Emiratis and expatriates alike are reaping the benefits of a strong dollar. The Bloomberg Dollar Spot Index, which tracks the currency against 10 of its major trading peers, gained 11 per cent last year, the biggest annual gain since 2004.

The dollar advanced 14 per cent against the yen last year, its third straight annual gain, while it rose 12 per cent versus the euro, its largest advance since 2005.

We are fortunate in the UAE to have the dirham pegged to the dollar. Following the recent admission by Mubarak Rashid Al Mansouri, Governor of the UAE Central Bank, that the UAE has no intention to de-peg its currency as it brings economic stability — this gives us an upper hand when looking abroad to diversify our investments in the current climate.

And tangible investments such as brick-and-mortar are always one of the safer bets.

Currency risk is always a concern and for that reason there are some investors who prefer dollar, or dollar-pegged, investment markets. With this in mind, we believe New York City, Chicago and Miami are the key real estate investment opportunities.

But I see huge opportunities in certain currencies as I feel they are currently undervalued against the dollar, and most people living and working in the region are very surprised at just how easy it is to invest into strong assets in some of the strongest markets in the world.

The euro is a big talking point at the moment, but if people are taking a mid-to-long term view on investment opportunities, the Eurozone should appeal as the region of choice, as the currency will stabilise soon and recover. Property markets such as Berlin are very appealing right now.

The city has established itself as something of an investment stronghold within continental Europe. The German economy has proven itself incredibly robust throughout a difficult period, and Berlin in particular has benefited from its diversified economy to record GDP growth of 17.4 per cent between 2005 and 2012.

Despite this, the city remains relatively cheap and is attracting migration at a high rate that’s predicted to add over 300,000 new residents over the next decade. The concept of home ownership is growing significantly in Germany, and this expansion of the property sales market is making the country particularly appealing for investors.

The Berlin market in particular has a very low ownership rate of just 16 per cent which is expected to rise significantly.

The UK is also a market that gives foreign nationals the same legal stance as someone living and working there. Banks also lend to foreign nationals (not living in the UK) at very low interest rates. Although the country is a diverse place with numerous hot spots, many areas of the market have peaked.

So it’s essential to choose assets carefully and seek out good advice. There are some markets that I would certainly want to steer clear of.

London is expensive, but can still offer good value in some areas despite quite high prices. Outer London locations are showing particularly high potential for strong returns as price growth ripples outwards from the centre. The end of 2014 saw a small slowdown in growth, but this should be taken in the context of an average price increase of 11.1 per cent across the year as well as uncertainty over Stamp Duty and Mansion Tax proposals and the inherent caution typical in the lead up to an election.

Forecasts still put future growth at 22 per cent to 2019.

Looking further afield from London, work to regenerate one of Berkshire’s foremost economies continues apace under the 450 pound million ‘Heart of Slough’ masterplan. Now worth more than 2.5 billion pounds to the UK economy and home to more European corporate headquarters than any other UK city, Slough pulls in almost 40,000 commuters every day to its many business enterprises, while almost 32,000 take advantage of the town’s convenient location to commute outwards, many into Central London.

When considering how to save for the future, and where to invest your savings or retirement nest egg — most are comfortable sending it home. While this might be a good idea if the opportunity is right, for example the UK or Europe at present, sometimes the real pay-off might be in a location outside your comfort zone.

In circumstances like this, ensure you do your due diligence and as with any big investment careful consideration must be taken.

The writer is Director and Head of EMEA at IP Global.