Emerging property markets 'appealing'
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Investors are finding emerging property markets much more appealing as traditional foreign markets have been significantly affected by the global financial downturn, Property Frontiers has said.
Emma Holifield, PR and marketing executive at the company, said that up-and-coming markets are now more attractive to investors because they can still find good investment opportunities there.
She added that investors "should be aware that strong opportunities are still rife, and significantly more appealing than those in established markets, [which are] more prone to the squeeze because of rising lending costs and a lack of new mortgage options".
Last week, Conor Johnson, chief executive officer of the Irish offices of Right Move, told the Irish Independent that the Venezuelan island of Margarita is currently an attractive place to buy property because of the low prices compared to other Caribbean destinations.
Property company Right Move said that property on Isla Margarita is expected to "jump in value" over the next few years.
"The Caribbean in itself provides a unique market. The islands present an opportunity for both established liftestyle markets, as well as emerging investment markets. Isla Margarita is certainly well placed in the investment category due to its appealing price levels. However, with newer, high-end resorts such as Caracola, it will not be long before Isla Margarita itself offers the attractions more usually associated with the more established markets," Matt Legg, Emerging Earth.
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