Corporate foreign exchange news

Abu Dhabi, Florida offer opportunities in repossession market

Tuesday, 04 August 2009 09:13:10 GMT

Property investors looking to capitalise in weakness in overseas housing markets should consider buying in Florida and Abu Dhabi, Property Frontiers has advised.
The emerging market specialist's head of research Christopher Chadd explained that in Florida, many people are already wise to the opportunities and are buying up repossessed real estate faster than it can come on to the market.
Meanwhile, Abu Dhabi was also said to offer a stronger alternative to investment in neighbouring Dubai, although discounts will not be as steep in the Emirati capital.
"Abu Dhabi has had the advantage of watching Dubai's progress and learning from its mistakes. Again we are actively seeking sound investment opportunities in this part of the world," he explained.
Mr Chadd's comments followed research from RealtyTrac which showed a nine per cent rise in the number of foreclosure filings on properties in the US in the first half of the year, with a total of 1.9 million filings on 1.5 million homes recorded.ADNFCR-2522-ID-19294829-ADNFCR
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