MONGOLIA TIPPED AS PROPERTY INVESTMENT HOT SPOT

Ulaanbaatar /MONTSAME/ Property investors seeking the next emerging real estate market for investment might like to look at places as diverse as Mongolia, Africa, Brazil and Grenada in the Caribbean, according to Property Wire news published Monday. With one of the fastest growing economies in the world and 2013 seeing laws revised in order to make the country more attractive to foreign investors, Mongolia is described one of the most exciting investment prospects for the year ahead. ‘Mongolia has rocketed from being a largely nomadic and relatively unknown country, at least in investment terms, to being a key hotspot due to the discovery of its incredible mineral reserves, worth an estimated US$1.5 trillion,’ the report says. ‘The wealth generated by the mining industry has flowed rapidly through the country, with the result that demands for high end accommodation and western style luxury shopping and leisure facilities have increased at an incredible pace. This will be an exciting country to watch as developers try to keep up with the Mongolian population's demands,’ it points out. They also might find good investments in solid property markets in the United Kingdom and the United States, says the Global Property Markets 2014 report from investment agency Property Frontiers.