Buying decisions: emerging vs established areas
Is it better to buy in an up and coming area, or an established sought after area? There is a very interesting article in The Observer that discusses just this issue. Here is an excerpt:
The smart money, according to Ed Mead of Douglas and Gordon estate agency and everyone else we spoke to on the matter, is to buy the shabbiest property in the nicest area you can afford. 'For one very good reason,' adds Mead. 'Your investment will be better hedged. It's frankly better to buy a tiny one-bed flat in Chelsea than a four-bed house in Streatham. The moment the market deteriorates, if you try to sell in Streatham you've got no chance, because it's a 100 per cent domestic market. In Chelsea, the market is 25 per cent domestic and 75 per cent international, so you won't have a problem selling.'
Comments
The situation is the same in Bulgaria too.
Posted by: Drago @ Dream Bulgarian Property | August 20, 2006 11:57 PM
One afternoon, I was in the backyard hanging the laundry when an old, tired-looking dog wandered into the yard. I could tell from his collar and well-fed belly that he had a home. But when I walked into the house, he followed me, sauntered down the hall and fell asleep in a corner. An hour later, he went to the door, and I let him out. The next day he was back. He resumed his position in the hallway and slept for an hour.
This continued for several weeks. Curious, I pinned a note to his collar: "Every afternoon your dog comes to my house for a nap. "
The next day he arrived with a different note pinned to his collar: "He lives in a home with ten children - he's trying to catch up on his sleep."
I cried from laughter
Sorry, if not left a message on Rules.
Posted by: Melissik | May 2, 2008 10:07 AM