The European Real Estate Portal

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]

Germany - Europe's Property Investment Safety Net

by Yuri Brixenmortar 14. February 2011 12:19
An interesting article in Australian newspaper the Sydney Morning Herald over the weekend looked at why Germany has remained a stable market for European property investment, in the face of the various booms and busts in the other 'hot' economies of its neighbours. Whilst Spain, France and the UK have all had their moments in the sun, the overheating of the markets in these other European powerhouse economies has now resulted in a decline in property values as the recession continues its effects. Meanwhile, Germany avoided both a dramatic increase in property values, and the resulting dramatic downswing. As a result, it's seen as one of the safest and most stable locations for property investment on the Continent - it topped a recent list... [More]

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Morocco is the New Destination for European Prestige Home Buyers

by Yuri Brixenmortar 8. February 2011 12:42
The trendier amongst the European jet set have always been attracted to Morocco. I was first introduced to the place way back in 1994, via the British comedy series Absolutely Fabulous which charted the attempted career ascendance of pretentious London PR Edina Monsoon. The episode where she and rake-thin, Botoxed best friend Patsy travel to Marrakech for a glamorous African getaway exposed to me, and probably the rest of the English-speaking world who didn't already know about it, the breathtaking desert locations, elegant architecture and laid-back '70s atmosphere of the Moroccan city, and since then European tourists and holiday home owners have gradually been flocking to this exotic Northern African nation. Morocco's close proximity ... [More]

Italy - the European Property Market on Everyone's Lips

by Yuri Brixenmortar 7. February 2011 11:59
Last week, I brought you news that low costs and cheap flights, combined with the tourist renaissance it was receiving thanks to celebrities like Johnny Depp, was making Italian property a hot market once more. Despite the fact that at the end of last year, the country's debt-ridden economy was placed on the EU's list of possible candidates for bailout, fast forward a few months and it doesn't seem to be faring nearly as badly as co-bailout nations Spain and Portugal. While associated legal restrictions are further holding back the property markets of both Spain and Portugal from experiencing a full recovery, in Italy laws remain relatively simple for foreign property investors and horror stories of legal battles or missing deposits are f... [More]

Airline Figures Show Continuing Interest in Europe

by Yuri Brixenmortar 4. February 2011 12:09
The release of the International Air Transport Association's final figures for 2010 shows promising signs for the recovery of both the air travel industry and European tourism. Despite continuing financial woes pinching many peoples' pockets, and unforeseen interruptions to services from the Icelandic volcano and winter snowstorms, people came back to the airports in droves last year. Passenger flights rose a total of 8.7 per cent over the course of 2010, while planes were also generally 2.7% fuller than they were in 2009. Although in terms of percentage growth of arrivals, Europe was fairly close to the bottom of the list, with 5% more air travel to Europe as a whole, there was still a significant level of renewed interest. Considering ... [More]

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Good News for Portugal's Buy to Let Investors

by Yuri Brixenmortar 3. February 2011 12:17
Portugal's restrictive rent control and eviction laws have long been an obstacle in attracting substantial European property investment to the country. Despite being scenically beautiful, conveniently located to the central nations of Europe and a relatively untapped tourist spot, with a huge expanse of beautiful properties for sale, stories of home owners being stuck with dud tenants and unable to evict them, or with ridiculously cheap monthly rent payments and being unable to increase them, have been rife in the media for several years. The latest account of rent control woes, featured on Bloomberg's website today, details a commercial property owner's struggle to get her tenants to pay anything at all. Isabel Palma has been trying to ... [More]

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Europe tourism could boom from Egypt/Tunisia unrest

by Yuri Brixenmortar 2. February 2011 12:22
Similarly to the financial crisis, it may not exactly be PC to say that us in the European property and tourism industries are happy about the political problems in Egypt and Tunisia. But it must be said that both of these destinations in recent years have certainly emerged as worthy competitors, as travel costs in Europe continue to increase. As investors increasingly look to the booming Middle East for property investments, cheap developments have been popping up all over Egypt and Turkey in particular, while investment companies and agents sing the praises of these areas. Tunisia, while perhaps not a hot property destination, is certainly an alternative to many traditional Western European holiday destinations for its warm climate and ... [More]

Where Tourism Goes, Property Will Follow

by Yuri Brixenmortar 1. February 2011 11:53
Earlier in the month, I brought you my suspicions that the economic downturn in Europe, particularly in countries like Italy and Spain that are suffering the worst debt crises economy-wise, would eventually spell good things for the European property market. Now comes the proof in the pudding - both Italy and Spain have emerged as the most popular and best value for money when it comes to tourist destinations in the eurozone, and are likely to continue as such into the new year. And as every body knows, where a tourist boom goes, a property boom will follow. The announcement of budget airline Ryanair's Q4 2010 losses didn't come as that much of a shock to those in the travel and tourism industry - while the airline's supposedly 'rock-bot... [More]

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