans welcome Westerners through gritted teeth in the full knowledge this is their only option to elevate themselves from third world living conditions.Substitute "magical","exotic","chic"glossy brochure mentality for abject poverty,resentment,rising crime,and terrorism.This is a high risk ,low reward destination and will shortly enjoy the accolade of achieving in a few short years what has taken Spain 30 years to achieve-oversupply. If you have 100k+ to invest ,are happy with only 2 weeks personal use(and i wouldnt be for that amount of expenditure) and like the concept of a guaranteed rental take a look at Banyan Curve or similar.You will obtain 8% here for 13 years based on a realistic property valuation and actual rental income achieved -not inflated hype where you are merely receiving your own money back(and being taxed on it) Better still,acquire a property offering good fundementals and genuine potential and you can dispense with "guarantees" altogether-quite simply,the smart buys dont need them and the best properties do not offer them. If however, after having conducted even a modicom of due dilligence in respect of Fes, you still regard that to be a "fantastic deal"you may be interested to know that i have some magic beans for sale.
  10. A grossly inflated purchase price and a buy back after 9 years of only the original price paid is a very poor deal. Keep your funds in the bank and wait for something decent to emerge.
  11. Rondy-I would have thought that by now you may have developed at least a modicom of ability to control your innate urge to continually shoot yourself in the foot-your predictions are about as accurate as a dyslexic weatherman waving a wet finger in the air.Pretty soon you are going to need a wheelchair to get around. Lots of developments like this in N.E Brazil?-this is a real mould breaker for the region and raises the bar by a significant degree. How many developments do you think will have the following? FIVE golf course,(professionally designed,PGA) Celebrity,high profile marketing.(Antonio Banderas,Ronaldo-the Brazilian one ie) Ronaldo soccer school academy. True Beachfront villas. and apartments. Aesthetically pleasing, well designed sea view apartments with huge balconies/terrace areas(most designs and external space in this region are challenged to say the least) Highly competitive early stage price points. Tennis,gyms,fitness,equestrian,shopping centres,spas,pools,and much more. Less than 15 minutes from Augusto Severo International airport and just 10 minutes from Natal city itself. Bank guarantee from Barclays. Established developer with track record. Just 30% required prior to final completion payment. A two bed luxury penthouse apartment here with a huge 200M2 of combined internal/external space with either front line golf or sea views is currently available at just over 80K!! Replicate that elsewhere if you can.Oh and btw don't forget to factor in the Tropical climate, yet without the hurricanes and Tsunamis,no bombs and terrorists to shatter your dreams, low crime rate,the freshest air on the planet, and all within a tax friendly environment with dual taxation treaties and just 7 hours from Europe.These highly attractive combinations simply do not exist elsewhere. There is no way the price will be held at this low level.This is pure launch price and stacks up to anything on a WORLDWIDE,let alone a regional basis. Best of luck to you Australiainvest and anyone else who has the foresight and acumen to invest here early.
  12. Dogbox, Seems that we have at last found some common ground after our Saidia epics! I am 100% in agreement with you on this one and have also purchased a one bed here-it is one of the best opportunities i have encountered in quite some time. I must confess i picked up on this one a little later in the day than normal and only had the option of a Travellers Palm.Well located as it is,i have a strong preference for a 2 bed and wondered whether either you or anyone else may be interested in trying to procure a 2 bed cancellation as co-owners ,rather than individually owning the smaller units. Not only would it lower the entry point,but it would also provide additional flexibility for inviting friends and family. Would be interested in your thoughts.
  13. I visited both sites within 2 weeks of each other and Sahl Hasheesh was quite simply in a different class altogether.The beach and sea are far superior -genuine sparkling clear turquoise/blue clear water akin to the Maldives as opposed Saidias murky greys. Similairly,the architecture displays genuine flair at Sahl and the topography lends itself well to some very interesting and creative design possibilities as the land slopes upwards from the sea.This elevated topography will create superb views over the bay with its picturesque mountain backdrop.Regretably,in comparison Saidia is flat and uninteresting. Regarding Rondy's comment that as Egypt was "far,expensive to fly to ,and unbearably hot in Summer" he would instead be going to......... Dubai !,well i thought my sides were going to split. Could this possibly be the same Rondy that was rubbishing my posts and prediction back in Feb that prices at Sahl Hasheesh would rise by 20% over the next 12 months? Seems i was wrong here after all-it has happened in 12 weeks not 12 months.
  14. Anyone interested in considering the possibility of shared ownership here as opposed to sole? It would appear to offer a very sensible strategy in that all costs(and risks )are dramatically reduced. Sahl Hasheesh in particular is a very attractive destination and this mode of ownership is already extremely popular in the States.It is only a matter of time before it gains popularity in Europe and is increasingly becoming the focus of attention in the press as a workable solution to the often onerous purchase and ongoing maintenance costs of overseas ownership. I would be very interested in the views of others in general terms but also with specific reference to Sahl Hasheesh.
  15. The greater the consideration i devote to this, on the contrary,the more convinced i become that the vast majority will NOT make money in Morocco. I have always maintained that this is a high risk play,and not one suitable for the first time investor. Within the context of the location,Plan Azur, and Med Saidia in particular,whilst highly commendable in conceptual terms,is quite simply,overly ambitious. Many have identified terrorism as being a major concern,though i would suggest that whilst this may well be an issue,,prospective owners have more to fear from fundementals as opposed to fundementalists. To pursue an analogy-Saidia is reminiscant of Costners "Field of Dreams" where a backward farmer hears voices urging him to build a baseball stadium in one of his remote fields."Build it and they will come" The visitors the farmer received were ghosts and i fear an identical fate awaits investors. There will not be sufficient demand created in the short term to make the numbers work.The largely inexperienced investor led owner base will become disillusioned with the early rental yield and respond by slashing rent and attempting to sell.This will create a spiral of decline with no exit strategy.The artificially inflated prices have no local demand underpinning and prices will tumble to levels beneath current off plan.Low cost airlines are not generally famed for their philanthropism and routes will be uncerimoniously axed.pulling the life machine plug.Investors could well be left with just a pile of bricks under the hot African sun. Regretably,unlike Costners film ,this is not fiction and is a likely scenario.Neither does the LJDF developer inspire confidence in this regard.By way of illustration,presumably the large deposits taken have been reinvested in their next project in Morocco reinforcing their ongoing faith in the country? Again regretably not,the money has been used to purchase an island off the coast of ......Brazil!
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