Iraq is the number one destination for property investment according to a poll by an on-line property group.

The company believes that with low returns being achieved in the traditional Fly to Let hotspots, investors are turning to other high risk areas.

The figures have been produced by Simplyzigzag’s following its recent poll which was conducted via the company's website over a 12 week period from the 1 March 2009 to the 31 May 2009.

It revealed strong feelings for volatile regions. Iraq was firmly in first place with 44.6 percent, over double its nearest rival, Croatia 17.9 percent. Costa Rica followed with 16.1 percent, Bulgaria, 12.5 percent and Romania, in the top five, with 8.9 percent.

Raya Mamarbachi, Director at Simplyzigzag, said: “Once upon a time if you wanted to buy property abroad, there were only a few options, with France, Spain and Portugal being the most popular. For the incredibly wealthy came Florida, the Caribbean and skiing chalets in Aspen.

“Iraq, once a crazy idea, has been become an ideal place for investment. Its economy though plagued by war is dominated by oil, agriculture and tourism. Despite the volatility in the market, huge returns can still be made.

“Kurdistan’s capital, Erbil, has seen huge rises in foreign direct investment. Croatia, Bulgaria and Romania have all flourished in recent years.

“Investors are swopping allegiances with more traditional places for high risk areas. With the American market in constant turmoil, the Spanish and French market in a slowdown where else should Brits go? Iraq and Costa Rica remain un-spoilt, untouched and an easier place for keen first time buyers to get on the property ladder.”

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