WeÂ’ve heard all about Turkey, Croatia, Bulgaria and Rumania. But if it was really all that good, how come they all seem to want to come over here?
There is not one day that goes by without the papers reporting on some incident about Rumanians in England, in Spain and other places. Seriously, while in Britain people are contemplating investing in Rumania and Bulgaria to make fortunes over there, many have actually made that move. Some have even left our Costa to venture their future on those new shores.
There seems to be some kind of Â“gold feverÂ” epidemic attacking people who believe they can create massive fortunes through property investment, little realising that the feverish excitement must come to an end once the Â“upside pyramidÂ” loses its balance.
Of course at the beginning of the build up some are bound to make some good returns but, as the fever reaches a crescendo, it becomes obvious that the only people making money are the intermediaries between buyers and sellers until the market finally collapses.
The only good investment in property is a long term investment and I cannot think of a better place for it than the Costa del Sol. Yes, of course there have been many scandals; properties illegally built, sale of non existent properties, falsely convincing speculators that they could sell at a profit before completion, briberies, and so on, however we only know these facts because of the cleaning up process that is taking place.
You cannot sweep a dirty floor without raising some dust. That dust is good news letÂ’s not be put off by it. With all the corruption that has been unveiled in Spain, the news may be discouraging, but the fact is that the unveiling has taken place.
While corruption and inexperience is expected of these new members to the E.U., Spain is a long way ahead getting over that phase, so why run from it now?
There is nothing wrong with Spain becoming more expensive than it used to be, it is still cheaper by comparison and now that demand has dropped profiteering will also diminish.
Greed is the seed of evil; it is us, the visitors, who have spoilt the market. We have shown that we are willing to pay more than was asked for in order to prevent someone else having it. LetÂ’s be more sensible and only pay the fair price; if you know someone is taking advantage do not buy, demand good service for your money and help make this a better place for us all.
If, like me, you seek other shores, because of discontent of your own country, the Costa del Sol is hard to beat. Mild winters, hot summers, plenty of beach and sun, good food and drink, healthy air andÂ… you do not even have to learn Spanish. Because of greed, there is now an oversupply of properties, there are some good opportunities to be had in finding a good long term investment property but do not let greed take you over Â…or the seller.
Obviously you haven't really looked into the investment market in these countries. Any person that has read a little about the opportunities that this market presents can almost immediately see the benefits of investing in these emerging markets. Romania and Poland have been ranked at the top of the investment market in 2006 and 2007 bringing opportunities for the small investor only available in these countries due to the still very low cost of property. These countries deserve a more careful review and not some uninformed point of view.
Rated: 2/5 (24th May 2007)
Editor's comments: You seem to have missed the point of the article. You have not disclosed who you are, however I am assuming you may be an estate agent with a vested interest in promoting property sales there? I still believe that the investment is of a long term nature and not as good or as quick as some make it seem for their own personal interest, which is exactly what happened on the Costa. It was not long ago that the Costa was also promoted as a good investment, unfortunately burnt out by greed fuelled by intermediaries, just as it is being done now for Rumania and the others. As the article says, if it is so good over there why is it that they keep coming here and,more to the point..., why is it that the intermdiaries don´t move and take their business there instead of using the Costa's resources?