African countries offer strong returns

Article Date : Friday, March 07, 2008

Prospective investors in overseas property have been told that African countries could be highly lucrative.

Writing in the Times, Paula Hawkins recommended that people who want to collect strong returns on their investment should look outside Europe.

She said the rates of house price inflation in countries such as Cape Verde and Morocco are relatively high when compared with many short-haul locations.

Therefore, a property in the country is able to appreciate in value in a much shorter space of time.

This has proved to be tempting to many investors in recent years, as it means they can possibly sell their property on at a profit at some point in the future.

Ms Hawkins said this was a much better option for buyers of investment property than traditional markets in western Europe, such as France or Spain.

She remarked: "Investors tend to opt for popular holiday destinations rather than countries which offer the greatest opportunities for capital growth."

Earlier this week, the Association of International Property Professionals revealed that the number of overseas property transactions went up by 21 per cent to 240,000 last year.

Tags:

Association of International Property Professionals, Cape Verde, Europe, France, Morocco, Spain, The Times, Western Europe

African countries offer strong returns

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