Dear friends,
Despite being relatively unknown nowadays, the 1958 French film “Les Amants” (“The Lovers”) was very successful when it hit the cinemas. It was considered a box-office hit after reaching more than 2.5 million admissions in France alone. Based on a 19th century short story by Dominique Vivant, it is a typical French romantic drama about complicated couples, which the French cinema produces by the dozens every year. The film however became famous in the USA for another reason.
“Les Amants” was judged to be an obscene film due to some scenes that featured nudity, so the manager of one of the cinemas that was showing it was brought to justice. The said manager was convicted 3 times but appealed each time and eventually the case reached the US Supreme Court. The Supreme Court reversed the previous convictions by ruling that the film was not pornographic and therefore it was constitutionally protected.
Bizarrely the judges couldn’t agree why they reversed the convictions. Each had their own explanation, but the most famous opinion came from Justice Potter Stewart who stated: “I shall not today attempt further to define the kinds of material I understand to be embraced within that shorthand description [i.e. obscene]; and perhaps I could never succeed in intelligibly doing so. But I know it when I see it, and the motion picture involved in this case is not that”. But what does all this have to do with Spanish Real Estate?
At Artemis Assets we like this little incident because it reminds us of the answer we give to the following question from our clients: “How do you identify a great Real Estate opportunity”? There is no definition and there is not one singular method to identify a good opportunity. We utilize our experience and we know it when we see it! We visit the property, the neighbourhood, and we do our homework before we share an opportunity with our clients.
But we don’t stop there. We use a series of data points to determine if a property has potential to return an overperforming yield for the investor and to appreciate in the long run. That includes metrics about the rental values, the building, the neighbourhood, the city, and finally macroeconomics.
If you trust our data, our process, and our experience please get in touch with your requirement. We don’t have a strict definition of good opportunities, but we will surely show you double-digit yields.
Until the next one!
