Be careful you don't get overexcited

no I said we had lost due to the recession we are still in money but not as much as we were before. Bought for 50k went up to 120k, down to about 90k now

*pant* *pant* *pant*

ah, fair enough. well done... assuming the market is liquid.

I guess at this point I have to confess to being a defaulter on a piece of shit on Reem Island....

Whoa!

No shit?

meaning you bought or didn't? property is worthless unless someone wants to buy it at the end of the day. Will sell at some point.

yup, I got excited.

Defaulted very early as I realized my mistake way before the majority. Thankfully, after having a chat with my in house counsel I got a clearance letter saying I have no further obligations to the developer so I am all good.

How much?

hence my comment about liquidity. I'm currently thinking of buying a villa in the med. Literally nothing is moving (been watching for a while) and prices are still falling as people try and find the clearing price.

I knew you were going to say that... more that I would have liked, but less than I could afford...

I am still planning on buying something in London, probably a 2-bed flat somewhere.

Would I be better off renting instead and buying holiday lets on the cheap somewhere in Spain?

Well, I am looking at Portugal. About 280Euro (250GBP) will get you something that generates about 17k in rental income (including voids - based on about 10-12 weeks a year) Costs are not that high in Portugal so you could probably get a good 6% yield (without leverage).

For real estate that isn't awful although I'd want a bit more given that I'm not convinced it's easy to sell stuff in foreign markets, or will be, for a while.

Certainly better than the Reem deal.

Thought this was in Baku..they seem to have equally as 'good' ideas.

A different itteration of it

certainly France is completely stagnant. It took a year for my parents to sell their place (ex farm, large house, 2 holiday homes generating about £8k/ year and out-buildings), but the townhouse they bought had been on the market for 2+ years.

http://www.skyscrapercity.com/showthread.php?t=739172

Classic multi multi $bn development thrown around before the fall...

The whole skyscraper forum can be good for a laugh generally.