Where in the world to invest money into property?

I currently consider the prime areas for pre construction (or off plan) investment to be: Caribbean (Barbados, Bahamas), US mainland (Las Vegas, Orlando), Central America (Belize, Panama) as well as parts of Europe. Why? Well, areas need to have specific positive influences, over and above the nearby localities or other countries. Let's consider a few from my list above. For example, Barbados continues to be the place where the rich and famous holiday for 4+ months of the year. On a recent visit there (pre rich and famous season!), hotels were already fully booked through to Easter 2007. Then, throw in the Cricket World Cup, and rentals will certainly be strong again. Thus, your income stream is solid. In addition, realtors predict capital growth to be 7-11% per annum for the foreseeable future, and for the island to continue to hold a rare crown of never having seen a house price decrease. Relaxed lending criteria, a stable economy, direct flights from most key airports, Bajan$ fixed to the US$ and a real shortage of good pre-construction developments right now, and there's a chance to make some money there. Thus, Barbados is key for me. As for Bahamas, I'm actually visiting there as I compose this, sat on Paradise Island. The area around Cable Beach is about to be transformed by a huge investment in an area around 3 of the large hotels. I understand the Caribbean's largest casino is to be built there. Anyone who can find the right properties around that area should do well. Unfortunately for my own portfolio, I couldn't do it during this trip as I leave tomorrow, but will be returning in a few months' time to look again. For another, consider Orlando. Many love the area, and many hate it. The key factor for me is the ongoing flood of people moving to the area from colder climates, whether from the Northern states of the USA or from parts of Europe (especially UK). Thus, it has an exceptional quality that other areas of the US (a country for which, as a whole, I foresee falling prices fairly soon, with interest rates having risen so much, many investors on interest only, high loan-to-value deals etc.). I consider Eastern Europe to carry a high risk factor, as having seen recent price hikes, is now expensive relatively to its stability. The UK continues to see price stability without any real rises, and expectations are for the status quo to remain for the next year or two. French leasebacks are always attractive when backed by a solid developer, whereby the investor is guaranteed a 9-18 year rental income, with personal usage allowed. Tax benefits also available. I like to consider areas that are a little unusual too - take Panama. Not a common choice for property investment, especially from a UK perspective, but in my mind, a good one. In Panama City, prices are below $100 per sq ft for prime apartments in prime areas. Yielding c. 10% to local renters, with borrowing rates in the high 5%s, and banks that are more and more willing to attract foreign lending, it has a lot going for it. It is close to one of the most important shipping lanes in the world, which continues to generate steady and significant income for the area. Stick to a reputable developer and the right area, and I am one of a number of people who share the view that Panama is on its way up. Throw in good retirement benefits and a stable US$ based economy, and Panama City has the right ingredients for me. I am also positive on certain other areas of South America (Brazil and Argentina), but am still concluding my research into those. I also like South Africa, but with the same caveat. I will be composing an article on the ins and outs of overseas property financing for my next tome, and look forward to receiving any feedback (positive or negative) on this article.