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Place In The Sun: 'cape Verde Prices Will Rise 75%'


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Amanda Lamb, like Krusty and Phil, has alot to answer for. Honesty, how can these so-called experts get away with doing this to peoples lives.

http://blogs.thisismoney.co.uk/this_is_mon...caprise-75.html

This is Money Blog

April 10, 2009

Place in the Sun: 'Cape Verde prices will rise 75%'

It's incredible that Channel 4 still has the temerity to show repeats of A Place in the Sun, fronted by Amanda Lamb (pictured) or Jasmine Harman - in particular, the classic episodes where they spur on hapless buyers to snap up great 'investments'.

As readers of this blog will know that property optimists have always been on my (fun) list of pet hates, so I can't resist watching this sort of property porn just so I can throw things at the telly. [How we warned against Amanda Lamb's Eastern Europe 'hot tips' in 2006]

Tonight presenter Jasmine Harman told one such couple of how unnamed 'experts' - aka property deveolopers - 'expect prices in Cape Verde to appreciate 75% in the next five years'. This was a repeat from the summer of 2007.

These wide-eyed bubble-riding unfortunates only had £200,000 to spend on a property. They ended up buying one flat, one townhouse and, er, one 'film star mansion'. They spent double that. Oh but hang on, they weren't really buying it because it was only a deposit on the mansion and the rest would get cleared by the money they would make on the rising prices of the other properties. Prices have since fallen 15% to 20%.

The programme unwittingly and perfectly captures the bizarre mentality of people at the peak of an investment bubble.

They weren't the only victims caught out by this dangerous multi-property buying tactic in Cape Verde.

A story last month in the Daily Mail about former Bucks Fizz singer Cheryl Baker...

In early 2007 she and Steve snapped up another one-bedroom, beachfront apartment for £125,000 in Santa Maria, the main resort on Sal. The intention was to let it rise in value and sell later this year, using any profits to help pay the outstanding-balance on the other property, but the global recession ended that plan. [sound familiar?]

Cape Verde specialist Adrian Lilywhite, based in Windsor, Berkshire, reckons property on popular Sal will have fared better than other Cape Verde islands. But he thinks prices of new-build homes will have fallen by an average 15 per cent, particularly in the light of a handful of distress sales now that some owners cannot afford to pay the balance.

For the record, Jasmine's property credentials are 10 years of working in luxury health clubs. Like her colleagues she has always loved to drop in the odd mention of 'great investment', but she's less culpable than some. She was just one more 'expert' to get swept up in the furore. [The property blame game: Amanda Lamb vs Kirstie Allsopp]

- Andrew Oxlade, Editor, This is Money

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Amanda Lamb, like Krusty and Phil, has alot to answer for. Honesty, how can these so-called experts get away with doing this to peoples lives.

http://blogs.thisismoney.co.uk/this_is_mon...caprise-75.html

This is Money Blog

April 10, 2009

Place in the Sun: 'Cape Verde prices will rise 75%'

It's incredible that Channel 4 still has the temerity to show repeats of A Place in the Sun, fronted by Amanda Lamb (pictured) or Jasmine Harman - in particular, the classic episodes where they spur on hapless buyers to snap up great 'investments'.

As readers of this blog will know that property optimists have always been on my (fun) list of pet hates, so I can't resist watching this sort of property porn just so I can throw things at the telly. [How we warned against Amanda Lamb's Eastern Europe 'hot tips' in 2006]

Tonight presenter Jasmine Harman told one such couple of how unnamed 'experts' - aka property deveolopers - 'expect prices in Cape Verde to appreciate 75% in the next five years'. This was a repeat from the summer of 2007.

These wide-eyed bubble-riding unfortunates only had £200,000 to spend on a property. They ended up buying one flat, one townhouse and, er, one 'film star mansion'. They spent double that. Oh but hang on, they weren't really buying it because it was only a deposit on the mansion and the rest would get cleared by the money they would make on the rising prices of the other properties. Prices have since fallen 15% to 20%.

The programme unwittingly and perfectly captures the bizarre mentality of people at the peak of an investment bubble.

They weren't the only victims caught out by this dangerous multi-property buying tactic in Cape Verde.

A story last month in the Daily Mail about former Bucks Fizz singer Cheryl Baker...

In early 2007 she and Steve snapped up another one-bedroom, beachfront apartment for £125,000 in Santa Maria, the main resort on Sal. The intention was to let it rise in value and sell later this year, using any profits to help pay the outstanding-balance on the other property, but the global recession ended that plan. [sound familiar?]

