A US real estate columnist has put together a simple guide on how to snap up foreclosed homes in the current American “buyers market”.

Writing in the Wall Street Journal, June Fletcher said property investors looking for a foreclosed property would need ready access to cash or a good credit, plus a “taste for the hunt”.

Her tips include focusing on one particular neighbourhood, ideally one in which foreclosures are actually few and far between and the local area is desirable.

She also advises purchasers to research properties carefully and to find an agent with experience of foreclosed properties if a seller will not deal direct.

Ms Fletcher said:

“Foreclosure deals are often complex and time-consuming - you don’t want an agent who lacks diplomacy, patience and perseverance.”

On Tuesday the Boston Business Journal reported foreclosure rates in Massachusetts are continuing to climb, according to statistics from ForeclosuresMass.com. New residential foreclosures declined last month because of new regulations forcing a 90-day waiting period, the publication said.

But there were 4,157 filings in the area during the second quarter of 2008 – the single highest month on record according to the Journal.

UK property investors now aiming to rent rather than sell houses look set to enjoy higher rental incomes, according to a leading consultancy firm. Knight Frank said demand in the letting market is increasing by as much as 30 per cent on a year-on-year basis. Rents grew by as much as 16 per cent in central London alone during 2007.

The firm also said there had been a “noticeable change in sentiment”, with renting no longer seen as a short-term option. House hunters are now more likely to see renting as a more flexible option offering better value than buying, the company added.

Knight Frank’s head of residential research Liam Bailey said:

“With rents rising and property values falling, it will soon begin to make more sense to own property purely for the rental income.

“This will, in due course, attract more professional property investors into the UK rental market.”

He added buy-to-let investors prepared to “stay the course” would see dividends from the market in time. He also said Knight Frank’s view is house prices will most likely see a peak-to-trough fall of around 20 per cent.

Work has begun on a vast double tower real estate development in Jordan after a groundbreaking ceremony attended by the country’s prime minister. Nader Al Dahabi was present as the first steps were taken towards the building of Sanaya Amman, a $300 million (£150 million) development in the capital Amman.

Built by Dubai-based firm Limitless, the residential towers will soar to more than 200m in height and are designed to form a new hub in the west of the city.

Quoted by UAE paper the National, Limitless regional director Bahaa Abouhatab said:

“It is a little cheaper to build here than in the UAE, probably because labour costs are lower.

“But because the amount of construction is growing in Jordan, we’re trying to make sure we build within the current market prices so that we produce a product that people can afford.”

According to the paper, he also said political stability in Jordan combined with an improving economy meant the area was an attractive market. The 60-storey project will also feature the world’s highest suspended swimming pool 125 metres above ground.

Due for completion in 2011, the development will also include private terraces, express elevators and floor-to-ceiling windows.