Assetz® News » HOME | RSS Feed FEED | LIST ALL ARTICLES | ASSETZ HOMEPAGE
Investment Property News from Assetz

latest articles


LIST ALL ARTICLES

Assetz® Property News Service

A whirlwind of opportunity in the US

24th July 2008 | back to article listings BACK    print this article PRINT

The US may seem like a no-go zone for many investors given the doom and gloom predictions about the economy in the country at the moment, but there are new opportunities emerging. The current recession in the US is not the first time the country has been ravaged by disaster on a large scale and it is has certainly a nation that has proved it can bounce back from even the worst of catastrophes. In fact, parts of the US are still mopping up the aftermath of Hurricane Katrina which hit New Orleans and surrounding areas in 2005 and it is these regions that provide the best opportunities for overseas property investors.

According to Adam Samuel, a director of Nubricks.com, this is one area that is seeing strong growth in the property investment arena. "The place that I know from experience and seems to be doing fairly well is a place called the GO zone. It encompasses two or three states that were the states hit by Hurricane Katrina in 2005," he said.

Mr Samuel remarked that there are attractive incentives available for property investors who are keen to help the area get back on its feet after the devastating effects of Katrina. "Basically, there are still so many people without homes because there is not enough housing stock, so the government are offering good cash incentives for overseas property investors to go and buy property in those areas to house many displaced people," he stated, adding that it is "attracting interest of serious investors in both the UK and Northern Europe".

These comments come after the release of a draft housing report from the Federal Emergency Management Agency following the Hurricane Katrina disaster. The report is a year overdue and has been criticised by some groups, although it has been welcomed by chair of the House Homeland Security Committee Bennie Thompson. "This strategy should assure us that survivors will be able to find alternative housing expediently and that disaster housing is indeed temporary," he said.

However, not all areas of the US are seeing such strong interest from overseas investors. Mr Samuel commented that the housing market in Florida has "taken a nosedive" in recent times, but admitted that some canny investors are still seeing good returns from knowledgeable investments. "You have still got your savvy people who are buying in those type of areas and it's not so much about the area for them it's about is the property a good deal and will it make a yield," he remarked.

Assetz® is a UK and International Property Investment Specialist. Please visit our property sites shown below.

Assetz for Investors UK Assetz Hotels Assetz Homes Assetz France Assetz Spain Assetz Cyprus Assetz Germany Assetz Portugal Assetz Ski Assetz Cape Verde Assetz USA Assetz Finance Assetz Fund Management

Accessing the news service

You can view all of the Assetz® UK, International and UK Property Investment Articles and News here.

We also provide an RSS Feed Feed of the news service, or you can view all articles. Click here to view more information on RSS readers and how they make reading online news more convenient.

eXTReMe Tracker