Mongolia tops list of property investment hotspots for 2014

Photo: July in Ireland

The annual forecast from Property Frontiers notes the importance of 2014 to Brazil, with its economic growth and tourist appeal boosted by the FIFA World Cup and upcoming Olympics, but reserved its number one spot foR Mongolia.

The investment specialists highlights the country as ripe for investment thanks to its fast-growing economy and a revision of laws in 2013 designed to make it more attractive to foreign investors.

The driving factor behind Mongolia’s appeal is its mineral reserves, worth an estimated $1.5 trillion, which have sparked a work and population boom not unlike that boosting North Dakota’s property market.

“The wealth generated by the mining industry has flowed rapidly through the country,” says Property Frontiers, “with the result that demand for high end accommodation and western-style luxury shopping and leisure facilities has  increased at an incredible pace. This will be an exciting country to watch as developers try to keep up with the Mongolian population’s demands.”

Grenada is also highlighted as one-to-watch. Indeed, the World Travel and Tourism Council has flagged Grenada as likely to be the fastest growing Caribbean market in the decade to 2021.

“Tax exemptions and citizenship schemes have made investing in Grenada an extremely interesting prospect and 2014 is predicted to be a bumper year for the ‘spice island’ in terms of attracting foreign investment,” adds Property Frontiers.

On more familiar soil, areas surrounding London in the UK are also recommended for buyers looking for strong returns, as a number of new transportation links make fast access into the capital possible from places such as Reading and Gravesend. As commuting conditions improve, these areas are likely to see dramatically increasing house prices during 2014.

Property Frontiers also singles out Africa’s property markets, which are under strain from increased wealth, urbanisation and the immigration of foreign executives, creating high yield rental prospects.

“At the same time,” adds the report, “a number of ethical, alternative agricultural investment structures are emerging, in support of the growing population.”

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