CARIBBEAN
The Caribbean has many resort type developments coming into the market which remains the playground of the mobile wealthy set although prices are more reachable - think St Lucia. Mexico, Costa Rica, Belize, and Panama which benefit enormously from the US retiree club - we see no slowdown on this movement to warmer climbs with lower food and lower general living costs. Dominican Republic also has some famous names popping up with Golf and Marina style resorts at very affordable entry levels.
What about the prospects for Turkey?
Turkey - The Golden years of real estate are coming back to Turkey
The last preparation year was 2002 when a new law came out, and foreign nationals were allowed to purchase real estate in Turkey in their own name. Well be prepared. The year to get ready for the next big property boom is 2009. The next set of golden years for Turkey's real estate market will be in 2010, 2011, and 2012, according to an article posted here: MORE >>
Panama still brings returns!
A lot of talk about Panama’s real estate market being overbuilt, or a mature market without scope for expansion is hard to see based on a lot of information coming from news reports. Panama City has spectacular rental yields and everything suggests that the Panama boom still has time to run. Panama straddles the powerhouses to be of the South American giants and a North American market that will eventually dig itself back into positive territory. Latin and Central America are the big words everyone is talking about. Panama, Peru, Argentina, Uruguay, and Costa Rica.
EUROPE
Only a few choices for Europe with the main choice being Turkey!
Low prices, attractive country, good food. The negative is the political stalemate but Turkey seems to us the ‘best bet’ in Europe. Most other areas including the emerging markets from the break up of the Russian Federation are in our opinion still to be kept with a mindful eye on the political powers that exist in Russia.
USA
Buying property in the US as investments should also be done with a long term view and think back to the reason why it all started. Florida still has a huge tourism level and it will continue to be so. But purchase from known brands with quality stock. Re-sales and foreclosures could come with unknown problems as the market continues to down trend. Deals are there but you have to ask first. 2009 is not going to be a complete disaster for property markets and like all cycles the downward slides in the USA and parts of Europe will begin to bottom and by 2010 we see growth in the USA once again driven by tourism.
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