Turkey, Egypt, Florida Hotspots – Spain, Greece, Italy Not

Turkey, Egypt, Morocco and Florida are top of the holiday charts this summer. As the weakness of the pound and dollar against the Euro continues to grab the headlines in the financial press, its impact on the ground can be seen in this summers holiday bookings, with greater numbers of British travellers opting to head further afield to holiday abroad in the emerging overseas property markets of Turkey, Egypt and bargain basement Florida. When you consider that the pound has fallen by over 17% against the Euro since last summer, can you really blame people for looking elsewhere and what does it signal for the future of European travel?

It appears that traditional British hot spots such as Greece and Spain are being replaced by their more exotic counterparts Morocco, Egypt and Turkey where the pound offers greater value for money. However, the weakness of the pound against the Euro over the last couple of years might go some way to explain how these fairly non-existent tourist destinations have somehow appeared from nowhere to take such a prominent position in the world of international property, and are fast becoming property hotspots in their own right.

The flight comparison website Cheapflights.co.uk says that searches over the past two months for flights to Egypt’s Red Sea resort of Sharm El Sheikh and to Tunisia are up by 50 per cent on last year.

A quick look at other areas of the world shows that the pound is still sound in a host of overseas destinations where the pound will buy more than last year, including Argentina, Iceland, Indonesia, Jamaica, Seychelles and South Africa – a number of which are already becoming popular with real estate investors seeking to cash in on their growing tourism status. Estancia Catalina in Argentina and the Goldeneye resort development in Jamaica are just two boutique real estate projects currently on the international property market.

Commenting on the findings, Nubricks.com overseas expert, Chintan Mahida said, “While it would be foolish to manage your overseas property investments purely based on the movement of currencies alone, they do actually offer a useful insight into potential hotspots of the future”. Even though the currency movement may reverse at any point in time, very often a chain of events has been set in motion whereby new and exciting areas for property investment can materialise.

There are so many different pointers that can help identify the next lucrative property market, the trick is knowing which ones to follow, when to get into the market and when to get out. There are many new property markets out there waiting to be discovered and a few old ones in need of new investment!

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