FEBRUARY 2012 |
www.opp.org.uk
NEWS Spain regains no.1 position By Sean Lightbown
US property fell in popularity with UK buyers over December as Spain regained its position as the most popular overseas destination for British investors, according to web portal
TheMoveChannel.com. Enquiries regarding American real
estate fell by 7.32% last month, dropping the country from fi rst to fourth place. However, Spain’s enquiry numbers dropped by only 0.18% to leapfrog to the top of the pile. France held onto third place with enquiries rising by 1.05%, while Portugal rose two places to second claiming 9.15% of total enquiries. Barbados and Morocco entered
the top ten for the fi rst time, while the United Arab Emirates jumped eight places to 12th. Dan Johnson, managing director of TheMoveChannel, said that the changes represented the volatility of the present market. “As 2011 ends, the fl uctuations in
INDUSTRY | 11
NEWS IN BRIEF Smart money on Oxford
Viva España | Spain has regained its crown as Britain’s top place to invest abroad
the Top 10 show the changing buyer demands in an uncertain market. Spain has always been a traditional choice for lifestyle buyers, as evidenced by the constant level of interest in the country. In fact, for the majority of last year, Spain was the most sought-after property destination on
TheMoveChannel.com, so its return to the top spot seems an appropriate end to the year.” Also,
“Barbados and Morocco are equally attractive lifestyle choices that are free of Eurozone anxiety, but France and Portugal’s strong performance in December is a reassuring sign for more familiar property markets. As the New Year begins, we shall see if the popularity of these European countries will be strong enough to weather the economic climate in 2012.”
Euro-cities ripe for foreign buyers
Emerging European cities will prove fertile ground for overseas property investors according to a new investment guide. “There are people still active in the
usual destinations such as Spain and Turkey, but city destinations are also coming up,” Louise Reynolds, director at independent consultancy Property Ventures, told OPP. Krakow, Warsaw, Istanbul and Limassol in particular stand out according to Property Ventures in its ‘Overseas Property Investment Guide: Which European City is worth investing
COMMISSION FIRST
Hamburg-based overseas property agency Engel & Völkers’ overall commission revenues topped €200 million for the fi rst time in 2011. The group’s shops “brought about a 19.4% rise in group commission turnover to €206.4 million,” the fi rm told OPP.
in for 2012?’ report. “Poland has been coming up quietly and is a success story,” Reynolds added. “It has benefi ted from EU funding and infrastructure support.” Regarding Turkey, Property Ventures
says: “In Istanbul, yields can be as high as 7%-10% and capital growth in excess of the national growth fi gure of 7%.” “It has attracted visitors interested in
history and culture throughout the ages, as it occupies a unique spot, where East meets West, where Europe meets Asia, divided only by the Bosphorous river.” And despite the bleak outlook for Cyprus as a whole, Reynolds is confi dent
HOUSTON RESEARCH
THE Houston Association of Realtors (HAR) is carrying out a survey into the area’s level of international activity. The study, “will look at what countries buyers are from, what types of homes they’re buying and how much they’re spending in the region,” says HAR.
that Limassol can provide resilience. “Cyprus is struggling due to its exposure to Greek debt,” Reynolds told OPP. “However Limassol ... has a very international fl avour.”
OXFORD in the UK is becoming an overseas property hotspot as foreign buyers snap up high-end real estate, with 40% of the city’s top homes bought by buyers from abroad. Hamptons International senior manager Mike Simkin said: “What we are seeing is prices increasing in London, and buyers looking further afi eld where there are still sustainable prices - like Oxford. Over the last 12 months there has been a signifi cant increase in international buyers.”
Cyprus sales slump
OVERSEAS property sales in Cyprus have hit a 10-year low and local experts do not expect a quick recovery. Figures released by the Department of Lands and Surveys show overseas property sales have slumped to levels last seen a decade ago. Yiannis Misirlis of agency group Imperio Properties exclusively told OPP: “The East (Ayia Napa, Larnaca) and the West (Paphos) of the island seem to be the areas most aff ected, although the same signs are starting to appear in Limassol and Nicosia (traditionally the best performing areas) too. The foreign investments seem to be more ‘reserved’ too.”
Sales surge in Portugal Istanbul | one to watch in 2012 NZ ON THE RISE
RESIDENTIAL property sales in New Zealand improved by a fi fth year-on- year in December, says the Real Estate Institute of New Zealand (REINZ). House sales leapt 20.1% in December to a total of 5,316 versus the same month in 2010.
PORTUGUESE agency Infi nito Real has taken on four new members of staff to cope with a surge in activity as “cheap prices and high-interest savings accounts” attract investors. ” Viewing rates in November and December mushroomed three-fold year-on-year and “appointments were up 10 times more than that,” Infi nito Real says. Managing director Stephen Anderson welcomed the upturn.
SWISS ON A ROLL
SWISS property is set for a good year according to a leading realtor in the country. Robert Ferfecki, managing director of Sotheby’s International Realty in Zurich, told OPP: “[Overheating areas] are very few and 90 to 95% of the market is fi ne.”
Page 1 |
Page 2 |
Page 3 |
Page 4 |
Page 5 |
Page 6 |
Page 7 |
Page 8 |
Page 9 |
Page 10 |
Page 11 |
Page 12 |
Page 13 |
Page 14 |
Page 15 |
Page 16 |
Page 17 |
Page 18 |
Page 19 |
Page 20 |
Page 21 |
Page 22 |
Page 23 |
Page 24 |
Page 25 |
Page 26 |
Page 27 |
Page 28 |
Page 29 |
Page 30 |
Page 31 |
Page 32 |
Page 33 |
Page 34 |
Page 35 |
Page 36 |
Page 37 |
Page 38 |
Page 39 |
Page 40 |
Page 41 |
Page 42 |
Page 43 |
Page 44 |
Page 45 |
Page 46 |
Page 47 |
Page 48 |
Page 49 |
Page 50 |
Page 51 |
Page 52 |
Page 53 |
Page 54 |
Page 55 |
Page 56 |
Page 57 |
Page 58 |
Page 59 |
Page 60 |
Page 61 |
Page 62 |
Page 63 |
Page 64 |
Page 65 |
Page 66 |
Page 67 |
Page 68 |
Page 69 |
Page 70 |
Page 71 |
Page 72