Confidence tipped as central to property market

An improvement in confidence is being seen in the world property market and this is vital for it to recover, the editor of a property magazine has said.

Paul Collins of BuyAssociation said there are some signs of such sentiment emerging among UK investors and added this "hopefully will lead to more Brits feeling confident enough to buy overseas again and get back on the overseas property market."

Stimulus packages being put in place by various governments around the world have helped to bring about some of the recovery noted in the recent Knight Frank global house prices survey for the second quarter of 2009, he suggested.

One country that may interest buyers is Cape Verde, which property firm Assetz said has one of the largest undersupplies of property in the world as its tourism sector booms.

The company suggested that those investing there could make substantial medium to long-term gains.

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