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FEBR UARY 2010
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www.opp.org.uk Feature archive www.opp.org.uk/issues.asp
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41
INDUSTR
How vital is What other What sales Can Germans
it to target factors apart channels work ever replace
German buyers from quality and best for German Brits in Spain?
in their own value are buyers? It’s a bit
Y
language? important for Defi nitely the optimistic to
A lot of them German buyers? Internet. My expect them to
speak English We had the background take the strain
but they start fi rst national is in advertis- from where
looking online green party, ing; so when I the British left
from home and go to their own lan- and there is a strong environmental started my business we had a media off . You have to remember that the
guage search engine fi rst. That’s going tradition in Germany. The Green party, campaign and a marketing campaign property boom and the credit boom
to point them towards web sites that I think, we were fi rst in Europe so it and all the rest of it, but I have to say it meant it wasn’t even a normal market
PEOPLE
have German language content, so get is a kind of German tradition. They’re has really shifted from print completely so you can’t expect the Germans to
some information up in German even increasingly thinking about the need to over to the Web. The German press step into those shoes when they were
if it’s a few paragraphs. After failing fl y and if a house or development can is incredibly expensive anyway, and too big for the British anyway. And
to fi nd someone who has done that demonstrate that it has a small carbon although I’ll use a couple of specialty it’s not like the German economy is
they may come to you, but you are footprint it defi nitely makes it easier for titles in the US, in Europe I’m not using booming. What they haven’t had is a
defi nitely in the cheap seats. a German to decide to buy. print at all any more. weak pound.
Janet Choynowski, Dr Johannes Bohmann, Tobias Kaiser, Mark Stucklin,
Immobel Bellevue magazine Kaiser Associates Spanish Property Insight
DESTINA
language portal Immobel, lists property Engel & Völkers Southwest show that minded, only now they’re more so.” Overall, there were 810,000
in the US and France, and in Florida to June last year not only did German In practice, that means Germans are HNWI in Germany at the
she says most Germans are tending to buyers massively outnumber the Brits unlikely to suddenly develop a taste start of last year, against TION
buy in the $350,000 to $500,000 range. (48% of the total against 17%) they for more adventurous markets like 97,000 in Russia and
At the Croatian Real Estate Agents also spent much more – an average Thailand – it may already be in their top 362,000 in UK.
Association, meanwhile, president of €880,000 against British buyers’ ten, according to tourism consultants
Dubravko Ranilovic says interest is €450,000. GIATA, but it has always been less Infante, director at consultants
pitched just a little lower, at around successful at persuading investors in. Howarth HTL.
€200,000 to €250,000. Darren Edwards Big spenders It also means they want to be able As Viereck explains, it goes
at Network Turkey says the Germans With German interest at every level, to see a fi nished product. Despite back to the fact they are lifestyle
tend to spend around €200,000 – in there maybe some good scope right being German, Dürr, CEO of the buyers. “If you’re buying for
BUSINESS
a market where the average sale to a at the top end. Miguel Abreu, CEO of Resort Sea Garden Residences in yourself, you want to have it at a
UK buyer is from €60,000 to €70,000. developer Quintas de Obidos on the Kotor, Montenegro, said that Germans certain standard.” Yet he reckons
In fact, even in Spain, the fi gures from Silver Coast in Portugal has had success only account for about 5% of sales many developers are still failing
with Germans for villas with an average for the project. “It’s nearly impossible to provide what’s needed. “Now
German most searched
price of €1.6 million, and the fi gures to sell off plan to German buyers,” he you have to actually ask what the
destinations
for individual wealth in Germany are says. “They want something they can customer needs,” he says. Germans
Top international searches
encouraging. The Capgemini and Merill touch.” are obsessed with quality, from the
by country at
www.immobilienscout24.de
Lynch Global Wealth Management Likewise, even in key markets like best branded appliances to building
during December 2009:
report 2009 showed the population Spain they are looking only in fi rmly materials and techniques that will
of high net worth individuals (HNWI) established locations. “Germans are stand the test of time – as they plan
DE
Country Requests
– those with investable assets of $1 not interested in moving into inland to use it forever. VEL
million or more excluding primary Spain,” says Mark Stucklin, who runs
OPER
Spain 163,157 residences – holding up strongly in the Spanish Property Insight website. No substitute for Brits
Austria 81,482
Germany, with numbers shrinking just “Go to the inland golf resorts and Getting that mix right won’t turn
2.7%, against 25.3% in the UK during you can forget it.” It’s one of the the Germans into the British buyers
USA 70,588
2008. Overall, there were 810,000 HNWI reasons why the idea of the Germans of the golden era of the last decade,
Italy 65,256
in Germany at the start of last year, ‘replacing’ the British buyer in Spain though. After all, Iyilikci estimates
against 97,000 in Russia and 362,000 is unrealistic (the other being that it’s that Germans own several hundred
France 39,222
in UK. likely there are still far less of them thousand, but less than a million,
Turkey 24,412 If anything, the recession has overall when you consider that, even overseas properties worldwide,
M
Switzerland 23,758
reinforced traditional German in 2008, British buyers accounted while at one time the British were ARKE
characteristics, and chief among these for 58% of all European purchases of estimated to own 600,000 in Spain
Sweden 17,983
is their caution. “Very careful,” says property in Spain, against 7.7% for alone. But, they’re no less welcome
TING
Croatia 17,713
Roland Dürr, a developer with projects the Germans, according to the offi cial for that, and in the current climate
in both Montenegro and Germany; government fi gures). the consistency of German demand
Portugal 12,529
“much more conservative than the Finally, it means that, as ever, is far more useful. Developers and
Canada 11,210
British,” adds Ranilovic, while Bohmann Germans are looking for quality. agents just need to learn to make
says: “They’ve always been security “They’re very focused on it,” says Luis the most of it .
FEB10_OPP_MAG.indd 41 28/01/2010 15:21
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