EM property hotspots identified
Property portal provider Lamudi has published a list of residential property markets located in emerging market regions, which it says may offer superior returns when compared to key EU property hotspots such as London, Paris and Berlin.
The locations are identified on the basis of information available from some 800,000 property listings globally.
The locations are:
- Colombo, Sri Lanka
“Sri Lanka’s largest city and commercial capital is currently undergoing a dramatic transformation. Driven by Sri Lanka’s economic growth and infrastructure development, there has been greater urban migration towards Colombo, as well as a number of wealthy Sri Lankans moving back to the city following the end of the country’s civil war, leading to demand for both luxury and affordable housing,” Lamudi said.
- Cartagena, Colombia
“Colombia’s main platform for foreign trade, Cartagena’s ports, airport and close proximity to the Caribbean, Florida and Panama, position the city as a key investment spot. Renowned, international companies are putting down roots in Cartagena, taking advantage of Colombia’s 48 trade agreements and strategic location. Not only an industrial hub, Cartagena’s tourism industry is thriving, with world-class hotels investing in expansion in the city.”
- Irbid, Jordan
“Investment in Jordan is primarily concentrated in real estate, financial services and tourism. Jordan’s third largest city by population, Irbid, has a number of attributes that create attractive opportunities for real estate investors. Considered the cultural capital of Jordan, Irbid is home to a number of universities, including Yarmouk University, the Jordan University of Science and Technology, and a number of businesses related to these institutions. Furthermore, the city acts as an important transportation connection between Amman, Syria and Mafraq.”
- Naivasha, Kenya
“Located 90 kilometers northwest of Nairobi, Naivasha has attracted a number of developers into the region. Tourist attractions in and around Naivasha, such as the Lake Naivasha, Hell’s Gate, Aberdare Hills and Longonot National Park have led to the town’s development as a preferred getaway location, increasing demand for holiday homes in the area.With an environment conducive to both business and leisure, in addition to the availability of land, 2015 will see growth in residential, commercial and industrial real estate investment opportunities in Naivasha.”
- Faisalabad, Pakistan
“Pakistan’s third largest metropolis has experienced a recent growth in development and construction as a result of the rapid growth of Pakistan’s economy. The city has a large industrial sector, brimming with investment opportunities; Faisalabad’s reputation as a major textile hub makes it an attractive option for commercial property investors, looking to expand into or within Pakistan. With a strategic location at a road and railway junction, and an international airport 15 kilometers from the city, Faisalabad is easily accessible for domestic and international investors.”