“Not since the Far East in the 1970s have I seen a market that has the economic potential that Iraq has today”. So says Sir Claude Hankes, adviser to the Bank of Iraq and founder of the first western investment funds for Singapore and Hong Kong 30 years ago.
If he's correct, then Iraqi property could make a good investment in the years ahead. For now, the Global Property Guide says lack of clarity about foreigners' property rights and a lack of security mean Iraq offers no opportunities for investors.
Bahrain is keen to offer itself as an alternative. Government-backed infrastructure projects, including airport expansion, bode well for its tourism industry and resort communities estate agents say.
International golf property specialist, Barton Wyatt International, is marketing Bahrain's first golf resort community, Riffa Views, which has a Colin Montgomerie designed, 18-hole championship golf course, Boris Becker tennis academy and 870 villas. Villa prices start at GBP515,000.
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