The property forums have experienced a decrease in the number of posts, with some being particularly inactive, but those that are busy still show an appetite for what is happening.
Dubai is one market where interest is unlikely to slow and opinion and information on the forums is lively. It is a similar story in terms of what to buy and whether off-plan is still as profitable as it used to.
{jumi [adcode/adsense-468×60.txt]}
One thread on the totallyproperty.com buying overseas forum suggests that off-plan has had its day. Not only have developments not made much profit on completion but some have even lost, it is claimed.
This is not just due to the credit crunch and global economic turmoil but due to the disappearance of a special breed – the property speculator. This post asks: Where have all the speculators gone?
It would appear that this special species are no longer pushing up prices and it is suggested that they can't get the funds anymore.
It could also be due to rents coming down. One member on the forum points out that off-plan properties on completion are often more expensive than others nearby and these older existing buildings are often of better quality.
Certainly rejecting off-plan does reduce the risk of property investment and if all these speculators have gone into hibernation for the duration of the current crisis then there may be opportunities for new entrants.
Property investors haven't just disappeared to hide their money under the mattress. A new post started just a few days ago shows this. A 24 year old from London want to buy his first properties abroad. A dying breed you might think!
Well he doesn't get much encouragement from fellow forum members. He wants to look at Italy. Suggestions from other property members are Bulgaria and the Philippines.
Certainly regular readers of the property forums and Property Wire's news service will know that the sunshine seems to have left the Bulgarian property market.
'I have never met any smart investors in Bulgaria,' comments senior member Investy. And on the Channel4 forum reveals that developments are behind and investors looking to 'cut and run'.
'When you have people putting deposits on eight off-plan tat properties hoping to then flip seven of them to pay outright for the 8th you know trouble is looming,' from member BTL optingout, pretty much sums it up.
Lack of completion is causing concern among investors in the Bulgarian ski resort of Bansko. Although some apartment blocks are finished the infrastructure around them is not and they are worried about being able to rent them for this ski season if it still resembles a building site.
With the nationalisation of Bradford & Bingley, the UK's main buy-to-let mortgage lender, there are a lot of concerns over what is going to happen to this market. On the landlordzone.co.uk forum there is an active discussion about what to do if you have a mortgage with B&B.
Concerns centre around whether to stick with the B&B loan or move to another company. Those with fixed rates are advised to stay with them. For those who decide to move, however there are few good deals around.
Australia is one country that isn't mentioned very often on the property forums, perhaps because it is not so easy to reach from many parts of the world. But an interesting thread on the totallyproperty.com forum claims that an increasing migrant population means that there could be a property shortage by 2011.
The arguments in favour of Australia include a stable government, investor friendly tax regime for investors and a general upward trend in property prices although like everywhere else in the world Australia is suffering from the current credit crunch.
Perhaps all it needs is for the hibernating speculators to come out into the autumn sunshine and become active again.