Although considered by many to be an un-fashionable location, the Michigan City of Detroit is attracting attention from far and wide.

It is believed that potential investors are showing interest in a wide variety of investments. As the US government ploughs millions into reviving the city's ailing car industry and President Barack Obama declares his love for the place, it has been suggested that Detroit could become a hotspot.

As well as enquiries from the more traditional overseas investment base in Canada and the UK, enquiries are also coming in from as far as Singapore and Saudi Arabia.

One property investment strategy that Detroit is particularly ideal for at the moment is in rent to buy houses because house prices are still low and demand for rental accommodation is high. At present the housing market in the US is perfect for investors looking to capitalise and as Detroit emerges from the recession, investors can also take advantage of government subsidised rents. Even Investment property tax in Detroit has been reduced for investors to further stimulate a recovery there. After being approached by potential investors the city agreed to cut taxes to smooth the flow of overseas investment into the region.

As well as buying foreclosed homes to rent as a strategy, there are also strong gains to be seen on capital investment over time.

Detroit is perhaps best known for its auto industry and General Motors (GM) and Ford are now reporting profits in the billions. After so many employees were laid off during the motor industry crash, the industry now needs to employ 10,000 new employees each year.

In addition to the huge motor industry that Detroit has, other major employers such as the Marathon Oil Corporation and Quicken loans are also looking to increase their workforce.