Freggyragh Posted February 22, 2010 Share Posted February 22, 2010 Shame you didn't bother reading my reply. I said 'UK style' but I could have, I admit, more accurately, used 'Irish style' - the point is the same - rapid, unsympathetic, unneeded, unwanted and unloved development that is in no one's interest except developers and speculators. I did read your reply. Even you admit that Irish style would have been more accurate - my point was that you chose to say 'UK style' by default, Fraggle old chap. No, UK is shorter than 'United Kingdom of Great Britain and Northern Ireland' - a country of 61 million people with areas of high-density urban conurbation for which the said estates may well be perfectly suited. I now have an image of you in a Tim Brooke-Taylor style Union Jack waistcoat furiously scribbling a letter to the Queen complaining that a damn colonial with a damn foreign-type username is casting aspersions on good old British housing estate design. Sorry if I've fueled your paranoia. I'm a declared Anglophile, I love many aspects of your country, I just don't like off the peg estates springing up in inappropriate areas. Link to comment Share on other sites More sharing options...
manshimajin Posted February 22, 2010 Share Posted February 22, 2010 Christ can you imagine that. Someone richer that Tilliard wanting to take over the IoM. It'll never happen ... Hasn't Tillyard left aready? He was quoted in the Financial Times last year as saying that if he had to pay a penny more tax he would leave the Island - surely he would be the sort of person who lived and died by his word....so with the tax cap increased he MUST have left on principle having promised to do so.... Link to comment Share on other sites More sharing options...
taz8130 Posted February 23, 2010 Author Share Posted February 23, 2010 Coincidence or call it what you will but had a chance converstaion last night at a 40th birthday meal with a guy who works for one of the islands estate agents. He agreed that things were stagnating with more property expected on the market which will push prices down. His advice was that if selling...do it now - if you're buying wait a few months to see the prices drop. He dismissed the opinions going around that property prices will drop 20 - 25%. General agreement sets the figure at 15 - 18 %. I'm sure there will be replys saying it's all Bull. All I can say is it's what they guy said. Link to comment Share on other sites More sharing options...
Slim Posted February 23, 2010 Share Posted February 23, 2010 I'm sure there will be replys saying it's all Bull. All I can say is it's what they guy said. It's not bull, it's a prediction. Link to comment Share on other sites More sharing options...
thesultanofsheight Posted February 23, 2010 Share Posted February 23, 2010 Coincidence or call it what you will but had a chance converstaion last night at a 40th birthday meal with a guy who works for one of the islands estate agents. He agreed that things were stagnating with more property expected on the market which will push prices down. His advice was that if selling...do it now - if you're buying wait a few months to see the prices drop. He dismissed the opinions going around that property prices will drop 20 - 25%. General agreement sets the figure at 15 - 18 %. I'm sure there will be replys saying it's all Bull. All I can say is it's what they guy said. He's an estate agent! If you met him 5 years ago he'd have told you that prices would double over the next 10 years. That's the trouble with estate agents ... if they over lie on the the way up you can reasonably assume that they will over lie on the way down too. Link to comment Share on other sites More sharing options...
manshimajin Posted February 23, 2010 Share Posted February 23, 2010 I'm sure there will be replys saying it's all Bull. All I can say is it's what they guy said. It's not bull, it's a prediction. A recently unearthed picture of estate agents predicting the future of property prices on the Island: Link to comment Share on other sites More sharing options...
taz8130 Posted February 23, 2010 Author Share Posted February 23, 2010 Link to comment Share on other sites More sharing options...
manshimajin Posted February 27, 2010 Share Posted February 27, 2010 It's a while since I had a look at the various estate agent websites so to amuse myself I did so this afternoon, focusing on Castletown. What struck me was how much 'middle to high end' property is now being offered for sale in such a small place. Could this be that some owners of more expensive property are seeing the writing on the wall or are they reaching the point where they can't hold on any longer to pay off debts? I haven't looked at other areas but wonder if this is a 'trend'? Maybe they are all joining Mr T and leaving threatening to leave the Island now the tax cap has been increased? Was also surprised to see those two bedroom flats, Ellan Veen, on College Green being marketed for £775,000 each. They have sea views (perfectly positioned for a SW storm), underground parking and 2 beds on a bit over 1,000 - 1,300 sq ft. Not exactly oozing luxury at the price. Link to comment Share on other sites More sharing options...
hboy Posted February 27, 2010 Share Posted February 27, 2010 I was also surprised to see those two bedroom flats, Ellan Veen, on College Green being marketed for £775,000 each. They have sea views (perfectly positioned for a SW storm), underground parking and 2 beds on a bit over 1,000 - 1,300 sq ft. Not exactly oozing luxury at the price. Yeah, we have a focus on attracting rich mental people at the moment. Link to comment Share on other sites More sharing options...
