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its an idea hatched by economists and would be too controversial for the usa right now.
see: http://en.wikipedia.org/wiki/AmeroI have recently bought 3 properties in Deception bay. 1 is a bare block of land on Esplanade Nth, the other is newish 3bdm house further up on the esplanade nth and the other has direct water views thru a park in sampson st. i am buying these as a long term hold and plan to build on the block in november 08. the yields are crap overall compared to what i paid but the equivalent waterfront in redcliffe, sandgate etc is double the price.
any thoughts?? does anyone else believe the waterfront growth in this suburb will outperform in 08/09??
i like the area and plan to move into one of the properties within the next 12 months and i believe that like wynnum, redcliffe and some other bayside suburbs, Deception Bay will shake off its negative image especially with continued development in the area and overall scarcity of waterfront 35 mins from the city.
have i made a sound decision??I am getting DA for 2 properties in loganholme. both are 2000sqm zoned res600. I would love to hear from someone who has done this.
I moved to port vila in 2006 and bought my unit in jan 2007. the location is important and i bought at nambatri which is within municipality . its very central to shops, main roads etc. its only a 2 bedder very basic but lovely view and is actually strata commercial so i can run a business from my premises which is handy. i know that furnished i can let it out with a 9-10% return.
I am also about to buy a house with a fantastic view 5 mins from port vila and zoned rural res. again, i can let it out anytime for 9-10% return.
i guess what i am trying to say is that unless you know you will get +ve geared return from your offshore investment in a potentially volatile market (which sums up ALL pacific island countries) then you should walk away. most real estate buyers in these markets make emotional investment decisions ( i am no different btw) and that is fine as you will not get better views or waterfront anywhere else for the $$ but remember you must get a decent return – which is still possible here. Beware of a lot of the real estate agents here as many are unscrupulous and will fudge numbers etc to present "once in a lifetime" deals on comm and res props. also be careful of the advice the accountants will offer you. they will always try and steer you towards their own developments etc. the best thing is to come over and look, look, look and talk to people who have been here a while and who don't have vested interests. its a lovely place with some crime issues (nothing a tomahawk and a big dog won't fix) and you can have your own security guard, house girl and chef for $AUD200 per week total cost!!! its like cairns in the 70s/80s i reckon
