By Ronan McMahon
ARA
As a member of our little group, you will know that I have been closely following the opportunities created by the collapse of Ireland’s property bubble. In particular I have followed fire sale auctions where we have been able to buy for as little as one-tenth of peak prices.
Imagine perfect, white-washed homes…and churches with rounded roofs…that cling to the sheer edge of an ancient volcanic crater. The sun sets like a fiery cannon ball at Oia. Yes, the black beaches are interesting, but here it’s all about the dramatic views from the crater edge. This is the Greek island of Santorini. My favorite. And like the rest of the Greek islands, real estate here is about to get dirt cheap—because of the great crisis the country faces today.
Along Costa Rica’s Southern Zone, the bright, thick, green jungle canopy rolls down to a coast of sandy beaches and rocky points. It’s truly stunning. One project along this coast stands out as the gold standard. It’s here that members of our group can buy with a down payment of $20,000 and interest-free monthly payments of $556. And where a small group (strictly limited to 13) of Real Estate Trend Alert members will gather this July 19-22.
In January I told you about my visit to the Gran Bahia Principe resort in La Romana, Dominican Republic. Plans call for a major new Caribbean beach resort town spread out over 1,500 acres…with close to one-and-a-half miles of beach. Since then I have been running the rule over this opportunity and negotiating an “off market” deal for RETA members.
As a member of this group, you will know about the strong opportunities we have in northeast Brazil. You also know about the miles of sandy beaches east and west of Fortaleza, and the charming beach towns. Of these, Cumbuco is my favorite. And because of a situation thousands of miles from Brazil, you could buy a lot in Cumbuco, in a gated community just back from the beach, for 62,000 reais ($30,500).
Brazil is on the up. Fortaleza is doing particularly well. Government policy calls for the creation of a mega manufacturing and export hub just outside Fortaleza. We can profit.
On Friday I told you about the opportunity to buy a lot perched above the shores of Lake Arenal…with a down payment of $2,500 and monthly payments of $187.50. This lot is in a project called The Preserve. Just below The Preserve and on the shores of the lake you’ll find one of Arenal’s most established projects: Turtle Cove.
In January I told you about the opportunity we have in Costa Rica’s (formerly) undiscovered lake country of Arenal. It’s in a project called The Preserve. Guess what? The market in Arenal there has taken off. The early-in window of opportunity is closing. The best lots are being snapped up and prices are rising. For now we can buy a lake view lot “off market,” perched above the boat dock, with a down payment of $2,500 and monthly payment of $187.50.
Last Friday I told you about the results of Ireland’s most recent fire sale auction. The catalog for the next auction (May 3) has been released. This time there are fewer apartments in the bigger urban centers. The focus is on commercial units. Some have tenants with leases of varying terms. Others are vacant. Homes and building plots scattered around the country also go under the hammer. Some are far from the big urban centers and will likely sell for a song.
In this dispatch, I’ll report on the results of Ireland’s latest fire sale. I’ll also look at some non-auction listings located along the scenic Ring of Kerry for less than $100,000.
