Albania and Panama top investments
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Albania and Panama are the top two locations for long term property investment according to the latest research from international analysts.
UK based David Stanley Redfern puts Albania at the top of the investment list because of its determination to become a full member of the EU in 2014. This will give the emerging market access to EU funds to help develop economic competitiveness, infrastructure, and general prosperity.
In the run up to EU membership Albania is showing incredible potential for economic growth in its own right, as more and more businesses relocate there and more buy consumables from emerging market traders as part of the current massive global cost-cutting exercise, according to lead analyst Liam Bailey.
'Economic growth will generate increasing affluence within the population at large. House prices will be pushed up in line with what people can afford. This means that you can expect stable and sustained growth in Albania property prices until at least 2014, at which point, the stable democracy, and semi-established market of Albania will have a fair chance of seeing continued property price growth from then on,' he said.
Growth is also significant in Panama. Since the government announced plans to expand the Panama Canal in October 2006, Panama's economic growth has been around 11% year on year and property values have been growing at a recorded and sustained 25% per year over the same period, the DSR research found.
'Panama is currently growing into one of the world's main financial and banking centres, with good communications and first class world amenities. Panama's dollar based economy is sustained largely by the Colon Free Trade Zone (largest in the western hemisphere) and the Canal, as well as services from the operation of the two including flagship registry and canal tolls,' pointed out Bailey.
The Canal, the only waterway linking the Atlantic and Pacific oceans, is rapidly becoming too small for today's ships, and the expansion will not only double its capacity but quadruple revenues from its operation, which, combined with operation of the Free Trade Zone already accounts for a quarter of Panama's GDP.
'The canal expansion will add new impetus to Panama's economic growth, which is likely to remain strong between now and its completion, making Panama excellent for long-term property investment,' predicted Bailey.
'Another benefit is that Panama's property market is to America what the Costa's are to Brits. More Americans buy their retirement homes in Panama than any other country. This provides a massive market for the resale of Panama properties, to ensure that growth in property values can be cashed in,' he added.
