Brazil, Thailand and USA property markets to grow in 2013
Investors should look to Brazil, Thailand and the USA in 2013, as the three countries will boast the fastest growing property markets according to real estate agent Crystal Investment and Real Estate.
Recession hit markets in Florida, Cleveland. Detroit and Atlanta in the US, and the emerging markets of Brazil and Pattaya, Thailand were singled out in a report by the real estate consultant as the most promising areas globally for rental returns and property price increases.
With regards to the US property market, the firm’s managing director Luke Smith said: “Due to the existing well developed and immense infrastructure in the US, which will help in the recovery of these areas, the distressed markets in these US states offer safe and tangible investments. Here it is a question of when and not if these markets will improve again.
He was equally positive about emerging markets in Brazil and Thailand, both of which have seen vast increases in tourist numbers and investment in recent years.
“Property prices in Brazil are still significantly cheaper than Western Europe and we believe the country will continue to offer great opportunities for investors for the next few years,” Smith said. “In Thailand the government is removing the red tape to enable foreign nationals to own property and invest in the east side for the first time.”
In addition, the Thai government has released plans for $72 billion of infrastructure projects over the next five years. The development work, which will include new roads and railways linking the country’s main hubs, is designed to increase tourism and further investment in the country.
Lee Chettoe, sales manager at Knight Knox International said: “The Thai condo market is booming at the moment. The increase in demand for property, particularly in the Jomtien Beach and Pattaya regions, has led to us taking on an additional six new projects this year alone, all of which have been extremely well received by our investors.”
“Over the past 12 months we have also noticed that investors are broadening their horizons and starting to look more further afield than the traditionally popular regions in Pattaya, towards the more tranquil area of Bang Saray; either looking to retire or for a more peaceful holiday destination,” Chettoe added.
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