Nabbing the top spot in TheMoveChannel’s investment property watch for September was Portugal, which has experienced the fiercest holiday home growth in Western Europe in the last few years…
The Algarve in Portugal has long been a tourist hotspot, with more than five million visitors from across the globe making the pilgrimage to the sun, sand and sea each year.
The Algarve still reigns supreme as the top British choice of destination in Portugal, but the Silver Coast has seen a rise in popularity in recent years, and places such as Alentejo and Costa Verde are now on the property buyer’s radar.
An apartment property in Portugal took the top spot in September’s investment property watch, grabbing the highest level of interest on the site.
Dan Johnson, Director of TheMoveChannel, said, “The project offered for sale on the Silver Coast that fared so well last month was a radical rethink of the normal approach developers take in that area.
“Already offering properties that were below comparable prices, the developer responded quickly to changing trends in demand to put together an attractive project, in a wonderful location, at prices that are much more likely to be found in an emerging market than in Portugal’s second most popular golf region.â€
Despite the ongoing problems in the USA property market, with the subprime crisis forcing house prices into a cul-de-sac, a property in Daytona Beach in Florida nabbed the second spot.
Florida is one of the states that has been most affected by the credit crunch, as it experienced one of the biggest boom so prices had that much further to fall.
As the American housing market remains so uncertain, cash rich international investors are flocking to Florida to snap up bargains. Many homes all over the country have been abandoned by struggling families unable to keep up mortgage payments.
In some cities, such as Detroit, you can pick up a two bedroom home for an astonishing £800.
Dan Sawyer, Property Investment Consultant at Assetz, which is marketing the number two property, said, “The US property market is now showing signs of recovery and prices are set to stabilise over the next couple of years.
“With some of the lowest unemployment in America, Florida has a solid history of demand from US residents relocating to the state, including young workers, professionals, retirees and expats.
Commercial Proving Popular
Commercial property opportunities attracted a good deal of interest, with India a surprise entry at number three with a shopping mall in a suburb in New Delhi for sale.
Tipped as one of the world’s best emerging markets, Indian property offers fantastic growth potential over the coming years, providing a political and economically stable environment ripe for investment.
The United Arab Emirates made it into the top ten, at number four, with a buy back property.
Dubai does seem to be one of the ultimate lands of endless opportunities, with investors flocking to the emirate faster than you can say UAE.
More than 25,000 foreigners relocate and buy property in Dubai each year and the property market reflects that popularity.
To keep track of TheMoveChannel.com’s hottest property investments throughout the month, please visit the Investment Property Portal on our website. Check out our new commercial properties for sale at our brand new commercial site http://commercial.themovechannel.com/
-ENDS-
Notes to editors:
TheMoveChannel.com is a property website that was founded in 1999 as an online resource for buying, selling and learning about property. It now receives as many as 300,000 visits per month and advertises over 50,000 properties in nearly 90 countries, which are listed by over 500 partner organisations.
For further information as well as images and interview possibilities, please contact:
Dan Johnson
Managing Director
www.themovechannel.com
0207 952 7650
