Turkey ‘offers alternative to Spain’

Overseas property owners who cannot afford a residence in Spain could find Turkey a good alternative, according to a newspaper.

The Daily Mail said the European country offers a number of attractions, including good weather and a pleasant rural environment.

However, the publication added that it could be prove to a better value destination than many comparable Mediterranean nations.

This is because the pound recently fell to a record low against the strong euro, thereby making places such as Spain and Italy relatively expensive.

By contrast, Turkey is not in the eurozone and offers much more favourable exchange rates with the UK.

The Daily Mail commented: "Turkey is a genuine alternative to Spain – you get more for your pound than you do with the euro."

This comes after Business Week stated that property in Turkey is also much cheaper than those in other Mediterranean locations such as Spain or Italy.

 

Brazil to attract more foreign investors

Independent property analysts have predicted a surge of interest in the Brazilian market in the near future.

According to NuBricks.com, Standard and Poor’s has just upgraded the country’s credit rating to triple-B-minus.

This has prompted the website to suggest that this will lead to renewed interest in the South American nation among foreign investors.

Experts at the online portal believe that the current demand for residential property in Brazil will continue to increase.

However, this latest development means that property firms will now be able to reduce the sale price of many of their offerings.

Therefore, investors could be able to enter a fast-growing market at a much lower price.

NuBricks.com remarked: "With greater economic prosperity comes an improved property market and the potential for capital growth."

This comes after the website revealed that the Brazilian economy is likely to experience growth of about 4.8 per cent this year.

 

Egypt ‘offers strong investment potential’

Overseas property investors could benefit from continued growth in the Egyptian property market, an expert has stated.

According to Paul Collins of BuyAssociation, the north African country is very popular with buyers in western European countries such as France, Italy and the UK.

However, he revealed that it is also becoming an increasingly attractive market for investors based in Russia.

This has led to him predicting that demand for property in Egypt will remain high even if ongoing economic problems restrict purchasing activity in countries such as Britain.

As a result, he believes house prices will continue to grow, making it a "strong investment proposition".

Mr Collins commented: "Even if things are worse than expected in the UK, it’s got interest in Russia backing it up."

He added that its tourist market is likely to experience growth in the next few months, as low-cost airline easyJet has just introduced new routes to the country.

This comes after research by Cheapflights.co.uk showed that consumer interest in the Egyptian resort of Sharm El Sheikh is currently 50 per cent higher than it was 12 months ago.

 

Southern Italy recommended to investors

Foreign property investors have been advised to consider potential opportunities in Italy.

The International Property Investment Network (IPIN) said the south of the country is becoming more and more popular with buyers from overseas.

Bernardo Retana, director of IPIN, highlighted property in Calabria as one of the main hotspots for foreign investors.

Commenting on the region, it said it offers attractions such as unspoiled surroundings, easy access and a growing tourist trade.

Therefore, it could be an ideal market for buy-to-let investors who wish to purchase a property in a rapidly expanding market.

Mr Retana observed: "Calabria will inevitably become one of the most popular locations over the next five to ten years."

He added that the enforcement of strict planning regulations along the coast means it is likely to remain an attractive location.

Limits on new building work have been designed to make sure the province retains its natural beauty.

According to the Telegraph, the recent surge of interest in Calabria has come in the wake of the introduction of cheap flights to the area by budget airline Ryanair.
 

Tourism boosts South African investments

Owners of rental accommodation in South Africa are benefiting from a strong tourism sector, it has been reported.

According to Homes Overseas magazine, visitor numbers in the country went up by about nine per cent last year.

This was said to have resulted in the holiday industry generating nearly £25 billion for the national economy.

As a result, many buy-to-let investors will have seen increases in their occupancy rates and rental yields.

Furthermore, this trend of upwards growth is expected to continue in the run up to the football World Cup, which is being staged in the country for the first time in 2010.

South Africa’s government recently revealed that it wants to attract ten million foreign visitors in two years time.

According to deputy tourism minister Rejoice Mabudafhasi, visitor numbers have gone up by 1,415 per cent in the last 14 years, reports AllAfrica.com.
 

Moroccan tourism boosts investment potential

Efforts to boost tourism in Morocco could potentially make it more appealing to property investors, analysts have suggested.

