Thursday, 9 August 2012
Escape The Euro Crisis In These High Growth Property Markets
fig 1. mount Ararat, Turkey
The Euro is on the brink of breaking as political leaders in Greece have announced that their country is heading towards its own Great Depression with Spain and now Italy slowly heading the same way. However,
as Roman philosopher Seneca once said “It’s not because things are difficult that we dare not venture, it’s because we dare not venture that they are difficult.”
if you were interested in buying property in Europe, perhaps Spain or Italy, but are worried at where the pending economic crisis may leave you, then fear not as there is a country in Europe that may be able to help jump start your property portfolio.
Turkey has been one of the top spots on investors’ property lists for the past two years with its rapid GDP growth of 3.2% in the first quarter of 2012 underpinning strong rises in the value of Istanbul property.
As a result of the new reciprocity law that has been passed to allow citizens from the majority of countries to invest in Turkish property, there is now a steady influx of investors from Gulf nations in particular, who were previously unable to invest directly.
As many Turkish real estate advisors will tell you, “If you really want to make money from investing in Istanbul property you will need to move early to get the best prices. We are seeing a lot of interest from investors we haven’t seen before as a result of the new law being approved.”
Property prices in Turkey are already on the up and are rising by around 10% every year, which would mean, if this trend continues, that property in Turkey could have risen by so much as 50%!! This is making Istanbul a great place add to a property portfolio or even to build.
The property market in Florida is another hot market that is attracting some attention this year with investors hoping to catch the bounce.
Fig 2. Crandon Park, Florida
If you are keen to invest but you want to steer clear of the Eurozone crisis, Florida is a market where you can enjoy strong rental yields and prices that are showing the first clear signs that they are on the up.
You can pick up a townhouse from as little as £45,000 and with the price of Miami property 50% below its peak it is a solid investment!
If you are tempted by the prospect of taking advantage of the property market in Turkey or in Florida and are looking into investing in property in either of these places, or anywhere else for that matter visit Conti Overseas Mortgages at www.mortgagesoverseas.com
OR if you are looking for a home in the UK and need conveyancing? visit us at www.helpfulconveyancing.co.uk for all your conveyancing solutions!!