mikee

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    mikee
    Member

    So are you saying we can ONLY post nice things about CV then Daniel … tourists need to be aware of the dangers also 😐

    mikee
    Member

    Chrissie … bit of an old article but this is what McAnthony thinks of people that critiscise his ‘mis-selling’ tactics!!

    http://blogs.mirror.co.uk/investigations/2011/06/darragh-macanthony-tells-criti.html

    Might be worth contacting Ulster Unionist MP Sammy Wilson who tabled a motion of fraud against McAnthony .. also try this site …..

    http://www.mri-sg.org

    mikee
    Member

    @peter c wrote:

    Unfortunatly to fly from UK to Lisbon and then onto Sal is also very expensive at the moment. At least £500 if you are planning ahead.
    i love Sal and would go over much more often if I could get flights for less than £300.

    Deja Vu here Peter … haven’t we all (ESP ME) been saying that for the last 8 years or so … I think those that kept on about flights DEFF dropping in price now have to eat their words !!

    It was the ONE big thing that made my mind up not to buy, well that and the corruption of certain developers.

    mikee
    Member

    quote:


    Originally posted by ontoyou

    i see some of the regulars are still around the table!

    I have to admit my investment in cv to date has been rubbish.

    it’s possibly worth half what i paid, i haven’t furnished it yet, flights are too expensive, property tax has risen, i have arrears on the service charge and i haven’t even been to see it yet!

    on the bright side, interest rates were cut this week, my mortgage is pretty low and there finally seems to be a bit happening on vila verde re tourists, shops etc…


    Yes OTU .. I’m still here, sorry to hear your property value has fallen SO much. You were so hyped up at the beginning, do you wish you hadn’t invested in CV then … I guess so?

    JB

    Very much agree with nearly all you have said but what airlines in this current climate are going to risk new flights to CV .. we have been having this conversation on and off for nearly 7 years now with rumours of this and that airline .. but nothing concrete as yet I’m sad to say. NO cheap(er) flights .. no chance of rentals etc.

    mikee
    Member

    Still keeping a keen eye on market prices and they appear to be tumbling rapidly of late – private sales are being valued way under what they were purchased for many years ago. The likes of Djadsal going cheap and even the fairly established Porto Antigo resales look like they have dropped dramatically … are these just what the agents like to call ‘distress’ sales … or has the bottom truely fallen out of the CV market at the moment?

    Discuss?

    mikee
    Member

    I know what you are saying JB and I forsee no change in the situation in the near future, for what you would pay for 2 flights alone you can get an A/I holiday in Egypt or the Caribbean.

    It doesn’t bode well for private rentals and is the main reason I decided not to buy in CV .. hopefully competition will come along soon.

    mikee
    Member

    Hi JB … well a few names have been mooted, Monarch being the most likely I would think .. those hoping for private rental income will welcome any interest

    mikee
    Member

    This has been the same situation re flights ever since I went on one of the first Astraeus Airlines flights several years ago.

    In fact despite lots of people saying prices would eventually come down .. it is quite the opposite they have escalated somewhat

    Whilst Tui have the monopoly with direct flights from the UK it is unlikely to change until we have some real competitors going there also

    mikee
    Member

    Thanks guys, I thought it was a bit far out on Ponta Preta, so am now looking for somewhere more central, maybe Odjo D’Agua, which I have always liked .. plus it’s not far to walk into town from there [:)]

    mikee
    Member

    Anyone stayed at this hotel before OR know what the location/quality is like before I make a decision to book it?

    Thanks

    mikee
    Member

    quote:


    Originally posted by WorWilly

    Hacker M8 most flies are around August to October, but there have been occasions when they were there March, June, so it’s pot luck. so far as there is no certain times. Can’t beat the RIU for price, don’t care what anyone says, you can sup a £100 a day LOL then hit the town LOL


    WW .. flies are there in NOV/DEC as well, was absolutely pestered by them. I agree with those that say CV will be a predominantly winter destination, but will people be prepared to pay those prices on s/c accommodation – I doubt it?

    mikee
    Member

    quote:


    Originally posted by WorWilly

    Thought I’d start this showing the latest deals around town.

    Djadsal Moradias
    2 Bed complete with furniture, ready to rent, or move into.

    €60 K

    Grab a bargain


    Saw that WW .. that is a massive hit for someone, around a 30%+ drop in the original price, something not right there. Is it in the block that was hit by the damp issue maybe?

    mikee
    Member

    quote:


    Originally posted by CarlG

    Mikee

    I understand where you are coming from but here is an idea of what the investors should be looking at not listening to ill informed people.
    The developer wants half of the room rate. Lets say on a two bed the net room rate is as low as 100 euros per night in a 5* european standard resort. This is less than a 1 bed in RIU. The current average occupancy for Sol Melia in 68%. It is actually greater in their Melia resorts but assume 68% (everyone knows that the average is also higher in RIU)
    68% of 365 days is 248 days. Assuming that the investor gets 50% of the rate then they receive a net 50 euros per night (I beleive that it will be higher than this). 50 x 248 = 12400 euros. that is as pessamistic as I can beleive that it would get. Lets say that the average price of the 2 bed unit is 160k then that is just short of an 8% return.

    This as also managed by a multi billion euro Spanish listed company that is unlikely to keep the money the investor is due as i have read other rental companies have done and needs no management time from the investor.

    That is a no brainer. you then get 5 weeks per annum free and any other weeks at 25% of the normal room rate.

    Tell me where the wholes are in that!


    The Rui’s are a different scenario – people will have to book their own flights for Tortuga and other developments which will cost an arm and a leg. Karl there are plenty of ‘holes’ but no point in mentioning them as you have yourself convinced of everything so best of luck on it anyway.

    mikee
    Member

    Karl I’m not saying your development isn’t right, I am saying don’t believe all the hype about rental yields coming to fruition – you only have to check the forum for peoples views on this that already own property (this is all linked to the flight situation I know) !

    You mention potential for ‘movement in the market’ – this can work against you also, 3 or 4 years ago when we all flocked to CV the pound was riding some 40% higher than it is today and since then a lot of completed properties are cheaper today than 3 years ago, so it has worked against many people also

    I am not being patronising in any form .. just be aware thats all

    mikee
    Member

    quote:


    Originally posted by CarlG

    That is simply not the case. Lot’s of people are drawn to the fact that you can buy now and have a period of time before you consolidate the transaction and pay the balance whilst there is potential for positive movement in the market. You need to do your homework but the developer in this instance is credable and built the properties so far to an exceptional standard, better in fact than many UK house builders and all of the competition in CV. If the location is right, there is a rental yield and the quality is right then those are the ingrdients anywhere in the world for sound investment returns.

    I agree with the other posters that there are bad companies out there and that this can mean that some people have lost money but I am pleased with my investment and I am convinced that my capital values will increase or at least be underpinned by the yield.

    This is all about knowing what you are buying and who you are dealing with, a route to market for consistent occupancy to create a yield, the quality of build and the location. This particular development has ticked all of those boxes although I accept that there are some bad apples in the developer cart!


    You really think so Karl, many people have been spun this yarn and are suffering the consequences. Can I ask you – have you been out to CV to see the plot/country?

    I managed to get my 3000Euro deposit back on an ‘off-plan’ some 3 years ago (paid on credit card) fortunately, having gone there SEEN what the builder had built before, done all the homework I could do but I still had a bad feeling about it so pulled out. To date the apartments are STILL NOT built.

    Don’t believe all the hype Karl

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