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eZine January 07
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A Brand New Year - Welcome to Issue 3
Now the dust has settled on another frantic Christmas, and New Year celebrations have faded into distant memory, it's time to briefly review 2006 and incorporate its lessons into our plans for 2007. Whilst it is unwise to drive a car by looking into the rear-view mirror only, there are nevertheless some benefits to be gained by bearing in mind what went right (and wrong) last year. At Viceroy Invest, 2006 has been a very successful year. That is no reason for complacency, and self-congratulation is not our style, but we are encouraged to see that our judgement has been endorsed by the markets as well as by our investors. Our most successful country for investment has been Cyprus, without doubt, with no fewer than eight separate developments under way and further ones planned. The Cyprus market has grown significantly in 2006 and our specific schemes, particularly those around the planned Tersefanou golf course, have heavily outperformed the market average. Morocco has also been a great success, though we believe "we ain't seen nothing yet" as far as that country is concerned. The medium to long term investment outlook is excellent and is supported by sound fundamentals. Although a clear winner to tuck away for the future, there is quite probably an amount of money to be made there in the next year or two, before the properties have been built, by selling on the back of price and market increases. Closer to home, we have had successes with a number of UK developments, though we have rejected far more opportunities than we have accepted, in a ratio of more than 10 to 1. The UK market in general has performed better than the experts expected, showing as much as 9% increase overall (RICS) with predictions for 2007 ranging as high as 15%. Whilst that is the market average for the UK, there will always be special situations - pockets where growth is significantly higher (or lower) than the UK average. We shall be watching with interest! Other Stories...
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