78: Overseas Market Summary
07-29-2006
PropertyInvesting.net team
Risks are higher overseas than for many years – the Euro interest rates are rising, the US interest rates have shot up and both housing markets have cooled significantly. The Spanish property market has started cooling along with the French market. The problems in the Middle East are not helping. The Far East is still booming and Australia has seen a resurgent property market. PropertyInvesting.net believe countries like Australia, China, Singapore and Vietnam are good long term property investment opportunities.
In Europe - Bulgaria, Romania, Albania, Montenegro and Slovakia appear to offer good value – but are relatively high risk. Coastal villas and ski/mountain chalets or capital city centre apartments are probably the safest bet. You need to do thorough research and find a good local English speaking lawyer you can trust. Make sure there are no significant risks to buying the title. Don’t put all your money into it – make sure you only expose money you can afford to loose. Anyone who bothers to travel to such countries and purchases a property in 2006 will likely find returns very high in future years – but there is a chance you will loose the property if things go wrong. Thoroughly recommended for the risk taking entrepreneurial property investor who likes to explore! And if you don’t act, or action, you’ll never make a million – so what are you waiting for!
Further East, Russia and Kazakhstan have huge oil and gas reserves – this commodity wealth will find its way into the property market, so Almarty, Baku, Moscow and St Petersburg look like good choices. Closer to home, Norway is one of the wealthiest and most stable countries in the world with huge oil/gas wealth – a good bet all round. Another excellent property market exposed to oil and gas is Canada – with Calgary and Alberta highlights.
In Africa, South Africa remains a robust choice. Libya is an interesting opportunity for the real explorer.
In South America – as interest rates drop, Brazil and Argentina will likely become even more attractive – their GDP growth is likely to be in the 4-6% range for a few years which will probably spur robust capital gains.
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