In the light of recent events people are required to make prudent investments. The property market in your own country can be saturated, and not really worth investing in at the moment, there'll be no significant profit. However it is smart to invest in markets that are experiencing continued growth.
Here are five locations you should look to invest in:
1. Spain and the Canary Islands
The global financial crisis of 2007/08 hit many countries hard. Some were able to bounce back immediately, but that wasn’t the case for Spain. For seven years after that, the decline of the housing market fell steadily every year and it seemed unstoppable.
Well, it was stopped. It has been enjoying a renaissance since 2015 and the market has grown considerably. This is especially true around the urban areas and the larger cities. Barcelona and Madrid saw a growth of 4.6 percent, but it is the Canary Islands and Balearic which saw a massive 11.3 percent growth for the year 2019. Contact estate agents Tenerife Sun Properties on Tenerife, Canary Islands, they have a wealth of knowledge on buying properties in the Canaries.
For anyone familiar with the financial markets or economics data, you'll remember Greece's position in the EU was seriously jeopardized. This is a country that suffered a catastrophic economic and financial meltdown, to the point they couldn’t pay their debts.
Well, that was their rock bottom, and the only way for them to go was up. That’s exactly what they have been doing over the last decade. Recovery has been slow and steady, to the point where some of the best investment banks predicted continued growth into the future.
Here is an economy that closely followed the collapse of the Greek economy. Though it may not have been to the extent of Greece, the housing market did face a decline for a few years, with prices getting depressed and growth seeming like a distant dream.
That has all changed recently though. Cyprus is slowly becoming the center through which companies can operate in three different continents and have ease of reach. As companies start moving into Cyprus, positioning yourself there early could be your chance to rip big.
Egypt has always been a leader in the Middle East and in Africa. As a desert country, the quantity of inhabited land is quite low, standing at 7.7 percent. However, the government has been pushing for this to grow to 12 percent, almost double, to meet the demands of the exploding population.
This has meant massive investments and favorable policies to encourage investors and high net worth individuals to come in and take advantage of the environment.
5. The UAE
For quite some time now, the lands that make up Dubai, Abu Dhabi and other cities have been associated with the who’s who of industry, as well as the jet set and other high net worth individuals. The property market, though pricey offered great returns to investors.
After a few years of experiencing a slump, the massive growth rates that the UAE experienced have returned. The time to take advantage is now.