Dubai International City Smells Awful!!!!!

While the title of this thread may be a little too blunt, “Dubai Expert ” has brought a number of discussions to the table.  The first being the relationship between the local authorities (who operate the sewage works) and the developers who are changing the face of the “International City”, and secondly the need to have someone on the ground who can alert you to such issues.  There is no doubt that the constant smell of sewage from the local plant will have an impact upon property prices - simple levels of supply and demand - and something needs to be done.  It also brings up an interesting observation, did the developers not check what was happening around the area, and ultimately do they have any liability?

There is no doubt that the location of the sewage works is having a major impact upon people already living in the effected areas, and driving away possible property investors.  It does also highlight the apparent lack of communication between all parties involved, which is allowing rumours to circulate unchecked.  Any substantial property development  is a joint partnership between both the developers and the local authorities, and the communication lines need to be clear.   Unless both parties are pulling in the same direction, there is potential for enormous harm to not only the local property market, but business in the areas as well.

Brazil Flight Information!!

While this thread from “deedee1” initially started out asking for information about flights to Brazil, it has grown into an all round discussion about the attraction of the country for property investors.  The flight situation is well covered, but there seems to be some differences of opinion about the idea of investing in the country, whether this should be sooner, or later when the country becomes more accessible.  It seems from some of the figures stated that the economy is growing and the employment market is strong - all important ingredients for success.  A very popular thread which seems as though it still has some way to run!

Brazil is a country which has had its fair share of political and economic problems in the past, but it does seem to be on more of a sound footing these days.  The growth in the economy and employment markets is impressive and seems set to continue for some time although, as with most South American countries, Brazil is aligned with the US economy with which it has strong trade links.  The country is emerging as an interesting location for business / investment and the tourist industry is still very strong.  Perhaps more importantly, the political situation seems a lot calmer these days and while there are risks with any overseas market, an investment in Brazil may just favour the brave - before the herds arrive!

Brought in Berlin took six weeks

On the surface this thread covers an investment in Berlin which has been completed very quickly, but it has quickly developed into a two tier approach about investing in Germany and how to decide upon your areas of investment.  The comments about major multi-nationals leaving Berlin to move further up North appear valid, hence the large amount of property on the market, but prices do seem to be rock bottom.  As “eddie 55” commented, sometimes you can talk yourself out of an investment, when maybe your gut feeling says go for it.  Surely the investment into Northern Germany will filter downwards at some point?

The subject of investing in Germany seems to be mentioned on a regular basis, and while the country was unified some time ago there is still some way to go before the process is completely finished.  The unemployment market has been difficult, the economy tricky to read and this has all had an impact upon the property market.  The country itself has positioned itself at the head of the EU table with growing influence, something which is sure to filter through to the country in due course.  The hot spots in the North of the country are in favour at the moment, although areas such as Berlin are looking interesting.  While it may be too early to buy for those after a quick return, a long term investment should be fruitful.

I want to buy in Turkey.

This thread was started a few months ago by “nelson” has come back to life of late, with some forum members enquiring about mortgages in Turkey.  Initially the post turned to the economic difficulties of Turkey, where inflation was high in the past, and the mortgage market was not very well developed.  It seems that the mortgage market is a little better now, even if not along the same lines as the UK.  A useful flow of information and contacts has proved helpful to some members of the Forum, and offers some interesting reading for those curious about the area.

In many ways this thread shows how the European mortgage culture and market is moving to other areas of the world.  While Turkey could not be described as an undeveloped country, there seems to be some catching up to do in the financial markets.  The tourist industry is still very large in Turkey, and this is attracting more and more property investors.  As demand for mortgages grows, it seems inevitable that the market will become larger and easier to access, assisting all investors in the area.  Perhaps the old days of hyper inflation and low economic growth are still impacting now, but Turkey is a very different entity today.

Buyers it seems don't trust overseas developers

This is an interesting and thought provoking thread from “nickmar” which has led to some fairly heated exchanges on the forum.  The discussion revolves around the trust in overseas developers and the potential to streamline the process and improve the trust factor.  Nick has introduced the subject of International Developers Information Packs (IDIP), at a time when property information packs are on the agenda, e.g. HIPs, with the hope of bringing all overseas developers in to line.  There appears to be support for the idea, but concerns about duplicating work, the fact IDIPs are administered by a profit making organisation  and some doubts about their overall value.  We have not heard the last of this thread!

When you strip out the fact that IDIPs would be administered by a profit making organisation, there may well be a place for such a worldwide standard.  However, getting all overseas developers to sign up to the process and also pay the minimum £600 per property may well be a little more difficult.  The thread has certainly allowed both sides of the argument to put their points across forcefully.  Even if the IDIP idea does not take off, it has shown that there is a potential market for a worldwide standard amongst developers, but bringing such a fragmented market together may be easier said than done.