Over 50% of enquiries from potential investors were for properties priced under £60,000.With the UK property industry bracing itself for a bumpy 2008, Brits looking to buy into the booming overseas property market appear to be adopting a generally conservative approach, though this figure is nevertheless a 30% increase on January 2007.
Nicholas Marr, CEO of Homesgofast, comments: “Cheaper overseas property investments are in vogue, with the majority of our top five property regions offering prime real estate at bargain prices. The creeping credit crunch means that more investors are looking for property in places like Egypt to avoid having to raise finance.”
Taking the investment top spot for January 2008 was Dubai – with many clients coming from the British Asian community – despite the region witnessing a development slow down as new laws take effect. Homesgofast Dubai based Chief Sales Executive Hind Jouini “Despite the recent slow down by developers in launching new projects we are experiencing strong demand from the UK. The majority of our clients in January are from the British Asian community seeking to invest in Dubai
With property offers starting as low as £20,000, Brazil listed second in investment interest on the site, Brazilian property is witnessing increased interest from UK buyers thanks to growing reputations for strong appreciation, reasonable rental markets and beautiful beachfront properties. Steve Mitchell of overseas investment company Investinpro “”Brazil currently offers very competitive property prices with solid appreciation. The rental market is easy to understand with the worlds most beautiful beaches and colourful culture boosted by the fact that travel to Brazil is now more than affordable”
The US property market continues to catch the attention of UK investors, with property in Western New York and Florida ranking fourth on the site, as the sliding dollar makes more dream homes available at attainable prices. David Brennan of Brennan Properties “’ many clients are flocking to invest in Western New York as the prices are low, the yields are the highest in the world at the moment, the net returns are tremendous, and this trend is set to continue despite the credit crunch which has affected the more affluent states in the USA”
And in fifth place was property investment in Turkey, due to its growing popularity as a holiday destination and its good rental potential. Julian Walker of Turkish property specialists Spot Blue “”Turkey is a strong growing economy and is a popular place to visit; it offers good rental potential with demand which comes from tourists and from the local population. Belek is a great area for Golf and is easily accessible which a key element is for overseas property investors”