Cape Verde specialist Adrian Lilywhite, based in Windsor, Berkshire, reckons property on popular Sal will have fared better than other Cape Verde islands. But he thinks prices of new-build homes will have fallen by an average 15 per cent, particularly in the light of a handful of distress sales now that some owners cannot afford to pay the balance.

For the record, Jasmine's property credentials are 10 years of working in luxury health clubs. Like her colleagues she has always loved to drop in the odd mention of 'great investment', but she's less culpable than some. She was just one more 'expert' to get swept up in the furore. [The property blame game: Amanda Lamb vs Kirstie Allsopp]

- Andrew Oxlade, Editor, This is Money

Cape Verde is a dead duck .Have you seen the price of the flights?

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In addition to the points already made, the program was complete insanity. Who in their right mind would visit a country or town they had never been to before and buy a property straightaway ? Anybody in their right mind would rent or stay in a hotel for a few weeks and take their time. Also the property "experts" on the program are a joke. The "expert" said about Cape Verde dont stay in a property with a nice view if it is not convenient for amenities - doh why didnt I think of that ! Also she said the local inhabitants are happy because property prices are going up - well I would be very angry if i were a local who was not already a property owner as i may get priced out of the market by the Brits.

It is just fetishishation of property ownership of the worst kind. What about programs helping people who want to rent or survive on Job Seekers Allowance for example ? Why are propery purchasers considered to need special help. Not that the help is worthwhile anyway.

This program was presumably made a while ago when prices were still rising yet even on the latest series of Location, Location, Location a few weeks back Phil was saying that buying a flat in Berlin should be a good investment - a highly dubious thing to say.

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In addition to the points already made, the program was complete insanity. Who in their right mind would visit a country or town they had never been to before and buy a property straightaway ? Anybody in their right mind would rent or stay in a hotel for a few weeks and take their time. Also the property "experts" on the program are a joke. The "expert" said about Cape Verde dont stay in a property with a nice view if it is not convenient for amenities - doh why didnt I think of that ! Also she said the local inhabitants are happy because property prices are going up - well I would be very angry if i were a local who was not already a property owner as i may get priced out of the market by the Brits.

It is just fetishishation of property ownership of the worst kind. What about programs helping people who want to rent or survive on Job Seekers Allowance for example ? Why are propery purchasers considered to need special help. Not that the help is worthwhile anyway.

This program was presumably made a while ago when prices were still rising yet even on the latest series of Location, Location, Location a few weeks back Phil was saying that buying a flat in Berlin should be a good investment - a highly dubious thing to say.

because, its nice to see the foreign climes, the presenters get a free trip abroad as do the punters, the viewer gets a dream put in his head, everyone is a winner.

except the poor locals, of course. and the dummies caught in this "shoeshine boy" recomendation

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Its time the FSA and the Ofcom got off their backsides and fined Channel 4 so badly it would end up, only being able to show the test card.

All these property "investment" shows should have FSA warnings before, during and when finishing. And all the presenters should me forced to disclose their vested interests.

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Its time the FSA and the Ofcom got off their backsides and fined Channel 4 so badly it would end up, only being able to show the test card.

All these property "investment" shows should have FSA warnings before, during and when finishing. And all the presenters should me forced to disclose their vested interests.

I agree a few complaints to OFCOM should be placed .. it downright irresponsible

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Amanda Lamb, like Krusty and Phil, has alot to answer for. Honesty, how can these so-called experts get away with doing this to peoples lives.

http://blogs.thisismoney.co.uk/this_is_mon...caprise-75.html

This is Money Blog

April 10, 2009

Place in the Sun: 'Cape Verde prices will rise 75%'

It's incredible that Channel 4 still has the temerity to show repeats of A Place in the Sun, fronted by Amanda Lamb (pictured) or Jasmine Harman - in particular, the classic episodes where they spur on hapless buyers to snap up great 'investments'.

As readers of this blog will know that property optimists have always been on my (fun) list of pet hates, so I can't resist watching this sort of property porn just so I can throw things at the telly. [How we warned against Amanda Lamb's Eastern Europe 'hot tips' in 2006]

Tonight presenter Jasmine Harman told one such couple of how unnamed 'experts' - aka property deveolopers - 'expect prices in Cape Verde to appreciate 75% in the next five years'. This was a repeat from the summer of 2007.

