Eurozone Property Increasingly Popular With the British
Moscow, Russian Federation, August 27, 2015 (Newswire.com) - Is Europe about to see a new wave of British buyers hitting the shores of Spain and France? Research by Tranio, an international real estate broker, suggests that UK citizens are increasingly interested in Eurozone property, particularly along the Mediterranean, and for the right reasons too.
– A strong currency. The pound sterling gained 10% against the euro in 2014 amid Eurozone stagnation and the Greek debt crisis. So while the single currency union is struggling to find its feet, Britons are finding great value-for-money deals on property.
– Cheaper property. Real estate prices across southern Europe have been on a downward slope since 2008, in certain places shedding 20–40% of their pre-crisis value. Finally prices are starting to climb, promising growth and reliability of investment while at home Britain’s property prices continue their steep rise.
– Higher incomes. Economic recovery in 2014 with 3% GDP growth has spurred on income and disposable household income growth, giving UK citizens more freedom and confidence in their financial security.
– Low interest. Interest rates in the EU and UK have reached all-time lows. With European interest set to fall until at least 2017, variable and fixed mortgage rates are more attractive and loans even more affordable; yet another encouraging incentive for the British who plan to buy property in Europe on credit.
Political factors and economic predictions show that this trend may be sustained for the coming years.
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Tranio is an international real estate broker with a large property catalogue working with agencies and developers across the world to help clients buy and lease property at no extra cost. Our editorial office publishes up-to-date news, reports and forecasts for foreign realty and has been cited by major business media players such as Bloomberg, Vedomosti, Kommersant, RBC and more.
