Property Frontiers: Oil Fuels Boom in Property Markets
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Property Frontiers: Oil Fuels Boom in Property Markets
As the world's energy supplies come under increasing scrutiny, oil reserves as far a field as Mongolia are generating a wealth of excitement, and leading to a surge in local property markets. As such, capital appreciation and rental yields in localised oil districts are rocketing, creating excellent opportunities for property investors. To take advantage of this potential, Property Frontiers announce the launch of two new property developments in oil towns in Canada and Mongolia.
(PRWEB) November 9, 2007 -- Fort McMurray, a city in Canada's north eastern province Alberta is creating waves in the oil industry. Commonly dubbed Ft. McMoney thanks to its profit making credentials, US government has named the city as the preferred solution to replace the United States' dependency on Middle East oil. As the largest source of oil in the world, and with reserves bigger than Saudi Arabia's combined, Ft. McMurray is considered to be at the heart of Canada's oil production, and has the capacity to produce phenomenal amounts of the fuel. Indeed by 2015, the area is expected to produce over 3.0 million barrels of oil per day.
Today though, oil sand workers are battling a severe shortage of local accommodation and are currently being housed in camps on site. Demand for new residential accommodation is therefore enormous and with occupancy at 99.7%, rental yields of up to 24% are being achieved. Canadian property is therefore experiencing somewhat of a boom and Property Frontiers announce the launch of a development in a prime location to appease these high levels of demand. Riverside Executive Suites is based in downtown Fort McMurray just 30 minutes from the oil sands offering outstanding build quality and comfortable living for the workers of the oil sands. Capital appreciation is currently very high at around 20% pa meaning investors are faced with a wholly positive real estate outlook. Investing now will allow them to ride the wave of success that Ft. McMurray is enjoying and should guarantee very significant returns.
Property Frontiers have also launched a new project in Mongolia where similar opportunities exist. Ulaanbaatar is the operations centre of some of the world's largest mining companies with large coal reserves, several un-tapped oil fields and the largest and highest deposit (2.85%) copper and gold mine in the world. Significant growth has been seen in the country's entrepreneurial businesses and the Mongolian property market is in a strong position. For sale are apartments in the Temple, located in a key city centre location overlooking the central lake. With supply of local accommodation currently very limited, dramatic squeezes on demand have been experienced and rental yields of 13% net plus capital growth of around 30% is expected on apartments in the Temple. These phenomenal rates are likely to be further bolstered by increasing banking confidence which should sustain growth over the long term.
It seems then, that oil reserves may just be a pre-requisite for some of the most profitable real estate investment opportunities around at the moment.
For more information on properties available in the aforementioned destinations or for more information please contact Property Frontiers +44 (0) 1865 202 700.
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Press Contact: Emma Holifield
Company Name: Property Frontiers
Email: Email Us Here: http://www.prweb.com/emailmember.php?prid=567295
Phone: +44 (0) 1865 202 700
Website: http://www.propertyfrontiers.com/
More Information: http://www.prweb.com//releases/2007/11/prweb567295.htm
