The Top 5 Property Investment Locations for 2017
With the New Year creeping ever closer, we asked the MEPM property gurus what destinations to look out for in 2017. Here are their projections for the top 5 investment locations for 2017.
Long known to the jet set as the secret luxury destination, Montenegro on the Adriatic has been attracting substantial investment since the end of the regional conflict in the 1990s. Within just 2 hours flight from most of Western Europe, Montenegro boasts dramatic landscapes, clear waters, beautiful sandy beaches, fantastic restaurants, luxury shopping and exciting nightlife and is strongly competing with many luxury European destinations. Find out why Montenegro is the new Cote d'Azure!
A range of luxury property and touristic projects are under development with substantial segments of these projects already complete and operational. Porto Montenegro, the largest development on the coast is a place full of fun and activity with stunning marina front penthouses interspersed with luxury brand shopping from Sunseeker to Dior. There are also a number of other exciting development projects dotting the coast.
The regulatory environment is sturdy and there are substantial tax incentives for investment into the market. Buying and selling costs are low in Montenegro with full circle costs in the region of 6.5% - 7% excluding VAT. VAT on new build properties is applicable, but buying through corporate structures can minimise exposure. For those considering to relocate income is taxed at a flat rate of just 9% of worldwide income and with many new build projects a renewable one year citizenship is available.
Think of Greece and you imagine a place full of history, culture and a quintessential Mediterranean lifestyle, vibrant nightlife and cafes and restaurants. Athens, its capital city, offers a combination of the touristic Greece and authentic Greece.
Since its dramatic exit from the Euro in 2015 the country is expected to take an upward turn through 2017 with a projection of 1.2% GDP growth, the countries first positive growth since 2008. Transfer tax was reduced to 3% in 2014 and an incentive to encourage investment in new build property means that in exchange for the payment of VAT on new build properties no transfer tax is payable. This makes off-plan / new build property very tax efficient. Inheritance taxes for the most direct relatives also makes Greece a very attractive investment for those looking for a long term hold.
MEPM is currently selecting from a number of options in Athens and will be bringing some opportunities to market in early to mid 2017. Watch this space to learn more, or register your interest here
3. El Gouna
The Hamptons of Egypt, El Gouna is where the wealthy go to play. The self-contained, private marina town which is, in fundamentals, owned by property magnate Samih Sawiris and the rest of the Sawiris family, offers an unrivalled lifestyle. The town has grown organically since its establishment in 1989 and offers a truly unequalled way of life It is the only town developed for residential tourism in Egypt and it benefits from a live in population in excess of 10,000 people, giving it life and buzz all year around as well as fully functional amenities.
There are a range of development projects on offer within El Gouna and there are always a few resales on the market too, some of which can come at a real steal. The inventory ranges from hotel suites through to apartments and decadent villas.
It’s almost impossible to get across in words the charm of El Gouna and why it attracts the jet set. Come and see for yourself
Now that Cuba is back in favour with the United States, its position in the world has changed and tourists are aiming to get involved before the dynamic of the country changes. Cuba is open for business and tourism with new routes being opened into the country. Property investment in Cuba is still tricky, but it will be the early investors who win here and can capitalise on the growing tourism.
In 2015, over three million tourists visited Cuba enhanced by a 40% increase in US visitors since moves to relax diplomatic relations between the two countries started in late 2014.
Luxury hotel and resort developers are chomping at the bit to get access to this market as it opens up. The IMF have projected that it will attract 10 million visitors per year once any travel restrictions are lifted and developers and property investors alike are keen to capitalise on this huge demand. So why not join us to find out more!
Always a popular choice with elite property investors, Marbella remains a tried and true investment location. A combination of its unique microclimate providing year round sunshine, its yachting lifestyle, famously stunning beaches and its international community make it an extremely desirable destination.
Compared to other locations in the Costa del Sol, Marbella is experiencing a steady and continued demand and prices remain steady. In 2015, house prices grew by a sensible 2% and we expect a similar performance or marginally better to have occurred during 2016. The Golden Mile, Puerto Banus, Neuve Andalucia, and Sierra Blanca are some of the 'must-own' areas along Marbella's coast with properties moving quickly in these neighbourhoods.
Strong tourism to Marbella makes property in the town extremely popular as buy to let investments. An abundance of flights to Marbella from throughout Europe and further afield, make Marbella a sensible and well connected choice for investors.
MEPM keep careful watch on the worlds prime residential property and resort markets and select the best locations and properties for our members. If you are looking for something truly unique, register with your criteria and we will find a selection of prime property to meet your needs.