Overseas Property World

The European sovereign debt crisis will be in the history books as one of the biggest financial events of a generation. Sure, it will be remembered as a consequence of the wider international crisis, but what a cracking side-story it will make. Especially if it leads to one or more countries leaving the euro, or even the European Union, not to mention the potential for a complete collapse of the single European currency.

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The world’s safest property markets, which by no coincidence are also the world’s most expensive markets, have become extremely popular at this time of financial instability.

The rapid devaluation of cash first triggered by instability in the foreign exchange markets, and then by that and roaring inflation caused by money printing in the US and UK, has led to the world’s wealthy individuals and investors seeking to put their cash into something safer than, well, cash. This first kicked off a rush on buying gold, but then, as the price of gold soared higher and higher people began looking to property.

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Cape Verde property is currently having a second-coming as it emerges as one of the world’s investment safe-havens.

The world is still reeling from the effects of the financial crisis, one of which was to completely collapse sales of Cape Verde property to foreign buyers. The Tortuga Beach and Spa resort launched to off plan buyers in 2007 but it might as well have not bothered. When thousands of people lost their shirts on Dubai property, everyone became extra cautious about off plan property, very few would risk it, and with very few buyers overall this meant no one.

But now Cape Verde is experiencing what can only be called a surge, or at least a flurry of overseas demand, with most of the buyers coming from Britain and snapping up off plan properties. What’s changed?

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On the 18th December 2010 I wrote an article titled: Top 10 Property Investment Destinations in 2011. Turkey was in the number one slot. What I said about Turkey then still holds true today, it has a rapidly growing economy (now the fastest in the world), a stable economy and political system, a strong a stable banking system, a rapidly growing population, and a rapidly growing mortgage market. But was I right?

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What a dramatic title? I couldn’t resist, because while even I hope it isn’t true, and am far from being a believer in the doomsday scenarios being floated, right now Turkey is the investment centre of Europe, and one of the best emerging markets to invest in property in the world.

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