London, UK, 12th February 2008 -- The overseas property portal
Homesgofast.com gave an early indication into the investment intentions of
thousands of UK overseas property investors for 2008. The portal announced
its 5 top overseas investment locations from over 170,000 visitors in
January 2008. The top regions that enticed investors at the start of the
year were, Dubai, Brazil, Egypt, US and Turkey. Interestingly the
overwhelming majority of investor’s enquiries were for property priced under
£60,000.
The UK overseas property industry has been bracing itself for a bumpy 2008
as the ripples of the credit crunch take effect. One of the biggest concerns
is the difficulty for property developers in raising finance for new
projects.
Mathew Lanham Technical director at Homesgofast " In January alone enquiries
for lower priced investment properties has risen by 30%, and its clear from
our statistics that this number is likely to rise in the coming months."
CEO of Homesgofast.com Nicholas Marr “Cheaper overseas property investments
appear to be en vogue, the majority of our top 5 investment property regions
offer very low property prices. Many investors are prepared to buy
investment property in places like Egypt without requiring finance.
.
Listed first place for investor interest in January 2008 was Dubai, this was
despite the region witnessing a slow down of investment as new rules for
developers took effect. Homesgofast Dubai based Chief Sales Executive Hind
Jouini “Despite the recent slow down by developers in launching new projects
we are experiencing strong demand from the UK. The majority of our clients
in January are from the British Asian community seeking to invest in Dubai
Brazil listed second in investor interest and offers property starting at
£20,000. Steve Mitchell of overseas investment company Investinpro “"Brazil
currently offers very competitive property prices with solid appreciation.
The rental market is easy to understand with the worlds most beautiful
beaches and colourful culture boosted by the fact that travel to Brazil is
now more than affordable"
In third place was property in Egypt attracting investment. Laurie Hain of
real estate company Off Plan Planet “Egypt is witnessing incredible amounts
of interest from UK buyers. Massive investment, direct flights, favourable
tax laws, strong capital appreciation, long rental seasons and incredible
ocean front locations all make for an ideal investment.
The US regions of Western New York and Florida have caught the attention of
UK investors and came in fourth place. David Brennan of Brennan Properties
“' many clients are flocking to invest in Western New York as the prices are
low, the yields are the highest in the world at the moment, the net returns
are tremendous, and this trend is set to continue despite the credit crunch
which has affected the more affluent states in the USA”
Florida bargains are in abundance in the sunshine state, one example is
where the portal promoted a no reserve auction of 27 brand new homes in
Naples Florida.
In fifth place were property investments in Turkey Julian Walker of Turkish
property specialists Spot Blue “"Turkey is a strong growing economy and is a
popular place to visit; it offers good rental potential with demand which
comes from tourists and from the local population. Belek is a great area for
Golf and is easily accessible which a key element is for overseas property
investors”
