There are probably too many lists in journalism: There's the Fortune 500, Vanity Fair's New Establishment and, cough, PERE's 30 Most Influential. And now adding to the journalistic clutter is International Living's list of the Markets to Watch in 2007.
The magazine has compiled a list of emerging markets where they feel land value is set to skyrocket. “The price of real estate generally goes up in line with inflation,” Leif Simon of International Living, says in a press release. “But in some pockets of the world, real estate will appreciate at a much faster rate.”
Some of those pockets include Montenegro, which the magazine describes as “a hidden yet spectacular Adriatic gem,” and Cartagena in Colombia, “a walled city in ‘The Forgotten Caribbean.’” While some people probably think Colombia was forgotten for a reason, International Living seems to think it's poised for takeoff.
Others markets that should apparently be bracing for an influx of investment money range from the plausible (Calabria in Italy and the Flamingo coast of Mexico) to the less so (the Cloud Forest located in Honduras and Ciudad Vieja in Uruguay).
The magazine notes that the locales chosen were “unique” and had “good value” with “limited inventory.” Or, as Simon points out in the press release: “The less there is of something, the better for whoever owns it.”
In other words, after years of conflict and political strife, the people of Montenegro have a property bubble to look forward to.