Le Mag de l'investissement immobilier

Spectacular turnaround in high end property market

Published on 11/26/2015

How renewed confidence amongst buyers has boosted the high-end, European property market.

A report into the European property market's performance in the first half of 2015 has revealed that a combination of low prices and the banks’ new willingness to offer competitive rates on mortgages has led to a renewed confidence amongst property buyers. The report, prepared by luxury property real estate broker Lucas Fox, shows that the circumstances have attracted increasing numbers of buyers to the European property market. Investment in Spain has experienced a ‘spectacular’ turnaround, with many of the major cities seeing heated competition between international buyers and local investors in the purchase of the most luxurious and high end properties in prime locations.

Local enquiries boosted by international interest

The findings declare that Barcelona is predicted to experience the most significant recovery in the 12 months in question, particularly when considering the last seven years of data. With prices gradually stabilising over the past 18 months, the prime residential market has also benefited from increased international interest in turnkey properties. This has forced an increase in demand and, alongside the renewed confidence of local buyers, reinvigorated the market. Lucas Fox noted that, in previous years, local buyers accounted for only 20% of enquiries whereas the latest figures show a healthy increase to 50%, and an exponential improvement in the number of local transactions.

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