Well, it's certainly been a dramatic couple of weeks. The major governments and bankers have finally starting acting in concert. Let us sincerely hope that the coordinated interest rate cut yesterday combined with government bailouts and capital injections will steady the markets again. However, I think they're going to have to cut interest rates by as much as another point.
Telling it like it is
With many companies, both inside and outside the property industry, keeping their proverbial heads down until the economic skies are clear, I thought I'd do the opposite by telling you a little bit more about how Someplace Else have been doing over the last couple of months, and what our future plans are going to be.
There's nothing particularly special about Someplace Else Ireland and we've no closely guarded secret strategy. However we have always run a tight ship - before, during and after the boom times. We don't have dozens of costly admin and marketing staff on the payroll, we don't have plush offices that cost a small fortune to maintain, we don't hire celebrities to endorse our products, we don't waste money in glossy ego driven adverts in the national press or radio and we don't pay PR companies a fortune to make us feel good about ourselves.
Not doing any of the above means we can spend a lot more time (and money) on website improvements and optimisation, google campaigns, staff training, customer service, newsletter design, targeted emails, research, travelling to new locations, launching diverse new products, packaging them in an investor friendly way, meeting and forming exclusive partnerships with developers, lawyers, tax advisors and mortgage brokers etc. and finally - more research.
Recent Company Performance
Because we do all this and because we have very close relationships with so many investors - the recession and general gloom in the market hasn't caused our revenues to drop at all. In fact, we've sold more properties in more locations in the last three months than we did for the same period last year.
So what are we doing next?
1. Argentina
As you may have noticed last week, we've launched a very innovative vineyard product in Argentina (see main image above), which has two revenue streams and provides buyers with a lifetime supply of high quality and personalised wine - which, by the way, has proven to be an extremely recession proof industry. See detailed description below or download brochure.
2. Berlin
A bit closer to home, I'm very much looking forward to launching our new Berlin product. It's called PP Rubens, it's located in Schoneberg in the west of the city, and it comes with 10 year rental, maintenance, management and modernization guarantees. Prices start at just EUR 87,588. Download Preview.
3. Florida
Florida is another area I've been paying very close attention to lately, and many commentators (including myself) feel that the bottom of the market has almost been reached. We will shortly be launching a consultancy and management service for investors seeking to purchase foreclosed properties.
Properties like these will generate a positive cash flow at a fraction (30 to 40 cents on the dollar) of their previous market value. We've put together a short preview document which can be downloaded here. You'll need to email me personally if you are interested learning more about these opportunities and you'll need to be prepared to pay in cash and to move quickly.
4. Panama
The complete Fortune Plaza brochure is finally ready and can be downloaded here. This is one of Panama's finest hands off investment opportunities. Panama stacks up as an investment destination in so many ways as it has an extremely diverse and business friendly economy, it is a tax haven, and it benefits from strong trade relationships with both developed and emerging economies.
Quick Summary:
- Dos Rosas Vineyard Argentina: Download Brochure
- PP Rubens Berlin: Download Factsheet
- Florida Foreclosure Opportunities: Download Preview
- Fortune Plaza, Panama: Download Brochure
Keeping in touch
As always, myself and my colleagues are available to speak with and answer questions from new and existing clients. Our Dawson Street (Dublin) and Fulham (London) offices are always open for those who'd like to drop by and say hello.
I hope the above has been of some use, and I'll look forward to hearing from you soon.
Warm Regards,
Colin Murphy
Director
Someplace Else Ireland
Showing posts with label property argentina. Show all posts
Showing posts with label property argentina. Show all posts
Friday, October 10, 2008
Thursday, February 14, 2008
Latin American Investment - 2008
Hello and welcome to the Someplace Else Ireland blog.
If any of our readers are thinking about attending this weekends Sunday Busines Post Expo in the RDS, we’d be absolutely delighted to meet with you. More details on opening times, our stand location and my emerging market seminars are below.
But back to business – last week some of you might remember that I spoke about the much stricter lending conditions Irish and UK property buyers are facing at home and how lending conditions in countries like Romania with much lower mortgage debts and booming economies are the complete opposite.
