Home » Architecture » World’s 20 Best Places to Invest in Property
DesignRulz26 January 2015
Buying a home can be a great investment, as investors gobbling up properties over the last few years–when prices and mortgage rates were at the bottom–well know. People love property because it has that tangibility that other assets don’t have. Perhaps you fear you’ve missed the best time for buying housing. Prices were low last year, but there are still deals to be had. If you’re looking to get into a first home that you’ll live in for a few years, or simply buy a fixer-upper that you can rent out right away, there are still plenty of cities where your money is a fairly safe bet. Take a look on our suggestion, and take the right decision!
Even the super-rich have been a bit wary of Monaco in the past few years, but 2013 was “one of its best years for real estate in recent history”, says Alexander Kraft, the chairman of Sotheby’s International Realty. If you have the cash, the principality looks like a safe bet.
Already perceived as a safe haven from eurozone problems, Switzerland, pictured top, has recently imposed strict limits on second-home owners. This has deterred some new developments, but led to a surge in demand for properties that already have the relevant planning permission. The country’s other attractions, including stunning scenery and a stable economy, are going nowhere.
Once regarded as the quintessential boom-and-bust destination, Dubai may well have turned the corner. You either love or hate Dubai, but there seem to be enough hard-headed Middle Eastern buyers viewing it as a safe refuge from the turbulence of the Arab Spring to induce cautious optimism.
“Contemporary villas in Marbella continue to be highly sought after,” says Ian Cunningham of Escape to Spain. The downturn in the Spanish property market has been well documented, and any green shoots of recovery are as flimsy as a flamenco dancer’s tassels. But it would be logical to expect the top end of the Spanish market to pick up more quickly than the country’s market as a whole.
The eyes of the world will be on Brazil during this summer’s World Cup. Property investors scent a once-in-a-generation opportunity – and with good reason. “Brazil has become an investment hot spot because of the government’s drive to end the chronic housing shortage in the country,” explains Anthony Armstrong Emery of the EcoHouse Group. The company is financing a number of major low-cost housing developments in the north of the country
“The main risk is the shorter boom-bust cycles that occur in Brazil and across Latin America. Make sure you work with an international lawyer with suitable indemnity insurance in place (that covers your home jurisdiction) and it’s advisable to focus more on the larger, more cosmopolitan cities such as Rio de Janeiro and São Paulo,” comments We Buy Any House expert Ruban Selvanayagam (who formerly worked on social housing projects).
“Mauritius is still quite a niche destination, but it has a strong rental market. What’s more, overseas buyers qualify for residency, along with associated tax benefits,” adds Charles Weston Baker of Savills. The island has gone from strength to strength in the past few years, with more and more high-quality golf courses to augment those idyllic sun-drenched beaches.
“Austria saw price rises of 10-15 per cent in 2013, with demand for high-quality developments far outstripping supply,” says Giles Gale of Mark Warner Property. The Austrian government is clamping down on illegal lettings, and there has been a surge in demand for properties that have the requisite holiday letting authorization in place. The market still represents good value, but you must know where to look.
Tourist numbers in Montenegro are expected to grow faster than in any other country in the world, according to the World Travel and Tourism Council. And a knock-on effect on the property market seems inevitable, says Aleksandar Kovacevic of Savills Montenegro. He forecasts a 10 per cent growth in house prices in 2014. With the property market still in its infancy, expect better value for money than in neighbouring Italy or Croatia.
Barbados is a sovereign island country in the Lesser Antilles. It is 34 kilometres in length and up to 23 kilometres in width, covering an area of 432 square kilometres (167 sq mi). It is situated in the western area of the North Atlantic and 100 kilometres east of the Windward Islands and the Caribbean Sea; therein, it is about 168 kilometres east of the islands of Saint Vincent and the Grenadines and 400 kilometres north-east of Trinidad and Tobago. Barbados is outside of the principal Atlantic hurricane belt.
It might seem a bit counter-intuitive to invest in Poland when so many Poles have moved in the opposite direction. But EU infrastructure funds are pouring into the country, and many multinational companies are investing there. Property in blue-chip cities such as Krakow, a fabulous destination in its own right, is starting to look like good value. This buoyant country is proof that, while certain overseas destinations remain evergreen, there is always room for punchy newcomers on the global property ladder.
Real estate in Manhattan comes at an eye-watering price. But the market is booming, particularly in the Financial District, with thousands of employees coming to work at the new World Trade Center alone. “There is so much development in the pipeline that the area is primed for significant growth,” explains Karen Mansour of Douglas Elliman Development.
The Portuguese market has been almost as precarious as the Spanish sector in recent years. Take the long-term view, however, and it is hard to argue against such a beautiful location with a well established British presence, whether homeowners or holidaymakers. “You can find a pretty three-bedroom villa with a pool for around £300,000,” says Zoie Hawker of Fine & Country Carvoeiro.
Liguria is bordered by France to the west, Piedmont to the north, and Emilia-Romagna and Tuscany to the east. It lies on the Ligurian Sea. The narrow strip of land is bordered by the sea, the Alps and the Apennines mountains. Some mountains rise above 2000 m; the watershed line runs at an average altitude of about 1000 m. British buyers are looking to let out their second homes in Italy more than in the past, which puts a premium on properties close to tourist hot spots.
Panama might not have the same ring of romance as other Latin American destinations – except for hat-fanciers, perhaps. Tourism in the Republic of Panama is rapidly growing.“There is a thriving entrepreneurial environment, and the tax-free zone of Colón is another huge draw,” says Charles Weston Baker of Savills International.
The number of overseas property purchases in Turkey rose by 78 per cent in the first half of 2013, with the city of Istanbul leading the way. “Most of our clients who were interested in buying Turkish properties used to be British,” explains Julian Walker of Spot Blue International Property. “Now we are seeing a lot of buyers from the Middle East, who view the country as a safe place to invest.”
Buy real estate in Tuscany and, whether it appreciates or depreciates in value, you will always be the envy of your friends. The Italian property market has been flaky in recent years, but the upmarket buy-to-let sector remains buoyant. There is demand for well-located pieds-à-terre, and some favourable tweaks to the Italian tax system kick in this year.
The Côte d’Azur, often known in English as the French Riviera, is the Mediterranean coastline of the southeast corner of France, also including the sovereign state of Monaco. There is no official boundary, but it is usually considered to extend from the Italian border in the east to Saint-Tropez, Hyères, Toulon, or Cassis in the west.
A city perceived as a magnet for beautiful people will always buck national trends. This probably explains why Barcelona is looking a better bet than the still struggling Costas.
This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish.AcceptRead More
