Hello and welcome to the Someplace Else Blog
I'd like to start by thanking all those who came to visit our stands at the recent property shows in London and Birmingham. We were absolutely delighted by the quality and quantity of people that can to speak with us about our new vineyard development in Mendoza, Argentina.
Amid all the financial turmoil and panic in the media, our staff were only too happy to speak face to face with people who were browsing the aisles and calmly considering and questioning the facts and figures put in from them by the various companies attending.
Argentina is where our latest project is located, and regular readers of these newsletters will know that we've been heavily involved in this country for two and a half years, investing millions of dollars in a range of resorts. The main reasons why we like Argentina so much, apart from its diversity and natural beauty, are also reasons why it is very extremely well positioned benefit foreign buyers seeking a safe market to invest their capital.
One of the most interesting aspects of Argentina is the fact that the property boom is not fuelled by lending or foreign speculation. It is down to local demand for both primary and secondary residences where purchasers buy with cash. This lack of mortgage debt has meant that the credit crisis has had hardly any affect on Argentina.
In our opinion, until the credit crisis is resolved, banks start lending to each other and the mortgage markets open up again; the safest places to invest are areas where the property market is not linked to or reliant on mortgages or foreign speculative buyers. Argentina meets the above criteria perfectly.
Our new project, called Dos Rosas, is upscale vineyard development, which combines premium wine, a boutique hotel and residential vineyards in a stunning location in Argentina's Mendoza wine region. With a dual income stream and 12 cases of high quality personalised wine every year, this is undoubtedly one of our most innovative and recession proof investments.
Detailed information can be found by reading below and by DOWNLOADING our full pdf brochure.
Looking forward to your thoughts.
Kind Regards
Colin Murphy
Showing posts with label argentina. Show all posts
Showing posts with label argentina. Show all posts
Friday, October 10, 2008
Monday, January 21, 2008
Global Credit Crunch & Property Markets
Hello and welcome to the Someplace Else Ireland blog.
Let’s start this post with the elephant in the corner that a lot of estate agents will try to avoid discussing with you – the global credit crunch. Started by the subprime lending mess in the USA, it’s now causing great concern among investors and financial institutions all over the world.
It will take time to untangle this complicated financial mess and discover the extent of the damage that’s been done to property markets, but we can forecast that outside the USA, it will probably have the biggest impact on the European property markets that have expanded quickest using an abundance of cheap credit – i.e. Ireland, Spain and the UK. Anybody trying to lure investors into these property markets in 2008 is going to have a very tough time doing so as I simply can't see any point investing in them. It will take years for these markets to recover, and those suffering most will be young first time buyers facing negative equity and increasingly difficult mortgage payments.
With the worlds biggest and most developed economies (USA, Japan, UK, France) all performing woefully, isn’t it ironic that we are now relying on the new emerging market consumer giants of China, Brazil, Russia, India and the Central & Eastern European countries to drive the global economy in 2008 and beyond? The concept of what is risky and what isn’t has completely been turned on its head – investment experts across all financial categories now consider emerging markets to be safe havens!
What is certain is that investors will have access to less credit in 2008 than they had in 2004-2007. This certainly won’t stop them investing, although it will probably mean that they invest a little bit less in total. Overall however, we will see large increases in the amount of capital flowing into emerging property markets and the opposite in the troubled Western European and US markets.
So, how are the markets Someplace Else promotes likely to fare next year? Argentina is on a roll at the moment, with consumer confidence reaching new highs and its robust recovery set to continue with the election of Cristina Kirchner last October. 2007 was a great year for Someplace Else’s Belize operation, with our Bella Maya resort winning Gold at the Homes Overseas Awards. Following unprecedented sales of land plots and cabanas, construction is also due to begin shortly on our 1000-acre ecological resort – The Belize Reserve.
Romania is going to be huge in 2008, and the investment activity in the last six months has been simply unbelievable. Outside of Bucharest, the secondary cities of Cluj, Brasov and Iasi will all be the lucky recipients of larges amounts of foreign capital. What about Berlin? In my opinion (with the possible exception of Buenos Aires), this is the most undervalued capital city in the world. It definitely falls into the long-term investment category, but the capital city of the world’s third biggest economy will not always contain property that is five times cheaper than London, Paris and Dublin.
Kind Regards
Colin Murphy
Let’s start this post with the elephant in the corner that a lot of estate agents will try to avoid discussing with you – the global credit crunch. Started by the subprime lending mess in the USA, it’s now causing great concern among investors and financial institutions all over the world.
It will take time to untangle this complicated financial mess and discover the extent of the damage that’s been done to property markets, but we can forecast that outside the USA, it will probably have the biggest impact on the European property markets that have expanded quickest using an abundance of cheap credit – i.e. Ireland, Spain and the UK. Anybody trying to lure investors into these property markets in 2008 is going to have a very tough time doing so as I simply can't see any point investing in them. It will take years for these markets to recover, and those suffering most will be young first time buyers facing negative equity and increasingly difficult mortgage payments.
With the worlds biggest and most developed economies (USA, Japan, UK, France) all performing woefully, isn’t it ironic that we are now relying on the new emerging market consumer giants of China, Brazil, Russia, India and the Central & Eastern European countries to drive the global economy in 2008 and beyond? The concept of what is risky and what isn’t has completely been turned on its head – investment experts across all financial categories now consider emerging markets to be safe havens!
What is certain is that investors will have access to less credit in 2008 than they had in 2004-2007. This certainly won’t stop them investing, although it will probably mean that they invest a little bit less in total. Overall however, we will see large increases in the amount of capital flowing into emerging property markets and the opposite in the troubled Western European and US markets.
So, how are the markets Someplace Else promotes likely to fare next year? Argentina is on a roll at the moment, with consumer confidence reaching new highs and its robust recovery set to continue with the election of Cristina Kirchner last October. 2007 was a great year for Someplace Else’s Belize operation, with our Bella Maya resort winning Gold at the Homes Overseas Awards. Following unprecedented sales of land plots and cabanas, construction is also due to begin shortly on our 1000-acre ecological resort – The Belize Reserve.
Romania is going to be huge in 2008, and the investment activity in the last six months has been simply unbelievable. Outside of Bucharest, the secondary cities of Cluj, Brasov and Iasi will all be the lucky recipients of larges amounts of foreign capital. What about Berlin? In my opinion (with the possible exception of Buenos Aires), this is the most undervalued capital city in the world. It definitely falls into the long-term investment category, but the capital city of the world’s third biggest economy will not always contain property that is five times cheaper than London, Paris and Dublin.
Kind Regards
Colin Murphy
Director
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