Property investors can no longer count on yield compression for returns – rental income growth is fast becoming the prime focus. Erika Morphy reports on the global search for the next boom market.
If anyone knows a good real estate deal, it is John Hitchcox, one of Europe’s top property developers and head of YOO, a London-based company that operates in 15 cities around the world with a development portfolio of more than 8000 apartments.
Mr Hitchcox recently bought a personal residence in South Africa, a property market that he says holds a great deal of promise. “There is a large emerging middle-class community with growing spending power thanks to the policies that [former president Nelson] Mandela’s government and the current government have put in place.” The house, he says, is certain to appreciate in value.
Only time will tell if his bet on South Africa is prescient. Other investors are raising funds and/or buying property to develop in India and China.
If anyone knows a good real estate deal, it is John Hitchcox, one of Europe’s top property developers and head of YOO, a London-based company that operates in 15 cities around the world with a development portfolio of more than 8000 apartments.
Mr Hitchcox recently bought a personal residence in South Africa, a property market that he says holds a great deal of promise. “There is a large emerging middle-class community with growing spending power thanks to the policies that [former president Nelson] Mandela’s government and the current government have put in place.” The house, he says, is certain to appreciate in value.
Only time will tell if his bet on South Africa is prescient. Other investors are raising funds and/or buying property to develop in India and China.
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