manshimajin Posted February 27, 2010 Share Posted February 27, 2010 I was also surprised to see those two bedroom flats, Ellan Veen, on College Green being marketed for £775,000 each. They have sea views (perfectly positioned for a SW storm), underground parking and 2 beds on a bit over 1,000 - 1,300 sq ft. Not exactly oozing luxury at the price. Yeah, we have a focus on attracting rich mental people at the moment. My cynical view - one can only assume that the difference between a realistic price and the asking price reflects the developer's percentage cut of the personal tax savings someone coming over to take up Manx tax residence will benefit from. Link to comment Share on other sites More sharing options...
localyokel Posted February 27, 2010 Share Posted February 27, 2010 My cynical view - one can only assume that the difference between a realistic price and the asking price reflects the developer's percentage cut of the personal tax savings someone coming over to take up Manx tax residence will benefit from. Its not even that. If you look at high profile expatriation in recent years its clear that we are back of the queue. Peter Green and half of Formula One has gone to Monarco, and even Guernsey has ended up with the likes of Guy Hands (Hedge Fund Billionaire) and Jenson Button who have bought multi million pound property to take advantage of its tax cap (which is double ours at £250k). We are not building for them - we are building battery farms for white shoe wearing northern businessmen and their leopard skin leggings clad wives who are 'considerably richer than you'. If some nob end is prepared to drop £800k on a two bed apartment in the IoM then let them. It will be worth bugger all in a few years. Most of us know that but then again if these people were astute they'd be buying in Monarco, or Jersey, or Guernsey. Not here in the Isle of Man. Our sales message seems to be - if you can't afford to live anywhere else to save tax buy here at over inflated prices. Link to comment Share on other sites More sharing options...
manshimajin Posted February 27, 2010 Share Posted February 27, 2010 we are building battery farms for white shoe wearing northern businessmen and their leopard skin leggings clad wives who are 'considerably richer than you'.... Our sales message seems to be - if you can't afford to live anywhere else to save tax buy here at over inflated prices. Love your description - as a kid I used to think of the way those ladies spoke as being 'laa di daa, laa di daa, cloonk". I suspect we are saying the same thing in different ways. If you want to save tax and can't afford those other places Mr Developer will charge you an inflated price for the privilege of buying a two-bed flat here. So some of what you save in tax you hand over as extra profit to Mr Developer. I have to say that IMO these flats would look better on a Business Park Link to comment Share on other sites More sharing options...
taz8130 Posted February 27, 2010 Author Share Posted February 27, 2010 we are building battery farms for white shoe wearing northern businessmen and their leopard skin leggings clad wives who are 'considerably richer than you'.... Our sales message seems to be - if you can't afford to live anywhere else to save tax buy here at over inflated prices. Love your description - as a kid I used to think of the way those ladies spoke as being 'laa di daa, laa di daa, cloonk". I suspect we are saying the same thing in different ways. If you want to save tax and can't afford those other places Mr Developer will charge you an inflated price for the privilege of buying a two-bed flat here. So some of what you save in tax you hand over as extra profit to Mr Developer. I have to say that IMO these flats would look better on a Business Park £775k for a leasehold 2 bed apartment !!!! - Don't these developers realise that for that price you could buy something bigger, detached, better located in a warmer climate and freehold ? Plus if you can afford to spend that much on a property you have probably got a bloody good accountant that could see you living anywhere you want and arrange to offset any tax advantage the IOM could offer. Link to comment Share on other sites More sharing options...
manshimajin Posted February 27, 2010 Share Posted February 27, 2010 £775k for a leasehold 2 bed apartment !!!! ... if you can afford to spend that much on a property you have probably got a bloody good accountant that could see you living anywhere you want and arrange to offset any tax advantage the IOM could offer. In fairness leasehold or freehold may not make that much difference when the Ocean's rise. Give that, I would suggest Lichtenstein or Andorra might be a safer bet. It was fascinating to see these properties when the Winter gales were at full strength. Dramatic views no doubt and you wouldn't have wanted to open a window on either floor for fear not only of water but also of the stones contained therein. Link to comment Share on other sites More sharing options...
Tempus Fugit Posted February 28, 2010 Share Posted February 28, 2010 Good question! I think you are a robot, you have only ever posted with a maximum of 4 words, usually just "Interesting!" go on, tell us what you really think Link to comment Share on other sites More sharing options...
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