According to NuWireInvestor, the government wants to stimulate further economic growth by attracting more visitors to the north African country.

The website believes this could be a positive development for overseas property investors, as it could also lead to growth in the housing market.

NuWireInvestor commented: "Plans to create more jobs and increase tourism by 2010 are likely to boost Moroccan economy and the property market in the next two years."

This, it continued, means that Morocco could be a good location for overseas property investors to consider.

Prospective buyers were encouraged to buy a property in the country before the market "peaks".

This comes after the Foreign Property Buyer website said that the government’s plan to increase the number of visitors to Morocco over the next two years "bodes well" for its rental market.
 

Australia recommended to investors

Overseas property investors in the UK have been advised to consider purchasing a residence in Australia.

According to the Foreign Property Buyer website, there is currently very strong demand for housing in the antipodean nation.

This was partly attributed to the fact that Australia’s population is continuing to rise.

Specifically, the country was said to be very popular with migrant workers, in particular skilled professionals who want a good job and a high standard of living.

Foreign Property Buyer added this demand means that Australia is well-placed to weather the ongoing turbulence in the global economy.

As a result, it believes the country could be ideal for Britons who are seeking a secure investment overseas.

"Australian property looks like a fairly safe bet for many foreign property investors," the website commented.

Paul Arthur, director of The Emigration Group, recently told the Western Mail that the country is proving to be very popular with skilled professionals such as doctors and architects.

Speaking to the newspaper, he said Australia’s "booming" economy has made it an appealing destination for those who wish to progress in their career.
 

Cape Verde tipped to become international hub for trade

The Cape Verde islands could become a major hub for international trade and commerce, a leading diplomat has said.

Marianne Myles, the new US ambassador to the west African nation, stated that the country is situated along an important global shipping route.

In addition, she said the country has established a special relationship with the US, the European Union and has become a member of the World Trade Organisation.

Therefore, she believes it could become a "transatlantic bridge" for trade, investment and tourism.

Ms Myles commented: "Cape Verde is a success story in Africa."

"[The country] has made major improvements and achieved high levels of performance."

She added that Cape Verde has becoming an African "success story", as it is one of the oldest and strongest democracies in the continent.

According to the Organisation of Economic Cooperation and Development, Cape Verde’s economy grew by 6.6 per cent last year.

Figures cited by MacauHub show that it is expecting this rate of growth to increase to 7.6 per cent in 2008.

 

Tourists seek ‘exotic’ locations

Holidaymakers from the UK are increasingly choosing to venture to more exotic locations, analysts have stated.

The Association of British Travel Agents revealed that emerging economies and mid to long-haul destinations are becoming more and more popular.

Frances Tuke, spokesperson for the group, said this is partly because they are exotic, developing locations which can offer a different type of holiday experience.

In addition, she stated that authorities in these countries have invested in providing services and infrastructure for foreign leisure travellers.

This means these places could be good locations for overseas property investors to consider, as the increase in visitor numbers is driving growth in their rental markets.

Furthermore, new infrastructure developments and demand for property in major hotspots could potentially push up property values in prime locations.

This comes after Dubai Tourism and Commerce Marketing revealed that about seven million people booked accommodation in the region during 2007.

The organisation has predicted that in two years time, this number could possibly increase to ten million.
 

Britons seek employment overseas

The number of Britons who chose to emigrate abroad between 1997 and 2006 has been described as "probably the greatest period of emigration we’ve ever seen".

Jill Rutter, senior migration office at the Institute for Public Policy Research, told the Telegraph that this is partly due to the relatively new trend of retirees emigrating to countries.

However, she said it is also due to the "more internationalised labour market and workforce", which has made it easier for people to work abroad for a period.

A NatWest report on expatriates showed that of the 200,000 who left the country in 2006, two-thirds went to live abroad with four in ten of those professionals or managers.

The Conservative Party has claimed that the statistics reflect how many Britons are becoming disgruntled with high taxes and crime rates to the extent that many are leaving their home country.

The Office for National Statistics will release figures showing that 1.97 million Britons left the country in this period, a number thought to be comparable only with the exodus between 1911-14.