Investors set to opt for emerging markets
Emerging markets look set to attract many overseas property buyers this year, experts have predicted.
According to Foreign Property Buyer, less established locations are widely believed to be more lucrative than their more traditional rivals.
This has prompted the website to suggest that they could attract as much as £300 billion of investment from overseas this year.
However, it said the overall rate of growth in these markets could be down on the previous year.
This is because many prospective buyers have been affected by the ongoing problems in the global economy, which means demand for property in some countries may not be as high.
Foreign Property Buyer commented: "American and European consumer have been hit hard by the credit crunch with some stretched financially by significant amounts."
According to Exchange Bond, British and Irish residents now own up to 3.81 million foreign properties.
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