Emerging property markets 'create their own wealth'
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Despite the global economic downturn affecting many established property markets, Property Frontiers has reminded investors that housing in emerging economies is likely to weather the storm because these countries are capable of "creating their own wealth".
Emma Holifield, PR and marketing executive at the property company, said that emerging economies are able to enhance their own wealth through a store of natural recourses, especially since commodities such as oil are currently hitting record prices.
"It should be remembered that emerging markets are not totally dependent on foreign direct investment and are quite capable of creating their own wealth either from manufacturing or natural recourses," remarked Ms Holifield.
Venezuela has recently benefited from rising oil prices, which reached $135 (£68) a barrel yesterday (May 22nd).
The government makes about half its revenue from oil exports, according to the Washington Post.
Ms Holifield also noted that emerging property markets are currently "significantly more appealing" to investors because they have not been affected by the credit crunch to the same extent as more traditional markets.
"Whilst investors may be finding current market conditions temporarily less favourable than they have been, this in itself does not make investing in emerging markets less of an attractive proposition.
"An example of this can be seen regarding Venezuelan tourism. Like many emerging markets, this is not affected to the same degree as other areas by the current economic situation.
"Tourist destinations such as Isla Margarita are sure to benefit from the increasing affluence, making resorts such as those found on Caracola beach an ideal investment opportunity," Matt Legg, Emerging Earth
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