To buy or not to buy: that is the question. In the space of a decade fortunes have been made, and sometimes lost, through property investment. Everyone has an opinion on whether real estate has had its day as a wealth creation vehicle, or whether bargains still exist, and if so, where.
It's certainly true that buying a home overseas has never been easier. A click of the mouse reveals myriad 'opportunities' in countries near and far. Banks are more willing to lend again, and some of the proffered returns do sound enticing.
But is it a good time to commit one's hard-earned to markets no-one seems willing to confidently predict or, as the property evangelists claim, does shaky confidence signal a buyer's market?
According to a new report by Jones Lang Lasalle, real estate market fundamentals overall remain 'relatively encouraging'. It found that while the world's major real estate markets have been unsettled by economic uncertainties in Europe and the United States, investment volumes, tenant absorption rates, prime rents and capital values have held up remarkably well.
'Most key markets are in better shape than they have been for several years and are making steady progress through this period of heightened economic volatility,' the researchers concluded.
JLL's report found that most emerging markets have continued to show resilience, with robust absorption levels and rental growth across all commercial sectors. It cited Jakarta, Beijing, Moscow and Sao Paulo as among the world's most dynamic real estate markets, contrasting with North America, Europe and Australia, where expectations have been lowered over the near term. The biggest downside risks are in Europe, according to JLL, particularly those markets in the 'eye of the debt storm', such as Madrid, Milan and Dublin, where leasing markets remain weak.