Whereas Middle Eastern and Asian buyers/investors have tended to dominate the marketplace since 2007, it appears that wealthy Europeans have rediscovered their appetite for international property.
In the past quarter alone, Quintessentially Estates has been instructed on search requirements in the order of £200m – up 50% on the same period last year.
The bulk of these requirements have been driven by property buyers from Germany, Norway and the Netherlands.
Penny Mosgrove of Quintessentially Estates, comments:
“Turmoil in the equities markets in driving buyers back to a safe haven they trust – property. This, coupled historically low interest rates throughout the eurozone, has created a surge in demand.”
France remains a perennial favourite among Quintessentially Estates’ clients, while others are hoping to bag a bargain in the best areas of Greece, Italy and Portugal where the domestic economies are suffering. Further afield, destinations in the Indian Ocean, Caribbean and Brazil are featuring among the wish lists of wealthy European buyers.
She continues:
“Off the back of the positive trend, there is still a big note of caution in that British and US buyers remain conspicuous by their absence. This is in no small part connected to confidence in their respective economies and currencies.”
Quintessentially Estates is an international search agency with access to top end properties and developments throughout the world.
The service provides buyers with unique access to a portfolio of £750m of properties in locations including Andermatt (Switzerland), Porto Heli (Greece), Marrakech, Mauritius and Zanzibar.
