Where's the new "Bulgaria"?

Wudyaquit

Just wondering where in the world people reckon is the new great white hope for property price increases?
Bulgaria and Dubai did well for those who got out in time a couple of years ago and Shanghai & Hong Kong seem to have been the places to be more recently according to the Indo

http://www.independent.ie/business/irish/dublin-at-number-three-in-world-for-largest-luxury-home-prices-fall-2108812.html

Where do people reckon's the new destination that'll see massive rises or where there's an unjustified frenzy like we've seen in Bulgaria.

helimachoptor

Leitrim!

the_syco

Wudyaquit wrote: »

Where do people reckon's the new destination that'll see massive rises or where there's an unjustified frenzy like we've seen in Bulgaria.

LoL. Seems some people have more money than sense: you'll only know about the "new" place when people start to loose money on it.

wobblyknees

North County Dublin.

AARRRGH

Maybe, just maybe, there are other ways to make money apart from property...

But to answer your question: long term countries which will be joining the EU (e.g. Croatia) are probably a good bet.

wyndham

Iceland

wobblyknees

Ok, in all seriousness, I've done a bit of research and I hear Greece has many possibilities at the minute.

jmayo

helimachoptor wrote: »

Leitrim!

Ahh FFS stop always picking on lovely Leitrim. :mad::mad:

There are more ghost estates in the Leinster you know.

BTW anyone interested in the new Venice of the north, Carrick on Shannon.
There are some lovely apartments with river views and somtimes you could moor a condola right at the back door.

AARRRGH wrote: »

Maybe, just maybe, there are other ways to make money apart from property...

But to answer your question: long term countries which will be joining the EU (e.g. Croatia) are probably a good bet.

What, there are other ways to make money ??

The Croats have been fleecing the Paddies for years, trust me on that.

wobblyknees wrote: »

Ok, in all seriousness, I've done a bit of research and I hear Greece has many possibilities at the minute.

Greece has a few possibilities alright, one including having the Germans going back to their 1940s plan of rescuing the country.

BTW I reckon you can't beat Iraq for potential long term, well very long term.

syklops

Check out the Czech republic. Prices are going up!

kennyb3

have you actually learnt nothing from all these crashes?

maybe you should of invested in some bank shares on friday

Wudyaquit

the_syco wrote: »

LoL. Seems some people have more money than sense

Eh no. Looking for opinions, not a target fad for me to tear out the cheque book for.

the_syco wrote: »

you'll only know about the "new" place when people start to loose money on it.

Wouldn't agree with this either. Shanghai's been touted for years. Bulgaria was touted for years before it went tits up.
It is possible to make money on property once it's well valued and the purchase is well timed. The last couple of years aside, it's one of the steadiest investments you can go for...

Carawaystick

Surely the aim would be to make a return on an investment- so property isn't the way to do it.

Senna

You dont need property tips, you need the 3.15 at Leopardstown.

stepbar

jmayo wrote: »

Ahh FFS stop always picking on lovely Leitrim. :mad::mad:

There are more ghost estates in the Leinster you know.

BTW anyone interested in the new Venice of the north, Carrick on Shannon.
There are some lovely apartments with river views and somtimes you could moor a condola right at the back door.

In fairness, Leitrim was the first place I thought of and I'm from there

Mind you most people who coin joke answers like "Leitrim this" "Leitrim that" probably have never set foot in the county, so the opinion they have means nothing. We'll get on fine with out ya

Victor

jmayo wrote: »

Ahh FFS stop always picking on lovely Leitrim. :mad::mad:

There are more ghost estates in the Leinster you know.

There are also more people in Leinster, about 80 time more.

jmayo

stepbar wrote: »

In fairness, Leitrim was the first place I thought of and I'm from there

Mind you most people who coin joke answers like "Leitrim this" "Leitrim that" probably have never set foot in the county, so the opinion they have means nothing. We'll get on fine with out ya

I thought you were from Cavan for some reason ?

A lot of villages in Leitrim saw a lot of estates go up purely based on section 23 and luring in the Dubs to buy their get aways in the sticks.

But my point is that people poke fun at the likes of Leitrim when their own village, town or indeed city is full of empty properties.
Gorey has them, Carlow has them and that is just town within the so called commutting belt of Dublin.

Victor wrote: »

There are also more people in Leinster, about 80 time more.

True but that still doesn't mean that there aren't loads of empty estates.
Even though the East of the country historically would be better placed economically, I can't see some of the unused properties having a much better chance of being sold in the short term than those in Leitrim.
The plain truth is that we have chronic oversupply everywhere and not just in Leitrim.

Victor

The vacancy rate is lower in Dublin.

griffdaddy

I'd say Serbia is a pretty good bet, or even down around Montenegro. Apparently Albania has some of the best unspoiled coasts in the world, and pretty amazing weather as well. Obviously though it might take a while for political stabilisation, but i could well see that happening in the next 'rich period' of the world economy.

OverseasCafe

griffdaddy wrote: »

Apparently Albania has some of the best unspoiled coasts in the world, and pretty amazing weather as well. Obviously though it might take a while for political stabilisation, but i could well see that happening in the next 'rich period' of the world economy.

Albania is reasonably stable politically, although terribly corrupt, and it is very, very poor (the poorest country in Europe I think). If you travel to the south the beaches are fabulous and unspoilt, but you might have to live without electricity or decent roads (even the main roads in the country are constantly being dug up, it's like being on a back road in West Cork.)

The big problem with Albania is that foreigners get ripped off by the Albanian mafia, even if you buy a property you can't be sure you actually own it or will continue to own it if the local heavy decides he doesn't want you there or you decide not to pay the money he's trying to extort from you.

The country has the most Mercedes per head of population of any country in the world, it is unbelievable to pass all these gleaming new Mercs as they weave in and out between the donkeys and carts. I asked a local real estate agent why the huge amount of Mercs in such a poor country - he said that emigrant Albanians sent most of their money home so that their families could afford better. I've seen some of the houses there so I didn't believe him. A rather more candid guy I spoke to some days later said that his brother had a job in Durres port taking all the Bayern Munich flags and stickers off the cars before they were offloaded. Most of them have been nicked from around Europe and are sold for pennies on the Euro.

I stood in a beachfront apartment in Durres a couple of years ago. The studio apartment was actually built on the beach, you could spit out the window on to the sand. The finish was awful and the apartment was tiny but the cost was just €19k. Around the back was the equivalent of a shanty town. I certainly wouldn't want to go there on holiday - even if you could get there easily, which you can't. You'll have to fly to the UK then get a - normally fairly scarce - flight into Mother Teresa Airport in Tirana (Mother Teresa wasn't even Albanian, she was born in Macedonia to Albanian parents).

Albania has a lot of problems to sort out before it becomes a stalwart of the investment community.

OC