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US shift opens property opportunities - 2 May 2007

Location, location, location is the mantra for property buyers, whether they are buying at home or overseas, and now, with news of a shift in policy from the US government there are opportunities to buy property in some of the most prestigious locations around the world. And they are not necessarily as expensive as their history might suggest.

The US government has undertaken a global sell-off of property assets following the introduction of strict new safety guidelines. This means that a host of historic buildings are now deemed as unsuitable – possibly including the US embassy in London, located in Grosvenor Square.

While the anticipated £90 million asking price for the London property may be a little steep for most buyers, there are some embassy buildings and associated properties that would make a great investment.

These include a pair of four-bedroom houses in Warsaw’s trendy Mokotow district, available for $400,000 each (£200,702), two homes in Lima, Peru for $215,000 apiece (£107,883), or an impressive 107-year-old single family house dating from the Dutch colonial era in Indonesia – yours for only $550,000 (£275,980).

The major advantage of these properties is that they will almost always be located in upmarket districts of the capital cities, and as such should be easy to rent out to the high-end market.

If you are looking a something slightly grander, however, there are embassy compounds in such cities as Taipei, Nicaragua, Mali, or the ‘grand colonial estate’ of the old US Embassy in Napal. Despite the fact that the US government now regards these properties as not being secure enough for their staff, one can imagine that they do already have some impressive security features...

 

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