With the ongoing euro crisis continuing to engulf Europe and the fiscal cliff still looming over the horizon in the US, investing overseas is still a precarious and unknown science.
A new report by Dubai-based overseas investment firm IP Global has issued its latest property barometer, which ranks cities and areas in terms of whether they are considered ‘bright’, ‘fair’ or ‘cloudy’ in terms of return on investment for Middle Eastern property investors.
“2012 has been an interesting time for investors. London and New York of course remain the indisputable superstars when it comes to property investment, but many other cities are offering strong potential,” said Paul Preston, regional director of IP Global.
“Malaysia is high on the Middle Eastern investors’ radar and Istanbul’s desirability at the moment is undeniable. In fact, Istanbul is likely to join London and New York as a permanent favourite thanks to the new laws making it easier for international buyers to purchase property in Turkey. In the US, Boston is one to watch, and provides some interesting figures and growth potential.”