Words: Ashley Rigg
Published: 3rd October 2011
A Place in the Sun Live defies the media doomsayers
The newspapers have never been so full of negative stories about the state of the world economy and the prospects for property investment.
The doom and gloom in the media has been threatening to engulf all those that will listen with a dose of the black dog.
Well the doomsayers were dealt a blow this weekend by two freak events – the highest temperatures since records began for October and an overseas property exhibition that universally exceeded expectations.
Now our regular readers will be know that I’m not one to talk up the market. I receive regular emails telling me to “cheer up you miserable *******”. Now I’ve been on the phone all morning but I can’t a single person with a bad word to say about A Place in the Sun Live which took place at Birmingham’s NEC arena this weekend.
Marc Herbert, director of Avante who sell in Cape Verde is sanguine in his assessment:
“It was absolutely brilliant. The best show we have ever done. The stand was never empty and the quality of the leads was excellent. The hot weather put everyone in a good mood and kept the timewasters away”.
Adrian Tanner, director of Avanti Worldwide who sellfractional property in Akbuk in Turkey agrees:
“It was a very good show. Friday was trade but Saturday was exceptional and Sunday was well above expectations. In contrast to other shows people showed a greater understanding and willingness to listen to the fractional proposition”
Going back 20 years
Marc Pritchard, Market Development Manager believes the marketis returning to what it was like 15 or 20 years ago.
“The buyers at the show were almost exclusively lifestyle and mainly retirement. Of the eight appointments we booked, not one person asked us about return on investment oryields. The customer profile was people in their early fifties through to mid sixties looking to enjoy the money they’ve made knowing they are not getting any kind of return in the bank”.
Screw it, life is tooshort
So how do you explain the apparent contradiction of the worst economy and media environment in a generation with a willingness of consumersto spend money on overseas property?
Before we get over excited it’s important to consider thatthe market is still much smaller than in 2007. A Place in the Sun Live visitor numbers are expected to be the same or slightly less than last autumn and this event is now the only real lifestyle overseas property event in the UK market.
However, there seems to have been an attitude at the event that as Marc Pritchard put it “screw it, life is too short”. There is still a significant minority of people with both money and the desire to spend on a better lifestyle. There is a limit to amount of bad news anyone person can take and as Pritchard says there aren’t too many safe places youcan put you hard earned cash these days. Why not enjoy it now?
It will be interesting to see how the investment market for overseas property is holding up when the Property Investor Show and OPP Live takes place on 13th to 15th October.
Source: Global edge
User Comments
We’re happy, clients very positive-felt this was a great time to invest. 70/30% mix of holiday homes clients and investors (particularly for the USA). I definitely agree the great weather whittled out people who aren’t genuinely contemplating a purchase.
Steve Hamilton,
Compass Amazing Resorts Limited
We had 4,076 visitors versus 4,094 at the NEC in 2010 but there was a more positive feeling in the hall and exhibitors have reported genuine interest from buyers.
Thanks for your comment Mark.
Andy Bridge,
A Place in the Sun
It was a great show,3 solid days of genuine buyers.Good mix of Investors and second home purchasers.
Mark Alexander,
Florida Bargain Resales