A major developer is looking to Africa as the next emerging market which is fresh and full of opportunity.

According to the latest research from Colliers International, there should be a slow but steady recovery in investment volumes in the EMEA region (Europe, Middle East & Africa) in the second half of 2008, following the sharp decline in transactions that resulted from the credit crunch.

The Qatari investment firm IAS has resolved to spend $1.6 billion in the CAR, which would represent the latest in GCC interest in African countries. Amongst the real estate projects that are part of this package are tax-free homes, office space and a tourism hotel.

The Kenyan government has apparently decided firmly that reviving its tourism sector is the best way to indirectly benefit the rest of the economy, and to that end, the President has authorised the creation of a state-owned corporation with KSH 300 million to promote tourism and investment in the country.

Many people have become interested in the property market of Morocco, not the least of which are larger real estate firms. One such firm from Kuwait has landed a deal for the construction of multiple projects in the Moroccan city of Agadir.

At the moment, Egypt is very hot property market, but one that is not immune to the global property slowdown. 

Dubai World, a state owned property company in the UAE, has decided to extend investment into Africa further. They have announced $70 million will be allocated to a project in the Comoros Islands.

While there are reasons to be pessimistic about the property market in South Africa, certain companies such as Growthpoint Properties have still been able to attract foreign investment into the country. One possible reason for this to be true in spite of the global economic conditions of today is the depreciating currency in South Africa which is making it easier for people from Europe and North America to buy bigger and better houses for the same amount of money.

According to various sources there has been a high level of interest in Moroccan real estate in the past 12 months, especially from people in developed countries investing overseas. In fact, statistics show that almost a quarter of the properties purchased over that time in Africa by UK residents have been purchased in Morocco. A particular site of interest in the country is Costa Vista.

Egypt and Morocco are leading the world's tourism market by enjoying consistent growth for the last 10 years. This growth is expected to continue to drive the property markets in Africa and the Middle East.

Efforts are being made to make Morocco one of the most convenient resort locations for European tourists, making it one of the hottest spots in the world for investment.

With the collapse of the conventional market  people are turning to places like Morocco for cheap retirement properties, resulting in increased investment from places like the UK.

Many analysts have rated Egypt as having some of the best rental returns in the world.

With the global property market still being brought down by the United States, investors are increasingly desperate to find ways to escape financially.