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The World’s Top Property Hotspots for 2009
January 26, 2009Article by Ray Withers
Oxford 26 January 2009 – International real estate investment specialists Property Frontiers have named their top six property investment hotspots for 2009 – and the list contains some surprises. Panama, the Central American republic tops the list due to a strong economy, a favourable tax regime and offshore banking attracting businesses from across the globe. Investors can choose a variety of different options, from hotels enjoying high occupancy rates, to offices, and beachside resorts. The expansion of the Panama Canal looks set to underpin future economic growth. The Malaysian capital Kuala Lumpur is a thriving city with affordable property and accessible cheaply with a new budget airline linking direct to London with flights from just £99. Outside of Kuala Lumpur is the teeming tourist playground of Sabah on North Borneo,
Where Brazil is a booming economy and with sun, samba and a cheap cost of living, is taking over from Florida as the fun capital of the world – and is the same flight distance from London as Miami. Tourism is lifting off around the northeast city of Natal, which boasts average daily temperatures of 28°C all-year-round and mile after mile of sandy, palm fringed beaches. If traditional buy-to-let is the target, Sao Paulo is one of the world’s largest and fastest growing cities with an insatiable demand for quality accommodation. Slovakia’s High Tatras national park offers all-year round tourism as a UNESCO area of outstanding natural beauty. In the summer, the mountains are an attraction for walkers and golfers, while in the winter cheap skiing lures visitors from all over Europe.
The USA is tipped as one to watch as prices bottom out. Apartments in Florida are selling at 54% lower than their launch price, and according to the builders, at less than their build cost and offer an instant 6% rental return. Coming in last is the UK, with property bargains piling up at auction houses and market commentators still forecasting that prices are stagnating or still falling in most areas. “In real terms the pound is at a point not seen for 10 years. This offers a fantastic buying opportunity for international investors. As a company we have never seen so many enquiries from our international investors looking for UK property. A combined depreciation of the pound and the market now makes UK property some 54% cheaper than a year ago.
For the first time in our history, the emerging markets prices are to be found on our doorstep and not halfway around the world,” said Property Frontiers sourcing manager Ben Jefferis.
For more information contact Property Frontiers on +44 (0) 1865 202700.