Brazil, Turkey and Malaysia are property hotspots
Tuesday, 29 March 2011 4:55 PM
With property investment destinations within the Eurozone continuing to be tainted by uncertainty over the single currency, locations outside the bloc are steadily establishing themselves as global 'property hot spots'.
The latest figures released by Knight Frank reveal that global house prices increased by 2.8 per cent over the course of 2010.
However, according to the head of the property website Homesgofast.com, Nick Marr, some destinations are hotter than others right now.
In particular, the expert pointed to the fact that Turkey has managed to avoid the uncertainty surrounding the euro, while the Canary Islands continue to attract sun-seekers.
Furthermore, Marr noted that Brazil is an "exciting prospect" right now, with the country offering excellent investment and exit opportunities.
"Prices are still low compared to Europe and with all the exciting things happening to the country – from Obama's visit to oil finds, the World Cup and the Olympics - it's proving irresistible," he explained.
During his official visit to the country, President Obama said he "enthusiastically" welcomed Brazil's rise as a global economic power.
Marr added, "Malaysia property prices have been increasing at a rapid rate in the past year and it's still not too late. Investors who would have gone to Thailand are still hesitant owing to political instability."
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