2008 Foreign Property Predictions

At this time of year, the predictions for the best foreign property buys for the coming year begin to roll in. So where are the experts suggesting we buy in 2008?

Martin Bowen, from Profile Europe (UK) says his top three favourites for 2008 are Dubai, Portugal and India.

Interest in property in Dubai has been increasing over the last few years and there are numerous new and luxury developments taking place. According to Martin, the property picture is looking incredibly rosy. ‘Investors into this market will see tremendous capital growth towards the end of this decade. They can rest assured that the rental market in a city – and one that expects upwards of 15 million tourists each year – will be one of the most profitable ever,” he says.

Portugal may be a surprise prediction to some people, as it’s a long established market and prices in some areas are relatively high. However, Martin believes that Portugal has “come into its own” and is on the “crest of a wave which will see regions increase dramatically over the next five years.”

As for India, where property prices are low, early indications suggest things could start to improve. “I predict the Indian property market will start to move forward in the New Year,” says Martin. “Infrastructure and a financial awareness is now the driving force and I anticipate that this market will grow significantly over the next 10 years.”

So these are the views of one expert, but where do you think the profits are to be made in 2008?