Dear Friends
The last few years I have been asked repeatedly the same question: why invest in Spain. Why not in one of the major capitals like London or Paris, with their liquid real estate market that always attracts investor interest? Why not in a developing country like Thailand or Mexico? Why not in one of the upcoming cities of the Middle East like Dubai or Doha? It is a valid question and as investors we should be looking at every market and every opportunity.
My reply has always been quick. It’s a question of risk and reward. That means, how much risk am I taking? This could be price risk, country risk, interest rate risk, currency risk, legal risk, operational risk, even language risk. And how much am I rewarded for that risk? This reward comes via rental yield, via asset appreciation, or both. For me Spain has represented the best risk/reward of all these opportunities. Paris or London? The rental yield is too low. Thailand or Mexico? The Currency and Legal risk is too high. Dubai or Doha? The Commodity Price and Operational risk is too high.
Every investor is different and what seems like a risk to one person might be an opportunity to another. But in Spain I have found a stable legal framework, relatively low property prices, low interest rates, and ever increasing demand to move there. In other words, I have found what I call “northern rates and southern yields”. The stability of a developed country and the potential of a developing country.
I have prepared a presentation for you where I explain all this in detail, you can find it here. Please share it with anyone you know who might be interested to hear about Artemis and how we can help investors.
Lastly, we have started hiring for Relationship Manager positions in Spain and outside of Spain. If you know somebody who has experience in Real Estate and/or Wealth Management and is interested to work with us on full-time or part-time basis please let us know.
From now on we will be sending regular updates with news and investor material. Stay tuned!
