Great Locations for Property Investment
Best places to invest in real estate, asset real estate investment, find investment property
Buying real estate is a widely appreciated way to invest, but how do
you decide where exactly to invest in property? At the moment, the U.S.
economy is characterized by climbing rates of interest and instability
of the equity market. So it is a good idea for one to consider options
at a global level.
There are dozes of countries where buying property is likely to be a
good investment. Let us look at real estate investment in four other countries
as compared to the United States. We will examine the housing costs in
Northern Cyprus, the United Arab Emirates, China and the Dominican Republic,
in addition to the facts about two places in the U.S. We will see why
investment abroad makes more financial sense than domestic investment.
How much would a condo or a house cost in thee places?
Please note that the currency figures and all facts are with reference
to 2007.
The United States
In the United States, a condo in Chicago, Illinois, of a size between
100 and 1500 square feet would cost between $300,000 and $350,000. In
Raleigh, North Carolina, to take another example, a house of a size between
2500 and 3500 square feet would cost between$450,000 and $650,000.
Northern Cyprus
On the international front, let us begin with Northern Cyprus, where
the GDP growth rate is 10.6% and the currency value is 1 U.S. dollar (USD)
= 1.48750 Turkey new lira (TRY). In the past, there was a lack of stability
in the country, with the Turkish Cypriots and the Greek Cypriots battling
for power. This made the economy a low performance one, but things have
changed in recent times. From sometime in 2003, there has been a good
deal of progress, and growth and development of the economy here has been
quite remarkable. What is of interest to us is that the prices for permanent
accommodation are on the increase, fairly rapidly.
In Northern Cyprus, the cost of an apartment or condo varies between
$80,000 and $120,000. For larger dwellings, such as villas and houses,
where there are additional amenities like swimming pools, the cost varies
between $200,000 and $350,000.
With its prime location in the midst of the stunning blue waters of the
Mediterranean Sea, its fascinating customs and interesting past, there
is no denying the attractions of Northern Cyprus. This region has been
influenced by the cultures of Europe, Africa and Asia, and this confluence
of cultures makes it absolutely captivating.
It is particularly lovely as far as the scenery goes, too. And when it
comes to investment, you will find that the cost of property here can
be very reasonable, less than what you would find in Southern Cyprus and
in other places nearby.
Tourism is a major activity here. Another big advantage of visiting or
living in Northern Cyprus is that the crime rate is attractively low.
Dubai, U.A.E
Let us now take a look at the property investment scenario in the United
Arab Emirates (U.A.E.), with particular reference to Dubai. U.A.E.’s GDP
growth rate is 6.7%, and the currency value is 1 U.S. dollar (USD) = 3.67305
AED or Arab Emirates Dirhams.
In Dubai, there is a healthy growth in both the luxury hospitality and
tourism industries. Investing in property here is becoming quite common
and many people are enjoying the benefits of doing so. This city, capital
of the Emirate of Dubai, is a multi-ethnic place – people from every nation
in the world live here. This is a city that is growing at a rapid pace.
Today, Dubai is a centre of business with scores global organizations
headquartered here. The incidence of crime is not very high in Dubai,
and the place is a tax haven, too, with a high standard of living. All
these reasons make Dubai a great location for property investment.
An apartment or a condo in Dubai costs between $275,000 and $350,000,
while a villa or a house costs between $500,000 and $600,000.
Shanghai, China
What is it like to invest in property in China? The GDP growth rate here
is 9.3%, and the currency value is 1 U.S. dollar (USD) = 7.968 yuan renimbi
(CNY).
An apartment or a condo in Shanghai costs between $250,000 and $350,000,
while a villa or a house costs between $650,000 and $800,000.
The country in general is developing fast, with a rapidly growing economy,
and Shanghai has become a financial and commercial hub, not only with
reference to China itself, but at a global level. More and more people
from different parts of the world are connecting with Shanghai as China
interacts with trade partners from other countries.
China, as well as Shanghai specifically, has grown rapidly richer over
the past few years, with the booming Chinese economy in full swing. So
investing in real estate in Shanghai is definitely a good idea.
This is despite the fact that Shanghai is a rich place, and property
prices are by no definition low. However, the cost of real estate is projected
to go up even higher and the cost of real estate in Shanghai, in relation
to places like Seoul, Hong Kong and Tokyo, is comparatively low.
However, you should bear in mind that in Asia, and in China itself, property
laws and property ownership regulations can vary quite a lot in different
places. You might find bureaucratic procedures tiresome too, but it is
still worth investing in Shanghai.
The Dominican Republic
The Dominican Republic is another good place to consider for international
real estate investment. The GDP growth rate in the Dominican Republic
is 6.5%, and the currency value is 1 U.S. dollar (USD) = 32.75 Dominican
Republic Pesos (DOP). An apartment or a condo in the Dominican Republic
costs between $70,000 and $90,000, while a villa or a house costs between
$150,000 and $225,000.
This is a popular place for affluent tourists, who love the stunning,
yet uncrowded beaches. Several of these visitors end up purchasing real
estate in the Dominican Republic. Spanish is the language of this beautiful
Caribbean country, but people talk and understand English as well. The
Dominican Republic has a stable economy, making it a good choice for real
estate investment.
Investing in international property is stimulating and profitable, and
you might want to plunge into investing in real estate abroad. But attractive
though all these options can seem, you must investigate thoroughly before
you invest, and make sure your choice is a wise one. Learn about the market
and understand laws before you go ahead with your international real estate
investment.
