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SG European hotspots attracting savvy home buyers

Property Here - Thursday, May 09, 2013

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By Romesh Navaratnarajah:

While most European property markets are still recovering from the last housing crash, some are performing much better than their counterparts.

For instance, Sardinia is expected to perform well this year. In fact, property prices on the Mediterranean island’s Romazzino Bay (pictured) grew by 200 percent in just one year. The area is now expected to become one of the continent’s top residential locations, according to website propertyabroad.com.

According to market experts, the allure lies in its unique luxury branding available in a small number of prime properties. Even with scarce supply and low volumes, the market remains stable and desirable for residential investors.

Other popular locations in Europe are Avenue d’Ostende in Monaco, London, St. Moritz in Switzerland, Cannes’ La Croissette and St. Jean-Cap-Ferrat’s Chemin de St. Hospice in France.

While these locations offer very few prime homes as well, demand from savvy investors is comparatively high. As such, they do not mind paying large amounts for their “trophy home”. Moving forward, prices are expected to keep soaring and break more records.

In Geneva, prices have risen by about 40 percent, while St. Moritz and London have increased more than 30 percent – mainly due to strong currency and inflation fears.

The advice from experts is that these hotspots have limited prime properties and several investors have already entered the market. Those who bought homes can expect to achieve large gains by putting them on the market.



Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email romesh@allproperty.com.sg