The temperature of property markets in the EU in 2012 has certainly plummeted. Austria was the only country to register anything like meaningful growth in 2012...
(PRWEB UK) 19 December 2012
Colordarcy highlight the recent Knight Frank Global House Price Index as evidence that the best opportunities for investors to profit from property are outside the EU.
The Eurozone’s 17 member states have seen prices fall by 1.8 per cent on average in the 12 months to September (Source: Knight Frank).
Loxley McKenzie, Managing Director of Colordarcy comments, “The temperature of property markets in the EU in 2012 has certainly plummeted. Austria was the only country to register anything like meaningful growth in 2012, yet growth, even in this country is beginning to slow down as it also succumbs to the layer of ice forming over most of Europe with the notable exception of Turkey”
Analysts at Colordarcy also highlight that apart from Croatia, the bottom 10 worst performing countries in the index are all from the EU.
McKenzie added, “the euphoria that came with many countries joining the EU in the last decade has almost certainly been replaced by the grim fact that no country has managed to gain any real long term benefit where the value of property is concerned.”
So where should an investor be looking for a mature market that offers anything like the growth which makes property investment worthwhile?
The good news is, that heading way out west to Miami, there is a boom that has never been seen before. Florida property is thawing out fast at the moment. The average rent of a 2-bed apartment in Miami increased by 6% in 2012 and the median sales price of condos rose 24.2% to $146,000 in the year to October (Source: Miami Association of Realtors).
A combination of population growth, where Miami has seen the biggest increase in the past decade at 2.1% and shortage of supply, as developers have taken time to gear up their operations, are two reasons for this boom.
Add in increased interest from foreign investors from Brazil, other Latin American countries and Canada and the outlook is far hotter in the Sunshine State in 2013 than it will be in the EU according to Colordarcy.
Colordarcy is a leading property investment company that specialises in finding positive cash flow investment properties worldwide. Colordarcy investment property portfolio includes some of the best properties for sale in Brazil, Florida, Turkey and the United Kingdom.
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