The world today is a global village, many thanks to the internet and globalization. Just with the click of a mouse, you will get any information that you need about what is happening in any part of the world. This has really made things to be easy, especially as regards to investing.
That there is a crisis today in the property market is no longer news. Everybody knows about this, no matter the country or continent where you are living. Because of this crisis, many investors are not ready to stake their money in any property investment, at least for now. They want to wait for the market to stabilize, so that they can know the direction of the market. This is a wise decision, no doubt about that.
However, I have a different view or approach to this matter or situation. I believe that instead of waiting for the economy of America to return to normal, which analysts have predicted that it may take between six to twelve months to do so, why not invest in the developing markets of Africa? If the property market is bad in America, it is still booming in places like Nigeria. Instead of waiting for American economy to improve before buying a land or property, buy those properties in Nigeria, and wait for America to come back.
Property market in Nigeria is so sweet that you cannot loose your money, except you fall victim to fraudsters. There are places in some remote places of Lagos, where a plot of land was being sold at the rate of #360,000.00 As of October 2007, but as of the time of writing this report, the price of a plot of land there is from #800,000.00 to #1M. There were people that knew when the land was being sold for #360,000.00, but were waiting for what will become of that area, today, they are paying the current value to have a plot there, and there are still some that are still waiting.
John Jacobs Astor, who was a one time richest man in America, was quoted as saying “if I could live life all over again, I would buy every square inch of Manhattan”. Instead of waiting for the economy to improve before investing, begin to invest in other developing countries like Nigeria, Ghana, South Africa, etc. Through the internet, you can get reliable property brokers or managers that will assist you to get your dream property that you can sell within one year with 100 percent profit.
Notes of warning however, make sure that you do your proper diligence before settling for a broker or property manager to avoid being duped. Fraud rate is very high in these countries, especially in Nigeria.