The news is full of stories about global economic crises, and investors around the world have been getting into serious trouble in these volatile markets. Real estate values have plummeted, businesses have been forced to lay people off or close, and as the dollar loses value, even your savings accounts may seem like they are at risk of becoming worthless. If you're clever and you're willing to sift through the rubble of economic instability, though, you may discover that there are fantastic opportunities to be had, as long as you're looking in the right places. In fact, there are several cities around the world that are now experiencing rapid economic growth. Move in quickly and scoop up that undervalued real estate or open a new business in any of these five cities if you want to take advantage of these hard times.
Our nation's capital is definitely not cheap to buy into, but if you're looking for economic stability, you can't go wrong here. Though the rest of the country may be suffering, D.C. has an unemployment rate of just 5.8 percent and a projected economic growth rate of nearly 4 percent over the next year. Waves of government spending mean that investors are pouring into D.C., expecting to see consistent growth in residential and commercial real estate markets.
If you are looking to make your fortune in a smaller, more accessible market, give Austin, Texas, a shot. Four of the ten fastest growing cities in America are located in Texas, but Austin is by far both the most affordable and the most promising for investors. Austin's projected economic growth rate is nearly 7 percent over the next year and the city is famous for its excellent infrastructure.
If you have a taste for adventure and you aren't averse to risk, set your sights upon India. Believe it or not, the population of India may surpass the population of China as early as 2030. Ghaziabad, situated at the edge of New Delhi, is India's newest rising star. Now that Delhi has run short on land, IT companies are pouring into nearby Ghaziabad. As soon as the new international airport is completed, you can expect real estate prices in this city to soar.
Brazil's domestic market is growing at a breakneck pace and the nation's largest city, Sao Paulo, has become an incredibly safe investment environment for global investors. Rents in the city are high and so is the demand for commercial property. Sao Paulo is also an excellent place to manufacture goods like auto parts, since Brazil has a huge tax on imports.
It's no secret that China is the place to be if you want to make some serious money, and for a while there, developers couldn't seem to build in Shanghai fast enough. In fact, new construction was going up so fast that speculators weren't able to unload their new homes and offices, and Shanghai's real estate bubble popped. These days, you can buy some fantastic property in Shanghai for very attractive prices. Things may seem a bit slow now, but this could be your great opportunity to buy into a blue chip market that is poised to explode as soon as the global economy begins to recover.