These wide-eyed bubble-riding unfortunates only had £200,000 to spend on a property. They ended up buying one flat, one townhouse and, er, one 'film star mansion'. They spent double that. Oh but hang on, they weren't really buying it because it was only a deposit on the mansion and the rest would get cleared by the money they would make on the rising prices of the other properties. Prices have since fallen 15% to 20%.

The programme unwittingly and perfectly captures the bizarre mentality of people at the peak of an investment bubble.

They weren't the only victims caught out by this dangerous multi-property buying tactic in Cape Verde.

A story last month in the Daily Mail about former Bucks Fizz singer Cheryl Baker...

In early 2007 she and Steve snapped up another one-bedroom, beachfront apartment for £125,000 in Santa Maria, the main resort on Sal. The intention was to let it rise in value and sell later this year, using any profits to help pay the outstanding-balance on the other property, but the global recession ended that plan. [sound familiar?]

Cape Verde specialist Adrian Lilywhite, based in Windsor, Berkshire, reckons property on popular Sal will have fared better than other Cape Verde islands. But he thinks prices of new-build homes will have fallen by an average 15 per cent, particularly in the light of a handful of distress sales now that some owners cannot afford to pay the balance.

For the record, Jasmine's property credentials are 10 years of working in luxury health clubs. Like her colleagues she has always loved to drop in the odd mention of 'great investment', but she's less culpable than some. She was just one more 'expert' to get swept up in the furore. [The property blame game: Amanda Lamb vs Kirstie Allsopp]

- Andrew Oxlade, Editor, This is Money

It was the Irish who were the biggest "investors" in Cape Verde.

Says it all, really, doesn't it?

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In addition to the points already made, the program was complete insanity. Who in their right mind would visit a country or town they had never been to before and buy a property straightaway ? Anybody in their right mind would rent or stay in a hotel for a few weeks and take their time. Also the property "experts" on the program are a joke. The "expert" said about Cape Verde dont stay in a property with a nice view if it is not convenient for amenities - doh why didnt I think of that ! Also she said the local inhabitants are happy because property prices are going up - well I would be very angry if i were a local who was not already a property owner as i may get priced out of the market by the Brits.

It is just fetishishation of property ownership of the worst kind. What about programs helping people who want to rent or survive on Job Seekers Allowance for example ? Why are propery purchasers considered to need special help. Not that the help is worthwhile anyway.

This program was presumably made a while ago when prices were still rising yet even on the latest series of Location, Location, Location a few weeks back Phil was saying that buying a flat in Berlin should be a good investment - a highly dubious thing to say.

Oh yes...beware of this...

I know several overseas property companies that are now ramping Berlin like crazy. They must have bunged Phil along the way.

All the ex-IFAs that got into selling overseas property 'investments' in places like Spain, Portugal, Cape Verde and Egypt are all now 'going respectable' by offering 'sensible' urban properties in 'stable' cities.

Same wolves, different clothing.

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I hadn't see apits for years - but I did see the end of this one.

The Cape Verde prices were cheap. The couple deciding whether to buy a property there or in Wales in the end got caught up in the whole bubble thing and bought 3!!!

One as "an investment"..may have to go in 50% with a friend.

One as a holiday/retirement home.

And one (wait for it) to rent out to pay the mortgage on the others. :lol::lol::lol:

And they said they were going to "buy off plan" so they didn't have to put the money up straight away.

And they said a lot of buildings on Cape Verde are left unfinished because there is a punitive finishing tax. :lol:

Magic money. Magic money.

If they are going to repeat these shows from the bygone years of the boom, they might at least do a brief "follow up" piece about what actually happened to this couple.

Did they buy all these places in the end?

Did they move there? If so, how are they finding it?

Did they put a deposit down on the new-builds and end up losing it?

Did it all even get built? Etc?

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Place in the Sun: 'Cape Verde prices will rise 75%'

It's incredible that Channel 4 still has the temerity to show repeats of A Place in the Sun, fronted by Amanda Lamb (pictured) or Jasmine Harman - in particular, the classic episodes where they spur on hapless buyers to snap up great 'investments'.

I actually see these programs as eye openers. Oh look you can have a horrible terrace in birmingham for £200k, or in the sun that buys you a 6 bedroom villa with swimming pool and 1/4 acre of land.

I love watching the couples surprised "this is in our budget" Yes u loon, its the UK that is stupid prices :rolleyes:

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