Eurobrix.com: The European Real Estate Portal

Zapatero's Quick Thinking May Save Spain

by Yuri Brixenmortar 28. February 2011 13:52
It's come as an unfortunate occurence to many expats and local homeowners whose property values have rapidly fallen and who have little chance of recouping the money they spent on a home in the near future, but the debt crisis in Spain's property market and wider economy may have been just the kickstart the government needs to reform its key legal and economic structures. And, it seems, it might not be too late for the Spanish state after all. Economists and bond speculators are finally starting to say positive things about investing in Spain, whose prime minister Jose Luis Zapatero has made rapid progress to turn around his ailing economy since the possibility of a Eurozone bailout hit the headlines late last year. Not wanting to join t... [More]

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Bulgarian Property Market Set to Pick Up

by Yuri Brixenmortar 25. February 2011 14:25
Good news for the Bulgarian property market today as local analysts have predicted an upswing in activity over the final two quarters of 2011. The market is one of the unluckier states in the new Europe which has seen severe overheating during a very short space of time, leaving a glut of new homes vacant and unsold and prices rapidly falling as the financial crisis hit. Bulgaria's cheap costs of living and untouched coastal and ski areas made the country ripe for British property investors in particular during the early noughties, and scores of new developments were put up as the money flowed in. As the financial crisis hit, however, and the pound plummeted, Britons raced to sell their local investments at the same time as the country's... [More]

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Now may be the right time to invest in Portugal’s illustrious Algarve

by Yuri Brixenmortar 24. February 2011 14:31
Earlier this week, I brought you news that British estate agent Knight Frank had reported an upswing in luxury home enquiries in the later months of last year, particularly in the Portuguese golfing haven of the Algarve. Popular amongst affluent retirees and the European jet set, the many beautiful luxury villas for sale in its high-end resorts have long been a desirable asset for those seeking a warm climate and perfect year-round conditions for golfing. However, the Royal Institute of Chartered Surveyors' latest report indicates that prices have lowered considerably since the economic downswing, and that the Algarve has in fact been one of the worst affected areas in the country by the bursting of the European property bubble. ... [More]

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Luxury European Real Estate Back in Vogue

by Yuri Brixenmortar 23. February 2011 15:17
In the last couple of years as the recession and the age of austerity took hold, a trend for 'wealth whispering' - or buying pared-down, simple homes to not make a show of one's wealth - was rife among the super rich. Needless to say, this was not good news for the European property market, with traditionally popular markets such as the ski playground of Switzerland and even the lush French Riviera experiencing downturns. Luckily - as perhaps we all suspected - those at the higher end of the earnings scale could not resist the lure of a high-end luxury property for long, as British estate agent Knight Frank reports. "Wealthy residents from a growing number of countries are investing more of their portfolios in luxury residential property... [More]

Ocean View Saga a Timely Warning for European Property Investors

by Yuri Brixenmortar 22. February 2011 12:39
The ongoing case concerning British property investment firm Ocean View Properties serves as a warning that even the rich and assumingly well-advised can fall afoul of European property development scams. The Midlands-based firm, which was dissolved in 2009 owing investors more than £43 million, managed to involve several high-profile football stars, politicians and even royalty in its dealings in 'off the plan' property developments in Spain and the Dominican Republic. According to information that has so far come to light as Spanish authorities commenced prosecution against the firm, investors were encouraged to remortgage their homes and invest the equity in Spanish developments sourced by an associate of the company director, C... [More]

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European Air Travel Restrictions - Help or Hindrance?

by Yuri Brixenmortar 21. February 2011 15:08
It may come as a rather disappointing blow to regular travellers and European property owners to hear that airport groups within the EU are lobbying to have its liquid restrictions period extended beyond the original date of 2013. After setting up a five-year ban to give explosives experts the time to come up with adequate liquid detection technology, airports within the EU were expected to begin phasing out the restrictions this year, with passengers able to carry unlimited liquids in their hand luggage once again in two years' time. Trade groups representing the major airports and airlines, however, have slowly been increasing pressure on EU officials to abandon this plan, asking instead for the liquid ban to remain fully in place until... [More]

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The Algarve - The New European Property Buyer's Paradise

by Yuri Brixenmortar 18. February 2011 14:11
In lieu of the continuing uncertainty in the Spanish property market, more conservative European real estate buyers are looking further south for a retirement asset to invest their money in, and over the past few years the lower Portuguese region of the Algarve is proving to be the front runner for overseas property investors' dollars. With its year-round warm climate, abundance of space and low-density developments, a certain air of desirability and exclusivity is leant to the area that some would argue Spain simply doesn't possess anymore. As a result, a number of high-end new resort and residential projects have sprung up over recent months (although don't worry, supply is still being restricted at a level that prevents a Spain-style ... [More]

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A New, Leaner Market for European Property

by Yuri Brixenmortar 17. February 2011 15:34
The collapse of some key markets across the European property industry may have been temporarily bad for business, but it hasn't caused the market to dry up completely, only to adapt. According to recent research from international property firm Assetz, the new post-recession property buyer is more exact about what they want and less willing to invest their money in something they can't see before their very eyes. Before the global downturn, only approximately 20% of prospective investors would organise a viewing trip to their chosen development, in order to investigate the developer, the local area and the quality of the scheme. Today, according to Assetz, around 80% visit their prospective property before investing. Increasing media... [More]

The Right Advice is Key Before You Buy Your European Property

by Yuri Brixenmortar 16. February 2011 12:33
Thousands of buyers still risk their money by purchasing property in Europe without taking on specialist legal advice. Without knowledge of local laws, procedures and processes, this is one of the strangest and riskiest phenomena in the world of overseas property. Take professional footballer Lee Briscoe, for instance. When the ex-Sheffield Wednesday and Man City player retired five years ago, he decided to invest in property abroad. In 2005, when the European property boom was almost at its height, buying a luxury second home looked like a sure bet to set Briscoe up for the future. "Around 75% of footballers coming out of the game were getting into property, either as an investment or for personal use", he recalls. "The markets across... [More]

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Balearics Lead Spanish Property Recovery

by Yuri Brixenmortar 15. February 2011 11:40
The Spanish property market is finally, slowly starting to pick up. The Spanish National Statistics Institute recorded positive growth in housing sales last year for the first time since the market collapsed in 2007, with around 400,000 total property transactions in 2010. Although this is still well below the 700,000 odd transactions annually at the peak of the market, it shows a modest recovery from the past two years of rapid decline. Property sales grew 6.8% in Spain last year, and when you compare that with A 28.8% decline in 2008 and 25.1% in 2009, it would seem like astoundingly positive news for Spain as investors are finally showing the confidence to head back into the market, albeit slowly. The Balearic Islands, with their inhe... [More]

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