European real estate is attracting more and more foreign buyers, according to a new report published by international real estate broker Tranio. The full report is available on Tranio.com.
Real estate agencies in Europe report massive inflows of international clients buying apartments, houses and commercial property.
Foreign direct investments from across the globe into property here have doubled this decade and grown 18 times since 1989 says the OECD, mostly thanks to the major overhaul of Europe’s political and economic landscape during the past two decades.
Heightened prosperity and simplified procedures for acquiring property are particularly important game changers for this market: the attractive commercial environment, residency rights for buyers and high living standards continue to reel in foreign direct investments and private wealth.
A CBRE report notes a stark rise in popularity with Middle Eastern buyers who are channeling 73% of outbound investments into European commercial property. Concomitantly, Knight Frank’s ‘The Wealth Report 2015’ shows that Europe has the most Ultra High Net Worth Individuals in the world: 60,565 UHNWI hold $6.4 trillion in cumulative capital in Europe. Their numbers are expected to rise by 25% over the next ten years pushing demand for prime real estate.
The Tranio study also shows that EU citizens are just as interested in European property. George Kachmazov, managing partner at Tranio, notes: "the number of Europeans buying real estate in neighbouring countries is several times that of the Russians and Chinese together. […] Tranio used to target Russian buyers but now we see potential in serving Europeans too."
Get the full report here. Tranio is an international real estate broker with a large property catalogue. We help our clients to buy and lease property directly from the best foreign agencies and developers without any additional mark-ups or unnecessary intermediaries. We provide support and advice at all stages of selecting and buying a property. Besides that, Tranio is among the top three most-cited Russian media in the real estate and development sector. We publish daily news, high quality analysis on foreign realty, expert advice, and notes on laws and procedures related to buying and leasing properties abroad so that our readers can make their property decisions with confidence.
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