For those of you who love lists of international real estate hot spots, here’s yet another that may be interesting. And no, Uruguay is no where on the horizon. Is this a good thing, or a bad thing?
Propertyshowrooms.com produced a list of the supposedly most outstanding property hot-spots across the world, in terms of projected investment returns. By combining the key results of several surveys in the public domain published by companies like Price Waterhouse Coopers, Knight Frank, and Forbes, the company has produced what it feels is an authoritative Top Ten places to invest.
“It’s very much a buyer’s market out there, with emerging markets taking the industry by storm,” says Danny Bance, Managing Partner of Propertyshowrooms.com. He continues: “What’s for sure is that it’s a very exciting time for property investors and individual home buyers alike. Places like Morocco and Brazil have certainly surprised the market with the quality of their product and rapidly improving infrastructure. Both factors are great for short and long-term investment.”
Counting down the list, Romania weighs in at number ten, followed by Estonia, Panama, Egypt and Malaysia. Morocco has a strong placing at number five, with its current high GDP growth and low cost of living compared to European countries.
Number four is Turkey, with ongoing EU membership talks continuing to boost the property market. It’s true to say that a recent legal debate in Turkey has made the purchase of property by foreigners something of a grey area, as the ruling elite decide on the size of land that foreigners are allowed to purchase. This is expected to be resolved soon.
A surprise entry at number three is Canada, which is attracting investors due to political and economic stability. The USA is at number two, with Florida’s pummeled market a favorite with foreigners, particularly given current weakness of the American dollar.
And the number one investment hot spot? The answer is: Brazil.
“Brazil is a country which has seriously found its feet in the property market and is beginning to outshine many other more established sectors,” says Danny Bance. “Obviously there are several factors involved in placing Brazil at number one, including good transport links and the availability of 100% freehold properties.” He continues: “Brazil is tipped to be among the world’s top five largest economies by 2050, according to global investment banking firm Goldman Sachs. Plus the recent discovery of off-shore oil reserves, and the cultural boost of being awarded the 2014 football World Cup, has seriously put Brazil on the map. In addition, it has the highest GDP in South America. It really is our number one investment hot-spot.”
So there you have it. No bubble here, except in perhaps land prices.
Stay Tuned!
Steve Bowman
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June 5th, 2008 at 11:22 am
[...] and rapidly improving infrastructure. Morrocco and Canada are also hot spots, according to Uruguay Coastal Properties. They get their numbers from Property Showrooms, an online investment center for international [...]