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November Investment Property Watch- UAE home free
Posted by Catherine Deshayes on Friday, December 05, 2008
No trouble at the top this month - the United Arab Emirates held onto the top spot in TheMoveChannel.com's investment property watch for November, which charts the level of interest in certain properties and countries from visitors to the site. Not content with just the number one spot, it also took fifth and eight places...
It's the UAE at the top of the charts once again. Despite scaremongering in the press about prices having that much further to fall thanks to its massive property boom over the last few years, people remain interested in the emirates.
Dubai and Ajman (the latter is the smallest of the seven emirates) have generated the highest level of interest- Dubai for all the wrong reasons at present.
Despite its size, Ajman is tipped to become a future property hotspot. Close enough to Dubai to enjoy its amenities and job market yet quiet enough for a peaceful life, Ajman is appealing to a broad spectrum of investors.
Prices in Ajman have not gone though the roof like those in neighbouring Dubai, so property in the emirate is still relatively affordable. Plans are in the pipeline for a new international airport which will make access easier and push prices higher.
The Government of Ajman has strived to make it easier for foreign investors to buy into the emirate, offering a range of benefits to both individuals and companies who are interested in investing in Ajman.
Unless you have been hiding under a rock for the last few years, you will have heard about Dubai and its meteoric rise to property stardom. It has been one of the key markets for investment in property.
Whilst some planned developments are being put on hold due to the financial downturn, there are still cranes dotting the skyline in Dubai and investors are still interested, as shown by our November investment property watch.
Dan Johnson, Director of TheMoveChannel.com, said, "Three projects in the top ten for the UAE reflect the fact that buyers still seem eager to participate in Gulf property market.
"But while Dubai may be hogging the headlines for the wrong reasons, the nearby emirate of Ajman is currently attracting the lion's share of investor attention, thanks to a spate of new project launches at prices that are significantly lower than those available in Dubai.
"Although excluded from this report, the UK has also featured heavily in the last few months, as investors turn to discounted property in English cities such as Liverpool," added Mr Johnson.
As we edge closer to Christmas, Turkey is becoming ever more popular. It climbed four places from sixth place to take second place in November's Investment Property Watch.
Turkey's tourist numbers have been rising dramatically over recent years and have placed the country under an international spotlight. The value of Turkish property, especially in beach front areas, has skyrocketed, with some areas enjoying price growth of up to 50 per cent.
The area around Dalaman is particularly popular amongst investors as the Turkish Government has invested heavily, improving the tourism infrastructure in an attempt to make Dalaman one of the country's tourist hotspots.
The South-western 'Turquoise' coast of Turkey offers great value compared with traditional Spain and Portugal.
Whilst property prices in this area have remained low for a reason- poor access and a lack of mortgages for British buyer- both of these issues are being improved. There are new flights to this part of Turkey from the UK and a new mortgage law means that buyers now have long-life mortgages that will make borrowing easier and more affordable.
Paul Collins, Developments Director of Royal Resorts Turkey, which is behind the development in Ladies Beach in Turkey which took second place in our November investment property watch, said, "Turkey is one of the few countries that has not been affected by the current world economic crises. It has also seen an increase in tourism and is now officially the number one holiday destination for the British and Irish having taken over Spain.
"A low cost of living, a warm consistent climate and property prices that compare to Spain 20 years ago. The difference with property in Turkey is that laws are very strict so high rise buildings in the coastal tourist regions are mostly prohibited," he added.
A new entry to the table, Anguilla surprised us all by nabbing a respectable sixth place on November's list.
When it comes to Caribbean islands, Anguilla remains relatively undiscovered and thus its property is more affordable than on many of the other islands.
Although the island is aimed at high-end tourists with its five-star luxury hotels and gourmet hotels, Anguilla real estate is cheaper than you may think.
Anguilla is made up of a collection of small islands and cays and is part of the British West Indies, located east of Puerto Rico and enjoying tropical temperatures moderated by the northeast trade winds year-round.
There
are no overcrowded beaches here and no cruise boat tourists either, unlike
other Caribbean islands. The people in this
little island are warm and friendly and the crime rate is extremely low.
Unlike other Caribbean islands Anguilla real
estate does not have any mountains. The land is flat, and literally desert with
plenty of sunshine and few clouds.
People are increasingly investing in Anguilla real estate with a view to using it as vacation rentals. The returns from Anguilla real estate investments are very good and the prices very attractive.
If you do decide to invest in property on Anguilla, it is advisable to get the property title checked at the Lands and Surveys to ascertain who owns the land and equally important to ensure that there is road access to the property.
Hire a surveyor who knows the ins and outs of the law of the land and before you make any payments, ensure that you have gone through the Alien Land Holders License.
Your investment property could well net you an increase of between four and five per cent each year.
Other movers and shakers
Whilst Portugal took the top spot two months ago, in November it had to make do with third place. Old favourite Spain only managed to grab fifth in November's list, followed by the USA in seventh place - those foreign buyers are still taking advantage of rock bottom prices in the US's troubled market. France and Venezuela took ninth and tenth places respectively.
|
Rank |
Property |
Country |
Company |
|
1 |
Buy back offer |
UAE |
Best Investment Property Ltd |
|
2 |
Turkey |
Sky Blue Experiences |
|
|
3 |
Portugal |
Real World International |
|
|
4 |
UAE |
Dream Resorts Ltd |
|
|
5 |
Spain |
The Armarium Group Ltd |
|
|
6 |
Anguilla |
Focus International Property Ltd |
|
|
7 |
USA |
American Dream Investments Ltd |
|
|
8 |
UAE |
Nomorehotels Ltd |
|
|
9 |
France |
Value Property Services |
|
|
10 |
|
Venezuela |
TLC Overseas Property |
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