There is another category of countries I’d recommend investors study closely – those who don’t yet offer reasonable mortgage products to locals or foreigners but could be doing so in the very near future. If you can locate a market with a fast growing ecomony, low property ownership, relatively high but falling interest rates and a government that implements sensible fiscal policies then it is probably only a matter of time before affordable financing become available.
Can anybody remember what happened in the Baltics 4-5 years ago? Interest rates in the region fell from 12% to 4% enabling banks to offer mortgage products to hundreds of thousands of people who previously would never have been able to afford to buy a property with savings alone. The supply of new property more or less stayed the same while demand shot up dramatically. Result? Property prices increasing 30-40% per year. Someplace Else investors made a fortune because we were the first into the market.
Take a closer look at the much bigger and more powerful Brazil – banks don’t yet offer financing to foreigners but an economic boom and easier credit terms for locals have caused a “consumption frenzy” as millions of Brazilians qualify for loans for the first time. The people that are now taking out loans to buy new cars will eventually take them out to buy new houses.
Or take Argentina – ultra modern tower blocks are springing up all over Buenos Aires and the vast majority of them are snapped up by well heeled locals buying with cash. Think about that for a moment – there is a property boom in Argentina being driven not by overseas investors but by Argentineans buying with cash. When lower interest mortgages become available to Argentinean professionals who don’t have $150,000 in cash lying around, property prices will absolutely soar.
What I’m writing here will be nothing new to adventurous Irish investors, in the last three months alone I’ve met Irish people who own hundreds of city centre apartments and thousands of acres of land. I also spoke to a gentleman last week who is planning to buy 100,000 hectares in Bolivia.
Want to learn more about €60,000 apartments and land with planning permission for $11 per square metre? Just give us a call - 1890 425 425.
Best Regards
Colin Murphy
Director
Someplace Else Ireland Ltd
If any of our readers are thinking about attending this weekends Sunday Busines Post Expo in the RDS, we’d be absolutely delighted to meet with you. More details on opening times, our stand location and my emerging market seminars are below.
But back to business – last week some of you might remember that I spoke about the much stricter lending conditions Irish and UK property buyers are facing at home and how lending conditions in countries like Romania with much lower mortgage debts and booming economies are the complete opposite.
There is another category of countries I’d recommend investors study closely – those who don’t yet offer reasonable mortgage products to locals or foreigners but could be doing so in the very near future. If you can locate a market with a fast growing ecomony, low property ownership, relatively high but falling interest rates and a government that implements sensible fiscal policies then it is probably only a matter of time before affordable financing become available.
Can anybody remember what happened in the Baltics 4-5 years ago? Interest rates in the region fell from 12% to 4% enabling banks to offer mortgage products to hundreds of thousands of people who previously would never have been able to afford to buy a property with savings alone. The supply of new property more or less stayed the same while demand shot up dramatically. Result? Property prices increasing 30-40% per year. Someplace Else investors made a fortune because we were the first into the market.
Take a closer look at the much bigger and more powerful Brazil – banks don’t yet offer financing to foreigners but an economic boom and easier credit terms for locals have caused a “consumption frenzy” as millions of Brazilians qualify for loans for the first time. The people that are now taking out loans to buy new cars will eventually take them out to buy new houses.
Or take Argentina – ultra modern tower blocks are springing up all over Buenos Aires and the vast majority of them are snapped up by well heeled locals buying with cash. Think about that for a moment – there is a property boom in Argentina being driven not by overseas investors but by Argentineans buying with cash. When lower interest mortgages become available to Argentinean professionals who don’t have $150,000 in cash lying around, property prices will absolutely soar.
What I’m writing here will be nothing new to adventurous Irish investors, in the last three months alone I’ve met Irish people who own hundreds of city centre apartments and thousands of acres of land. I also spoke to a gentleman last week who is planning to buy 100,000 hectares in Bolivia.
Want to learn more about €60,000 apartments and land with planning permission for $11 per square metre? Just give us a call - 1890 425 425.
Best Regards
Colin Murphy
Director
Someplace Else Ireland Ltd
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