Gulf Opportunity Zone 'great for long-term investment'

The Gulf Opportunity Zone in the US is a place well suited to those property investors who are keen on buying for the long-term, it has been stated.

Chief executive officer of overseas property portal Homesgofast Nick Marr said that since the legislation was passed in the wake of Hurrican Katrina in 2005 to create the zone - providing tax incentives and grants to help build up the economy in the states of Mississippi, Louisiana and Alabama - his firm has seen a significant rise in interest.

Because of this, he suggested that the region and the USA in general could be a strong prospect for investors if they take a long-term view.

Mr Marr concluded: "In all, if you have the cash the States is a great place to buy property if you are prepared to hold on to it or simply use it for the next five years."

Since Katrina hit, the US government has provided USD126 billion (GBP77 billion) in aid to the region.
 

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