Top overseas property hotspots for summer 2007

The top places to invest in an overseas property this summer are Morocco, Dubai, Cyprus, Budapest and the Caribbean.

That is according to experts at overseas property portal Rightmove Overseas, who chose the locations based on rental and price growth potential and current prices.

Rightmove Overseas views Morocco's "lush gardens, olive groves and palm trees coupled with medieval alleyways and the vibrant market stalls" as key reason for its increased popularity with investors, as well as more cheap flights.

Prices for Moroccan properties range between £100,000 and £125,000 on average, with the cheapest properties around £50,000 and the top-end luxury homes costing millions.

Dubai's combination of luxury, glamour, ambitious tourist developments and city living, making it a good place to invest this summer, the website predicts. Two-bedroom apartments with panoramic views can be bought for £146,000.

A high quality of life, relatively inexpensive living costs and great climate has seen investors becoming more interested in buying property on the island of Cyprus.

The full adoption of the euro in 2008 is also set to see more investment on the island, which has the top tourist destinations of Paphos, Larnaca and Limassol.

Four-bedroom detached villas in Larnaca around two kilometres from the beach with a private pool and sea and mountain views are available from £290,000, with three-bedroom, detached villas in Larnaca Bay available from £140,000.

Also in the top five places to buy overseas property this summer is the Hungarian capital Budapest.

"Budapest, home to fascinating and eclectic architecture, grand old coffee houses and Turkish baths, is an emerging city on the property market," explained Rightmove Overseas.

"Its lively nightlife, rapidly improving gastronomy and beautifully ornate properties are causing more investors to turn their eyes on the city."

Four-bedroom apartments are available from around £250,000 with two-bedroom apartments from £190,000.

The Caribbean meanwhile has good returns on holiday buy-to-lets, with the thousands of visitors attending the 2007 Cricket World Cup creating "a boom in property sales", Rightmove predicts.

Two-bedroom homes with private gardens in St Lucia are available from £106,500, with large four-bedroom houses with sea and mountain views in St Kitts and Nevis for £227,100.

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