As the international economy continues to recover, investors are starting to return to realty investments in a big way. However, whilst much investment was seen in exciting new locations over recent years, the tide seems to have turned back to the more traditional European countries.
To put this into focus, at number one again is France, commanding a large thirty three percent of all inquiries to date. This seems to have been driven most notably from UK investors, though there has also been widespread interest from Europe and further afield.
France has always been a good port to head to when looking at property investments; and this is truer now. Helped by successive governments’ cautious approach to all things financial; high quality investors have been seduced. Other than this, there does not seem anything particularly attractive.
Indeed, this makes Spain’s resurgence all the more surprising, particularly in light of some worrying realty and land related stories across the media. This has not hampered inquiries rising by more than twenty percent over the last twelve months however.
However, whilst these reports over licensing laws corruption and land grab issues have enjoyed much analysis in the international press, much of this has been driven by political maneuvering and is really nothing new.
Probably because of this, realty investments have come from established companies, rather than for those looking to private investments. Along with generous interest rates, a plethora of properties flooding the market at once and desperate vendors slashing prices, those with their fingers on the pulse have swept to take advantage.
This of course puts both France and Spain collectively, controlling in excess of half of all market inquiries emanating from the UK and Europe. However, a sizable amount of interest is also to be seen in Turkey, Portugal and Italy.
Turkey, which is often referred to as the new Spain, enjoys many of the same benefits. Most notable of course is the Mediterranean influence in the food and weather. Tourism too is soaring, with estimations that the thirty million visitor mark will be reached for the first time this year, (2009).
Not being part of Europe, and subsequently the strong Euro, has also helped a great deal of course. Whether or not this will change should the country be welcomed by Europe is hard to say; though it is unlikely for the foreseeable future, and its thirteen percent rise in inquiries looks set to continue.
Portugal and Italy currently sit third and fourth in inquiry levels, which is in keeping with where they have consistently performed historically.
Portugal of course has always been the place to go to should Spain become too restrictive, but with real estate prices continuing to fall, it is becoming an attraction in its own right.
Last to mention, though far from least where real property investments are concerned is Italy. Always attractive to the more refined of investors, (and culture tourists), the surge here has been very much helped by increasing problems seen in the likes of Bulgaria, Croatia and other ‘newer’ countries trying to join the real real estate party.
The real estate market continues to devalue, with even luxury real estate falling in price, and perhaps making some real estate investments more affordable than was the case until the global credit crisis.
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