Investment Property Watch - October

Released on: November 17, 2008, 11:25 am

Press Release Author: Jon Moore / TheMoveChannel.com

Industry: Real Estate

Press Release Summary: Forcing Portugal off the top spot this month was the United Arab Emirates, which nabbed the top spot in TheMoveChannel’s investment property watch for October. However, Portugal did fight back to some extent, grabbing both second and third places

Press Release Body: Forcing Portugal off the top spot this month was the United Arab Emirates, which nabbed the top spot in TheMoveChannel’s investment property watch for October. However, Portugal did fight back to some extent, grabbing both second and third places…

UAE properties climbed from fourth place last month to take the gold in our investment property watch chart. Don't assume it was Dubai. It was in fact Ajman, the smallest of the seven emirates.

Close to Dubai for job possibilities yet far enough away for peace and quiet, property in Ajman is becoming increasingly sought after by locals and foreign 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.

Dan Johnson, Director of TheMoveChannel, said, “Ajman is the smallest emirate by size, but it certainly has big aspirations and was the first to offer investors of any nationality full and transparent freehold property ownership.

“Close to the Dubai airport and well connected via the Emirates road (traffic permitting), it has a wonderful old 16th century fort in the central square which is a must see, as well as an old Iranian souk, giving the city an authentic flavor,” added Mr Johnson.

The Algarve 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.

Expats and investors from the UK are continuing to snap up property in Portugal, especially along coastline, despite being more expensive than some European destinations.

The Algarve’s popularity with holidaymakers means that foreign property owners have also been able to make money by letting their residence out to visitors. The Silver Coast has also become popular in recent years.

At number four on our investment property watch chart was property in Ajman Costa Rica, which is fast becoming the next property hot spot with international property investors eagerly anticipating a big boom in the country.

Costa Rica’s popularity has been growing for numerous reasons. With the slow down in the US economy, many US investors are looking abroad for safer markets with bigger potential profits.

The climate and beautiful natural scenery which includes everything from rainforests to volcanoes to beaches ensures that tourism in Costa Rica looks set to remain a prosperous industry for the foreseeable future which drives up demand for property.

Costa Rica is considered by many to be the strongest democracy in Central America with an independent judiciary ensuring the rights of investors. Unlike many other countries, Costa Rica also allows 100 per cent foreign ownership making it easy for US citizens buying investment property in Costa Rica.

Old favourite Italy made two appearances on the top ten table, at fifth and ninth place. An Italian property in the southern Italian village of Irsina took fifth place, proving that the interest in the south of the country is still growing.

Traditionally, the north of Italy has been the most popular, and the less fashionable southern regions were overlooked. But now, savvy investors seeking a cheaper property are increasingly turning their attentions to the south.

-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

Web Site: http://uae.themovechannel.com

Contact Details: TheMoveChannel.com
45 Lafone Street
London
SE1 2LX
Tel: 020 7 952 7650
Email: j.moore@themnovechannel.com