Bet you have not thought of buying a property in this country!
The real estate market is in turmoil with new property economies springing up world-wide. Cheap flights have opened up the world’s destinations so the real estate market is truly global. Where next to invest then?
Recently on a UK site’s top 10 of Overseas Property destinations (for sales enquiries) featured at #1 was …. wait for it Sri Lanka! Well known for Tsunamis and civil unrest. OK - the island is beautiful and the destination is popular for honeymoons. Land values in Europe are rising fast, but they are rising much faster in places like Sri Lanka, where they are starting from a far lower base. Of course, pricing is very attractive and must be one of the main selling points - land at £5000 per acre!
So where were the “popular” countries Spain, France, Italy, Portugal? Nowhere in the Top 10!
Other countries in the Top 10 were USA, Morocco, Bulgaria, Canada, Mexico, Thailand, Cyprus and Austria. Florida, USA offers incredible value at the moment - the dollar is very weak against most major currencies so prices are very attractive. Good rental yields, good location near Disney World and easy access to an airport. Given the current weakness of the dollar, now is definitely the time to enter the US property market. And with prices starting at just £50,000 for apartments, investors have the opportunity to snap up a bargain properties in a wonderful location.
So although the traditional markets are suffering the more exotic markets are attracting serious investors providing they offer good value, discounts or high rental yields.
Are people looking for property?
Recent research found that nearly 40% of Brits regularly surf the web looking for property and over one in ten (14%) property website users admitted to spending more than an hour a week searching for homes online. The worst addicts were true property obsessives, with 1% of site users spending more than three and a half hours a week looking at homes on the web.
The new generation of property websites gives people more choice and information. This means that, whether you’re a real house hunter or a dream home surfer, you’re going to have access to the widest possible range of overseas properties and location can be anywhere in the world!