HUGE MIDDLE EAST DEMAND FOR USA BUY TO LET HOMES.
Since the USA Property crash in 2008/2009 overseas buyers have been snapping up buy to let homes in areas like Detroit, Ohio, upstate NY and Florida. Investors have been picking up homes for as little as $30,000 and with net returns up to as much as 25%. Over the past 5 years Global Investments Incorporated have led the way in selling USA investment properties to overseas buyers with 4000 plus sales under their belt. The Manchester based firm has been selling mainly to the European and Australasian markets with buyers coming from places like HK, Singapore and Malaysia. The UK has also been very strong over the past 5 years but they are now seeing a huge demand from the Middle Eastern market. We spoke to CEO Mike Moodie and asked his opinion on when the switch in demand started to happen. Mike was quoted in saying. “ The demand for these types of investments has not slackened in areas like the UK or Australasia but over the past 18 months we have seen a significant increase in enquiries from the Middle Eastern Market with almost half of our investors coming from these areas now. “ The reason for this switch in demand is probably due to the economies in the Middle East doing so well. In 2015 alone there were 4 Middle Eastern countries in the top 11 richest countries in the World, with Qatar topping the list at no 1. Wealth funds and Institutional Investors are spending more on US real estate to diversify there holdings. The US economic recovery is attracting the attention of Gulf investors who would traditionally be more accustomed the UK and Europe. With this increase in demand Global Investments are looking at opening their first office in Dubai in 2017 with their first private exhibition being held in November this year. We asked Mike why he has decided to start in Dubai. Mike added, “ We have started with Dubai as firstly we have a lot of existing buyers and also many investors that are still looking to invest that are based in Dubai, but also we feel that it is very central for other buyers in areas like Qatar, Kuwait and also Saudi Arabia that would be happy to travel and see us in Dubai. While we are on the ground there we will be looking at premises for our first office which we are planning to open in 2017. “ Detroit and Ohio have been the companies biggest selling product in the last few years and Mike has told us that this is still the case. Mike added “ Yes we still are selling mainly in the Detroit and Ohio areas. Detroit is really strong with a lot of positive news coming out of the city and billions of dollars pouring in from overseas. I feel that the attraction with our Ohio stock is the Section 8 aspect, meaning that the rent is coming direct to the investor from the state.” Global will be hosting their first private exhibition at the Sofitel, Jumeriah Beach on the 5th,6th and 7th of November. If you would like to book an appointment at the show or learn more about what Global has to offer then please email jonathan@globalinvestmentsincorporated.com or use the below link to make your appointment. http://www.globalinvestmentsincorporated.org