When it comes to property, 2024 has struggled to stir much excitement from investors. Across the globe, prices have been fairly static, even dropping in some places. With high-interest rates come fewer buyers. Yet it is not all doom and gloom. These can be some of the best times to find excellent property deals.
There are a few areas across the globe you may want to consider if you are planning to invest in property. Below is our pick of the top three.
United Kingdom
Yes, you heard it correctly. Before you go packing your bags and looking abroad, the United Kingdom is set for huge growth over the next few years, particularly in its major hubs. Liverpool, Birmingham, Nottingham, and Manchester are all areas that are predicted to have population growth, a housing shortage, and increased demand for rentals.
There are also a lot of advantages to keeping your property empire within the UK itself. Firstly, there are plenty of websites and estate agents that can help you with the whole process, from finding a property to funding the loan. If you also consider selling a property in one area and investing in another, you can get assistance to offload properties quickly. There are new websites that offer increased transparency and security compared to other “Sell my house fast” companies and even offer traditional estate agent services. You should also never underestimate that all correspondence will also be done in English, not always the case when buying abroad.
The United States
The United States is so vast, that areas can have huge differences in property prices and outlook. However, the country as a whole is predicted to remain stable with a steady appreciation in price. This increases as properties get closer to major cities.
Several economic factors have contributed to this. The dollar is still viewed as a stable currency that many people turn to in lean economic times, strengthening the economy. It still has a strong market and is predicted to become the first country to become self-sufficient in its energy supply shortly.
Its GDP is extremely high and property remains relatively reasonable, dependent on the state and area. Interest rates have remained low, meaning mortgages will as well. That means the US is a place where you can still buy for a reasonable amount and watch the value of the property go up.
Germany
Europe has been hard hit by the economic downturn, but its largest economy, Germany, remains strong. Also the fourth largest globally, it has a range of industries that are spurring growth in and around its major cities. Many of these cities also have a housing shortage, so if you can get in early you can expect to watch your investment grow and get a strong yield. One tip is to avoid office and commercial property which Germany has an excess of.
There are a few other places in Europe expected to grow, such as Denmark and a reinvigorated Spain. Make sure you do your homework and you are sure to find somewhere suitable.
