Hot Spots of Healthy World Real Estate Market
Britain’s real estate market may be like a parallel to the U.S. market, except theirs home prices have nose-dived at a rate in some cases by an astonishing 65%. This decline is much worse than the average decline in the markets on this side of the Atlantic.
A two-bedroom flat, bought for £215,000 in September 2005, recently sold at auction for £79,000; another went for £86,000. Nine others did not sell at all.
According to the New Statesman, a London newspaper established in 1913, buyers are being warned to stay away from the housing market,
As Britain wakes up to the nightmare of negative equity, we are facing a housing recession far worse than that of the early 1990s. Iain Macwhirter has a warning: don’t buy a house now, at any price. Just say no. You have been warned.
There are some real estate hot spots in this whole wide world, though. Baghdad’s housing market is booming, says Terry McCarthy of ABC News. As stability reaches the region, the strong desire for housing is at an all-time high. And Iraqis have the money to make it happen - in black gold.
Not only is there pent-up demand that is just waiting for enough security to begin major development, but there is also virtually no new construction going on, so supply of properties is limited. And with oil at $130 a barrel, compared to $50 a barrel last year, Iraq is not short of money.
Brazil is the number one spot to buy property right now because of quality workmanship and rapidly improving infrastructure. Morrocco and Canada are also hot spots, according to Uruguay Coastal Properties. They get their numbers from Property Showrooms, an online investment center for international real estate.
Photo from Rio de Janeiro Real Estate.
