In my last post, I talked about how Calabria is a region of Italy to look out for. I'd just like to add that you shouldn't be put off by this. I personally know dozens of Calabrians, and I will attest that none of them are Mafia leaders!
Actually, on a slightly less hilarious (*cough*) note, despite its proximity to Sicily, the Mafia never really made any inroads on the Calabrian mainland. The fiercely familial and parochial nature of the mob - allied to the relatively diverse ethnic nature of Calabria (wrought through centuries of war and immigration) meant that the Mafia never looked further afield in Italy than the big cities. And if you know your Scorsese, actually exported their code and methods most successfully to the USA.
As another point of fact, the relative poverty and rural nature of the region also made it an unattractive place for the gangs who are - lets face it - interested primarily in money and power.
So if you are visiting the region, please don't feel threatened if you see a big fat guy with a cigar and an untucked shirt. Chances are he's just stepped out for some air and has no designs on leaving a horse's head in your bed!
This was a public service announcement.
Wednesday, 27 February 2008
Monday, 25 February 2008
As-yet Untapped Hotspots...
The Holy Grail as far as investors in overseas property are concerned is to be the first to discover some hidden corner of some as-yet unpopular country that has the potential to hit the big time.
Of course, in today's saturated world, such places are becoming rarer and rarer. But only 10 years ago only the farsighted would have suspected that Eastern Europe would be such an up and coming place in which to invest. That alone should serve warning to anyone who tries to tell you that investment opportunities are drying up - even in a heavily investigated market such as mainland Europe.
My personal tip for the next 5-10 years is the Calabria region of Italy. The North with its renowned cities, close physical ties to the rest of Europe and its relative affluence is well known enough. As with anything though, regions such as Tuscany have become little more than a cliche. In a highly aspirational market such as property investment, people are looking out for the opportunities that set them apart from the crowd.
Calabria has all of the attributes you'd be looking for in terms of investment. The country itself (i.e. Italy) is a byword for sophistication and 'lifestyle living' but Calabria itself offers the other side of the story: "authenticity." Relatively untouched by the commercialism that has seen Rome, Naples, Milan etc choked by tourist footfall, the region still offers the romantic appeal of Italy. Little villages nestling amidst the cypress-decked hills and valleys... a stunning coastline... and a wealth of local traditions that have yet to succumb to the temptations of modern living.
Development is still relatively small scale and in character with the area - an all too rare commodity in European markets and if you're looking for something a little different you can do a lot, lot worse. Investment property in Italy doesn't come much more affordable than this, and looks to pay good yields in the medium term.
Of course, in today's saturated world, such places are becoming rarer and rarer. But only 10 years ago only the farsighted would have suspected that Eastern Europe would be such an up and coming place in which to invest. That alone should serve warning to anyone who tries to tell you that investment opportunities are drying up - even in a heavily investigated market such as mainland Europe.
My personal tip for the next 5-10 years is the Calabria region of Italy. The North with its renowned cities, close physical ties to the rest of Europe and its relative affluence is well known enough. As with anything though, regions such as Tuscany have become little more than a cliche. In a highly aspirational market such as property investment, people are looking out for the opportunities that set them apart from the crowd.
Calabria has all of the attributes you'd be looking for in terms of investment. The country itself (i.e. Italy) is a byword for sophistication and 'lifestyle living' but Calabria itself offers the other side of the story: "authenticity." Relatively untouched by the commercialism that has seen Rome, Naples, Milan etc choked by tourist footfall, the region still offers the romantic appeal of Italy. Little villages nestling amidst the cypress-decked hills and valleys... a stunning coastline... and a wealth of local traditions that have yet to succumb to the temptations of modern living.
Development is still relatively small scale and in character with the area - an all too rare commodity in European markets and if you're looking for something a little different you can do a lot, lot worse. Investment property in Italy doesn't come much more affordable than this, and looks to pay good yields in the medium term.
Tuesday, 19 February 2008
5 Hints and Tips...
If you're going to get involved in overseas property (or even if you're just travelling abroad) here's some cool tricks I always use to save myself money or protect myself from the hassle of international travel.
- Buy a guide to the country you're visiting. Bumbling around offending the residents of wherever you are is never really advisable, and if you're in some of the less developed areas of the world it can be downright dangerous. Forewarned is forarmed, and there are many reputable travel books that give you great inside information.
- Buy an international SIM card - a godsend if you're looking to save money calling the folks back home
- Pack a spare set of underwear and your toothbrush in your hand luggage. Far be it from me to disparage the good-natured baggage handlers of the world, but if your case goes missing you don't want to be stinking up the hotel when you arrive and you're waiting for your case to catch up!
- Tell people where and when you are going - it might sound trite, but if you do find yourself in trouble, it pays to have hotel staff or relatives back home having some idea of where you're supposed to be staying and what you're supposed to be doing.
- Find out where your embassy is before you travel. If you do hit troubles or if your passport is stolen, your embassy is the critical point of contact to getting you home safely. The UK Government has a complete list of overseas embassies on its website.
Monday, 18 February 2008
Couldn't Agree More...
I happened across the "unofficial Polaris World Blog" (whatever the hell that might be!) and found quite an interesting post about polaris world's advertising. It also touches on a problem faced by the whole overseas property market in general - the one of 'perception.'
See if this picture rings any bells:
See if this picture rings any bells:
- 40 something man
- Big sunburnt face
- Casual clothing almost like tennis whites
- A veranda
- Big drink of something
- "Oi Manuel!"
- Owns villa in Spain
Buying Abroad
Property - the dull cornerstone of all our worlds. Whether we're sitting around within some concrete blocks, sat outside looking at bricks or worrying how to pay for all that concrete and bricks, you can't really escape it.
In this blog I'll be looking at the overseas property market. It's not really much more exciting than the domestic property market, but at least the sun shines in the main.
In this blog I'll be looking at the overseas property market. It's not really much more exciting than the domestic property market, but at least the sun shines in the main.
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