Print

Investment Property Watch - September 2008

Friday, October 24, 2008

Nabbing the top spot in TheMoveChannel's investment property watch for September was Portugal, which has experienced the fiercest holiday home growth in Western Europe in the last few years. Old favourites such as Spain and France didn't get a look-in, giving up their spots to some emerging markets which are hotly tipped to be the next big thing...

The Algarve in Portugal has long been a tourist hotspot, with more than five million visitors from across the globe making the pilgrimage to the sun, sand and sea each year.

Despite being more expensive than some European destinations, Portugal's property market is still one of the most popular with British buyers.

The Algarve still reigns supreme as the top British choice of destination in Portugal, but the Silver Coast has seen a rise in popularity in recent years, and places such as Alentejo and Costa Verde are now on the property buyer's radar.

An apartment in Portugal took the top spot in September's investment property watch, grabbing the highest level of interest on the site.

Dan Johnson, Director of TheMoveChannel, said, "The project offered for sale on the Silver Coast that fared so well last month was a radical rethink of the normal approach developers take in that area.

"Already offering properties that were below comparable prices, the developer responded quickly to changing trends in demand to put together an attractive project, in a wonderful location, at prices that are much more likely to be found in an emerging market than in Portugal's second most popular golf region.

"There may be less security when working with a smaller developer than with a much more established brand, but the added flexibility and responsiveness can be a huge plus," added Mr Johnson.

Despite the ongoing problems in the American property market, with the subprime crisis forcing house prices into a cul-de-sac, a property in Daytona Beach in Florida nabbed the second spot.

Florida is one of the states that has been most affected by the credit crunch, as, along with California and Nevada, it experienced one of the biggest boom so prices had that much further to fall.

As the American housing market remains so uncertain, cash rich international investors are flocking to Florida to snap up bargains. Many homes all over the country have been abandoned by struggling families unable to keep up mortgage payments. 

In some cities, such as Detroit, you can pick up a two bedroom home for an astonishing £800.

Dan Sawyer, Property Investment Consultant at Assetz, which is marketing the number two property, said, "The US property market is now showing signs of recovery and prices are set to stabilise over the next couple of years.

"With some of the lowest unemployment in America, Florida has a solid history of demand from US residents relocating to the state, including young workers, professionals, retirees and expats.

"The Florida rental market currently has a healthy demand, with a low supply of property to rent and there are many tenants looking for long-term residential lettings.

"We have been working with experts on the ground that are sourcing properties in prime locations securing exclusive below market value deals for our clients," Mr Sawyer added.

Commercial proving popular

Commercial property opportunities attracted a good deal of interest, with India a surprise entry at number three with a shopping mall in a suburb in New Delhi for sale.

Tipped as one of the world's best emerging markets, India offers fantastic growth potential over the coming years, providing a political and economically stable environment ripe for investment.

The United Arab Emirates made it into the top ten, at number four, with a buy back property.

Dubai does seem to be one of the ultimate lands of endless opportunities, with investors flocking to the emirate faster than you can say UAE.

More than 25,000 foreigners relocate to Dubai each year and the property market reflects that popularity.

New hot favourite Brazil made an appearance, dropping one place from August ranking to number six. Already one of the fastest growing economies in the world, Brazil is set for further growth over the next few years, as the host country of the 2014 FIFA World Cup.

Old favourite Italy made it to number eight, with a property in Calabria. Traditionally, the north of Italy has been the most popular, and the less fashionable southern regions were overlooked. Now, savvy investors seeking a cheaper property are increasingly turning their attentions to the south, with the Calabria region becoming ever more sought after.

Table showing September's enquiries

Hide table

Rank	Property	Country	Company
1	Apartment in Portugal	Portugal	Nest Egg UK Ltd
2	Waters Edge- 2 bed house, Daytona	USA	Assetz International
3	Dwarkadhis Mall, India	India	Gama Premier Properties
4	Buy back property	UAE	Best Investment Property LTD
5	Land plots in Arkansas	USA	Investment Land with Planning Limite
6	Tulip Inn Serviced Apartments	Brazil	Talamh Properties Ltd (t/a Latin American Property Partnership)
7	Apartments in Sunny Beach	Bulgaria	Acquire Abroad Limited
8	1 bed apartment in Calabria	Italy	Property Growth International Ltd
9	3 bed villa in Veliko Tarnovo	Bulgaria	Sutton Kersh Binstock
10	Land in Cayman Brac	Cayman Islands	Brooks Global Property

Print Show Full Table

*Results are based on number of sales enquiries generated per month.

To keep track of TheMoveChannel.com's hottest property investments throughout the month, please visit the Investment Property Portal on our website. Check out our new commercial properties for sale at our brand new commercial site Commerical.themovechannel.com.

Picture by stylesr1

Bookmark This Page

Tag, share or bookmark this page:

Recent Related Stories

Subscribe to Newsletters