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November Top of the Props - UAE trumps USA

Posted by Catherine Deshayes on Monday, December 08, 2008

The United Arab Emirates took the top spot from under the USA's nose in our November Top of the Props chart, proving that visitors to TheMoveChannel.com are still looking at the emirates, despite the spate of bad press Dubai has endured of late...

Our Top of the Props chart provides a monthly pop chart snapshot of the most popular countries on the site and last month, the UAE generated the highest amount of searches. The country climbed three places to nab the top spot.

Whilst the American property market is still looking far from healthy and whilst it did drop down one place, it still managed to take the silver, sneaking into second place on November's chart.

Emirates still flying high

Yet again, we are writing about the UAE and its meteoric rise into the top of the property charts following its massive property boom over the last few years.

Whilst Dubai has been grabbing attention lately for all the wrong reasons, the emirates remain a place in which people are interested and in which people want to invest.

The smallest emirate, Ajman, is becoming an increasingly popular option with investors hoping to cash in on the proximity to Dubai and property prices that are still relatively low compared to better known emirates.

Dan Johnson, Director of TheMoveChannel.com, said, "That the UAE has hit the top spot for the first time is no great surprise, given the spate of recent successful project launches we have participated in for developments in Dubai, Ajman and Abu Dhabi.

"It is also worth noting that there is a strong British Asian contingent in our user-base, who may for cultural reasons be less distracted by the Christmas season than other demographic groups and for whom the UAE represents one of the most popular buying destinations," Mr Johnson added.

USA today- America slips into second place

One type of buyer is still flocking to America - foreigners. Whilst domestic buyers have been scared off by the repossession rates and boarded up homes in many cities across the country, foreign buyers are taking a longer term view.

Rather than viewing the price falls as a negative thing, they are instead viewing them as an opportunity to snap up a real bargain that will net them a profit when the market improves again, which, in the cycle of boom and bust, it inevitably will.  

These investors are especially keen on popular tourist locations within the US, as they know that the rental potential on their investment property in those areas will be strong.

America welcomes more than 40 million tourists each year, which cannot fail to fuel a healthy rental market.

Traditional favourite Spain moved up three places to claim bronze.

Surprise, surprise

November's Top of the Props chart revealed that Portugal has dropped five places to take seventh place, whilst Cyprus made its first appearance in the top ten, scraping in at number ten. The country climbed seven places from obscurity to take its place in the lineup.

Cyprus is one of the fastest growing property markets in Europe, owing to very competitive prices. The market in the south is growing at a steady rate, offering a secure investment for buyers.

Northern Cyprus property prices are much lower compared with anywhere else in the Mediterranean. Currently, there is a property boom in this part of the island, particularly round the Kyrenia region. Not only is the property in Northern Cyprus good value for your money, it is also a realistic investment opportunity.

Plans are afoot to increase tourism on the entire island and the infrastructure is being improved and updated.

Ercan International Airport in Northern Cyprus is to be opened to international flights and a marina and many new developments are all planned for completion in 2010. All of this will increase the rental potential of your holiday home or investment property.

Other movers and shakers

Brazil climbed four places to take fourth place, whilst France was a non-mover and remained in fifth place, the same position as it occupied in October's chart.

In sixth place was Turkey, whilst Germany and Italy took eighth and ninth places respectively.

Picture by flickr

Top of the Props chart for November

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Overall Enquiry Volume for November 2008
Rank	Country		Change	Comment
1	UAE		Up 3	1 month in top spot
2	USA		Down 1
3	Spain		Up 3
4	Brazil		Up 4
5	France		Non-mover
6	Turkey		Up 4
7	Portugal		Down 5
8	Germany		Up 1
9	Italy		Down 6
10	Cyprus		Up 7	New to top 10!
11	Canada		Up 9
12	Thailand		Up 3
13	Anguilla			Highest New Entry
14	Bulgaria		Down 3
15	Egypt		Down 3
16	Venezuela			New Entry
17	Czech Republic		Up 18
18	New Zealand		Down 2
19	Panama		Up 24	Highest climber
20	Costa Rica		Down 6
21	Barbados			New Entry
22	Romania		Up 7
23	Sweden		Non-mover
24	Malaysia		Non-mover
25	India		Down 18	Biggest faller
26	Dominican Republic		Down 5
27	Greece		Down 14
28	Philippines		Up 17
29	Argentina		Down 7
30	Morocco		Down 5
31	South Africa		Down 12
32	Slovenia			New Entry
33	Gibraltar		Up 4
34	Tunisia		Down 16
35	Montenegro		Down 4
36	Hungary		Down 10
37	Albania		Down 9
38	Slovakia		Up 4
39	Bahamas		Up 2
40	Ireland		Up 8

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