By Shane McGinley
Property experts unveil this year’s best and worst overseas investment markets
The world's housing downturn is gathering momentum, according to the latest world-wide survey of house price indices prepared by the Global Property Guide.
During 2011, house prices fell in 22 countries, of the 35 countries for which Q4 house price statistics are available, and rose in only 13 countries.
Similarly, 21 housing markets performed worse during 2011 than last year, while only 14 countries performed better.
So where should Gulf investors place their money in 2012 as they look for a safe haven to invest their profits?
IP Global, a global property investment company with offices in Dubai, has invested nearly a billion dollars of clients money in property markets around the world since 2005 and has compiled a list of the three best places to invest, three cities to watch and three to avoid.
I looked at this in the hope that just for once, someone would have something intelligent and original to impart.
Buy London and New York; avoid Greece is the story. Fascinating innovative insight!
One question; do these companies pay AB to write them up or is there genuine belief there is something important to say here?
We had the misfortune to 'invest' with this same company, IP Global, in KL in 2007. We bought a flat in one of the projects advertised in KL, via their usual highly speculative nonsense 'advising' seminars.
The salesmen in IP Global pick up their sales pitches off the google and the internet, and the quality is so poor, as Stephen says in the previous post. Their sales commission is 3,5% while the agency fee one is to expect to be charged for properties in KL is typically 1,5%. Our flat bought with IP Global decreased 50% in income from what the salesman gave us as estimate to make us buy the property.
It is untrue that they are a global company, they blow their own trumpeth on the internet with PR to believe they are a credible company - Buyers Beware!
I agree we had the same experience in Malaysia KL with IP Global. They overinflated the expected rental returns and we couldn't rent our apartment for 1 year. Now we are trying to sell and no one else can, prices are down 30+ %. When you read their site IP Global say capital growth in KL is good. Steer clear of these guys.