What's behind all the construction on the island? Is it a good time to invest in Real Estate at Asphyxiation Point? Should you be buying or selling right now? I am sure more than a few of you have been wondering about such questions and more.
Unfortunately, our requests for comment to the construction business have gone unanswered so far. A cloak of secrecy seems to surround the construction industry operating at Asphyxiation Point. And so your friendly neighborhood reporter finally decided to jump the official channels and go straight to the field. What follows is a brief summary of what I learned by talking to the engineers and laborers on the ground.
So first... The good news ! Turns out that the Real Estate market in Asphyxiation Point is booming right now. The record influx of tourists this summer has driven property prices through the roof. Existing businesses are reaping the benefits of an extremely good tourist season and most of the construction has actually been remodeling to provide better services, better facilities to the ever increasing tourist population.
Unfortunately, our requests for comment to the construction business have gone unanswered so far. A cloak of secrecy seems to surround the construction industry operating at Asphyxiation Point. And so your friendly neighborhood reporter finally decided to jump the official channels and go straight to the field. What follows is a brief summary of what I learned by talking to the engineers and laborers on the ground.
So first... The good news ! Turns out that the Real Estate market in Asphyxiation Point is booming right now. The record influx of tourists this summer has driven property prices through the roof. Existing businesses are reaping the benefits of an extremely good tourist season and most of the construction has actually been remodeling to provide better services, better facilities to the ever increasing tourist population.
The housing market too has benefited tremendously from the ever increasing influx of tourists. Vacation homes are being rented pretty much as soon as they are being put on the market. A few land owners have even decided to use this boom to their advantage, replacing disused rundown warehouses with new upscale apartment complexes.
Fortunately, the sudden increase in the number of houses does not seem to have put a strain on city infrastructure either. With most folks preferring to walk or bike in the lovely weather, cars haven't really been a concern. Concerns about water contamination via the storm drains running under the town have proven unfounded so far as well.
Fortunately, the sudden increase in the number of houses does not seem to have put a strain on city infrastructure either. With most folks preferring to walk or bike in the lovely weather, cars haven't really been a concern. Concerns about water contamination via the storm drains running under the town have proven unfounded so far as well.
So what's the bad news then? Well... The only dark lining in the silver cloud has been the fact that some of the businesses had to undergo renovation by necessity not by choice. Hurricane Daphne back in April hit some businesses harder than construction crews had originally thought. The recent flooding of the PD Prison brought safety concerns to light once more and has prompted most businesses to take a second look at their foundations.
While buildings are by no means in danger of collapsing, concerns of mold and rot have prompted more than one major renovation project around town. In some cases, businesses decided to downsize to cut down on labor and material cost. Of course, almost every renovation has been also accompanied with newer and better facilities such as the Dew Drop Inn pictured below. Smaller... but newer and better.
While buildings are by no means in danger of collapsing, concerns of mold and rot have prompted more than one major renovation project around town. In some cases, businesses decided to downsize to cut down on labor and material cost. Of course, almost every renovation has been also accompanied with newer and better facilities such as the Dew Drop Inn pictured below. Smaller... but newer and better.
To summarize, I would like to reassure the residents of Asphyxiation Point that there is no better time to be here. If you are an existing business or home-owner, all that much the better. Even if Hurricane Daphne did leave behind some residual damage, the record influx of tourists will more than cover any renovation costs. In fact, the only real sufferers are probably incoming vacationers given the cutthroat competition for vacation homes.
Reported by John Doe
Reported by John Doe
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