The global economic downturn that held European property investment at bay for the past several years is changing in many of the favorite EU holiday-home markets, according to The Telegraph’s Nick Harding.
“A buoyant housing market and stronger pound, combined with stagnant prices and cheap mortgages in the eurozone, is fuelling a resurgence in Britons buying overseas property with agents and mortgage providers reporting a steep increase in inquiries,” Harding wrote in February 2015. “If managed properly, such a property can provide rental income as well as a base for regular holidays.”
It’s not just Britons and the traditional markets of Spain, France and Italy that loom large in terms of investment. Interest in post-bailout Greek real estate has surged among foreign buyers, Carla Passino writes at Forbes, with investors looking for bargains as the country continues to struggle with its economy.
She quotes Dimitris Melachroinos, CEO of Spitogatos.gr, a leading Greek real estate website, as saying “more and more international users seem to share the idea that now is the right time to look for a property in Greece.”
Searches from Russian visitors are up 244 percent; other countries with large search increases include Italy, France and Turkey as well as Australia, Canada and the United States.
The benefits of investing in European property, even during economic downturns, include a tourism market that can be counted on to bring in returns, and golden visas. While the terms of obtaining residency permits vary from country to country, in Britain, for instance, immigration rules are such that wealthy foreigners can settle there as long as they invest a minimum of $3 million in the economy, Mark Scott of The New York Times writes.
“Residency programs have sprouted across the European Union to give wealthy investors access to the 28-country bloc for as little as 250,000 euros, or $280,000, for instance, in Latvia,” Scott writes. “Some of Europe’s hardest-hit economies, including Greece and Cyprus, offer the programs — often called golden visas. They are aimed specifically at wealthy people from China, Russia and elsewhere willing to pay top dollar for the right to live, and sometimes work, in Europe.”
If you’re thinking of making an investment abroad, research is your friend — and you’ll want to ensure that you’ve got just the right people to advise you. To that end, we’ve compiled this list of 50 European property investment experts on Twitter:
IMPRO, London-based specialist property investment and asset enhancement advice: @PaulJGale
Lee Glennan, UK-based investment planning for private families, companies, trusts and charities: @GWMFinancial
Overseas Guides Company, a UK-based information resource for people buying property abroad: @OverseasGuides
McLeod & Aitken Leeds, international cost consultancy across all sectors: @McleodAitkenL
Birchall Blackburn Law, UK solicitors specializing in the purchase of residential properties overseas: @BBalwaysthere
Really Moving, a UK-based moving and conveyancing company, obtains quotes for international house removals, and has advice on international moves: @reallymoving
BNP Paribas Real Estate, global real estate provider: @BNPPRE_UK
Adrien Franc, property investment in Europe: @adri1franc
AXA Real Estate, global real estate management: @AXA_RealEstate
JLL, worldwide financial and professional services firm: @JLL
Basil Demeroutis, London-based property investor: @Basil_FORE
TH Real Estate, global real estate investment management company: @THRealEstate14
Schroders, London-based global asset management company exclusively for the UK: @Schroders
Knight Knox, a worldwide property investment group offering an extensive range of properties: @KnightKnox
The Agency RE, full-service luxury real estate brokerage and lifestyle company representing clients worldwide: @TheAgencyRE
Cheray Real Estate is a luxury firm for global property investing: @estateluxury
Cushman & Wakefield, global commercial property & real estate consultants: @CushWake
Christopher Ludeman, Global President of Capital Markets for CBRE: @ChrisLudeman
Patron Capital, Europe-wide investment advisor and real estate manager: @PatronCapital
France House Hunt, French real estate company with English-speaking agents: @FranceHouseHunt
E&V Malta, real estate agents in Malta: @EVMalta
My-French-House.com, a real estate agency with nationwide listings for France: @MYFRENCHHOUSE
Cote d’Azur SIR, of Sotheby’s International Realty, with luxury properties for sale on the French Riviera: @CoteDAzurSIR
Luxury Marbella Homes, real estate agency representing properties in the south of Spain: @Homes_Marbella
Properties in Cyprus, real estate agency in Cyprus: @infoefthimiou
VERTICA Properties, real estate investment company with opportunities in the UK, Turkey, Cyprus and elsewhere: @VERTICA_P
Just Do Property, a UK property development and investment site run by husband and wife team Julie and Alec Hanson: @JustDoProperty
Douglas and Gordon, full-service independent estate agency in London: @Douglas_Gordon
WAEllis, boutique property specialists working in London’s prime residential areas: @waellis
Christie’s Real Estate, an international luxury real estate network with offices around the world: @ChristiesHomes
Real Estate Alliance, Irish network of real estate professionals: @REAIreland
Lisney, independent Irish commercial and residential real estate agency: @LisneyIreland
Euan Bremner, UK real estate lawyer: @EuanBremner
Attika International, real estate agency serving the French Riviera: @attikaproperty
Leapfrog Properties, French real estate company with a bi-lingual feed: @LeapfrogPropert
Allsop Ireland, national auctions in Ireland for commercial and residential properties: @AllsopIreland
EstateNetFrance.com, luxury real estate on the French Riviera: @EstateNetFrance
Fine&Country France, part of a global network that specializes in luxury residential property marketing: @FandCFrance
EuroFrance, a real estate agency with listings in the South of France: @Euro_France
Bill Gottfried, partner at Gottfried International Estates, supporting real estate investment in the south of France: @FRANCELUXURY
Live & Invest Overseas, founded by Kathleen Peddicord, who has covered living, retirement, investment and doing business overseas for almost 30 years: @LiveandInvest
Select Estate, property and real estate sales: @SelectEstate
IM Real Estate, full-service real estate law firm tweeting about the UK property market: @IrwinMitchellRE
Palmer Capital, a London-based real estate fund manager with £500m in funds under management across Europe & Asia: @Palmer_Capital
GBR Phoenix Beard, independent property consultants based in the UK: @GBRPB
Luxury Real Estate, lists luxury homes for sale in the US, Europe and Asia, with real estate information, news and resources: @luxury_homes_
Royal London AM, asset manager that offers a property fund for investors with more than £100,000 to invest, @RLAM_UK
Alain Pinel Realtors, located in California, has global networks for clients searching for properties around the world: @AlainPinel
We Sell BMV, an investment specialist sourcing and selling ‘below market value’ UK property: @WeSellBMV
Tal Orly, London investor with experience in development of both residential and commercial sectors, founder Symbia Realty Portfolio, CEO of Cogress Ltd: @Tal_OrlyCEO
All the best for your real estate plans!
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