5 Prime Locations Worldwide to Secure a Great Property
May - 05 | 
9 comments. | 
Overseas Property News
Where’s best to invest? Here’s our list of the best global locations where property prices dipped but are sure to bounce back.
Published annually, the Knight Frank Prime International Residential Index gives a reliable insight into the state of worldwide property markets.
It’s impossible to ignore the effects of the global recession on the international housing market. However, decreasing property prices create opportunity for the canny buyer, and striking whilst the market is depreciated gives buyers a unique chance to catch prime property before it bounces back in value.
Here are the five fastest falling property markets in excellent locations which are sure to see a strong recovery in the coming years.
Dubai, United Arab Emirates
Property prices in the coastal Emirate fell by 45 per cent last year, making Dubai suddenly a lot more affordable than it used to be. The architectural opulence of Dubai make the city centre one of the most desirable hot spots of the Middle East and a quick look at the figures on a mortgage calculator to help compare mortgages will soon tell you that Dubai is perfect as an investment project.
The Algarve, Portugal
Continental Europe has had mixed results with its fluctuating property prices but the Algarve has suffered worse than most areas. Property prices are down 30 per cent on average in this beautiful part of southern Portugal. It could be ideal for a holiday home to escape any miserable weather.
Dublin, Republic of Ireland
Ireland’s capital city is rich in culture and history and is always a highly desirable area to live. Prices fell by a quarter last year, meaning a deposit to secure a mortgage will be eminently cheaper now than in previous years.
Barbados
The idyllic Caribbean Islands are picture postcard perfect but, with fewer people taking holidays last year, interest in property has declined. Prices in Barbados are 20 per cent cheaper than last year, superb value for money on a tourist trap that’s guaranteed to attract holidaymakers all year round.
New York, USA
The Big Apple is one of the most expensive cities in the world to live, along with London, Paris and Tokyo. A dip in the exponential climb in property prices in New York is a rare event indeed, and one to be seized with both hands. With a 12.5 per cent decline in property prices in the 12 months up to January 2010, New York property has never been so attractive to the cash-rich investor.
Sources:
http://www.knightfrank.com/wealthreport/property/global-view/
Pic sources:
flickr.com/photos/kevinl8888/1055253375/
flickr.com/photos/fredarmitage/3196251984/
flickr.com/photos/25533361@N00/1146176357/
flickr.com/photos/pamilne/1485961106/
flickr.com/photos/tarikb/49089681/
flickr.com/photos/stuckincustoms/4126733279/
I agree that these are probably 5 of the best places to buy property although I think others might disagree. I think at the moment Brazil should also be considered. Although may be not as exclusive as the above, the property market is currently very strong there thanks to their Olympics and World Cup winning bids.
GFX Global FX, Managed Forex Accounts
Thank you for writing this post we have shown it to our managed traders.
Letting them know to always keep learning because knowledge is the key to a good trading
and wise investments
Really these are the fabulous places to invest! Also look at this interesting article from forbes:
http://www.forbes.com/2008/07/10/best-property-markets-forbeslife-cx_mw_0710realestate.html
An interesting article but I do feel we are comparing apples to pears. A purchase in The Algarve can not be likened to a purchase in New York or Dublin. The last two are linked to the pure macroeconomic inidicators for their region whereas resorts like the Algarve, a relatively small destination, fluctuates according to tourism and a mixed bag of factors affecting economies other than the Portuguese economy. As a lifestyle destination the demand for property in the Algarve has declined and may not increase if other touristic markets gain buyers’ attention. The same is true of Barbados.
I would like to see a list of lifestyle investment destinations AND then a different list of pure investment destinations like NYC. Surely if we use the same rule of thumb as to falling prices and potential growth then Baghdad would be a likely candidate!
Let me add my 5.
Panama – Medellin – Fortaleza – Boracay – Lima
Nice & infomative post.
agree these are probably the top 5 places where investors would like to go for property investment.
I would prefer to buy in property in USA. And here’s article which says about Best USA Housing Markets in 2010
http://www.axispropertyinvestment.com/blog-detroit-ranked-top.html
Agreed! Brazil will be a good place to invest at the moment. Its seeing a steep growth in the middle class’s who will obviously start going on holiday more often. You also have a strong tourism market from the USA. Brazil is seeing some very nice resorts in planning stage and with current prices very low it’s a fairly low risk investment and a good time to get in.
I pick Algarve to be the best place to live. I love the sun, the beaches and the atmosphere.
I agree with some of those but what about places like Sandbanks in Poole, UK – that has the 4th highest land value in the world?