Skip to main content

Real Estate & My sister

My eldest nephew (he is 16 months younger than me) was telling me about the deals they struck in Italy.  Two years ago they purchased a small village near Trieste where they re-building the town as a retirement community.  They purchased the entire town for less than € 200,000 (building and all).  As Michel said, for less than the price of an ugly apartment in Strasbourg.

The plan, which is is near completion is to transform the entire village into a retirement community.  The small houses are perfect and will be able to support nearly 3,000 residents and a staff of nearly 1,000.  They are building medical clinics, and there is already a small hospital.

The amazing thing, as the owner of the town they decide what can and cannot be built, and they control zoning.  Access to the town is restricted to residents, their guests and workers.  The idea is to create an Alsacian retirement community.  The family had planned three sales offices for the project in Stuttgart, Strasbourg and Zurich, but they were never opened.  The project sold out before the real marketing effort started.  

My sister was supposed to move there with her husband this summer when the place was ready for its first residents.  

Now before anyone thought this was a cheap deal, they had to install all modern systems (potable water, sewers, and electricity), about half the buildings were ruined and road access was, difficult.  The total investment was substantially more than € 200 million, which sounds like a lot, but you have to take into consideration that it is housing for 4,500 people, and services too.  

What is truly amazing is that the residents of the new town will have the sun and heat of the summer and not the miserable winters of the region.  The cost to each resident is substantial but a fraction of what it would be in France.  Amazing

Note: This is not a sad place, it's just that it has been conceived to cater to German and French speaking residents.   It is just a planned community as it common in other parts of the world.  

Comments

Post a Comment

Popular posts from this blog

Ok so I lied...a little (revised)

When we began looking at farming in 2013/14 as something we both wanted to do as a "second career" we invested time and money to understand what sector of farming was profitable.  A few things emerged, First, high-quality, source-proven, organic farm products consistently have much higher profit margins.  Secondly, transformation accounted for nearly 80% of total profits, and production and distribution accounted for 20% of profits: Farmers and retailers have low profit margins and the middle bits make all the money. A profitable farm operation needs to be involved in the transformation of its produce.  The low-hanging fruits: cheese and butter.  Milk, generates a profit margin of 5% to 8%, depending on milk quality.  Transformed into cheese and butter, and the profit margin rises to 40% (Taking into account all costs).  Second:  20% of a steer carcass is ground beef quality.  The price is low, because (a) a high percentage of the carcass, and (b)...
Post a Comment
Read more

Spray painting Taylor Swift G650 aircraft (updated)

 First, a bit of paint will not harm anyone.  These climate activities are going to learn two things in the next few days:  (1) Trespassing at an airport is a felony almost anywhere in the world.  That means criminal prosecution.   (2) removing paint from an aircraft is expensive.   So these climate activists are about to find out the reach of the British criminal system and it will not be pleasant, the UK has very strict laws about that, I would be surprised if cleaning the aircraft of all the paint will cost less than $100,000.     I am sure that when they planned (premeditation) this little show they had a very valid logic to doing this.  Tonight, they are probably realizing the depth of their troubles.   I understand that in the UK it's a minimum one-year jail sentence.    Also, good luck travelling with a criminal trespass charge against you.  I am relatively certain that the airline industry will ...
Post a Comment
Read more

Janet Yellen from China supporter to Hawk...

There is rarely serious news in the world these days, it seems that most newspapers are filled with headlines and little else, and then Ms Yellen went to China.  Secretary Yellen has long been known in the Biden administration as the voice of moderation when dealing with China, yet as her trip which concluded yesterday a hawk was born:  She warned the Chinese against dumping goods in the United States.    fighting words! The American administration is very concerned about the lack of Chinese domestic consumption.   Even before the COVID-19 epidemic, there were already the beginning signs of a slowdown, automobile sales were off.   China is facing domestic deflation (a clear sign of collapsing demand) China imports few consumer goods, they import raw materials and intermediary goods.   It seems that the American administration is concerned that the Chinese administration will dump consumer goods abroad to keep its manufacturing machinery ...
Post a Comment
Read more