FRACTIONAL PROPERTY TO ‘OUTSELL FREEHOLD WITHIN FIVE YEARS’

February 4, 2009 Admin

Fractional property will take over from freehold sales in Europe within five years, according to industry specialists, as poor economic conditions leave its legacy on the world’s mid-range buyer market. Fractional ownership was already growing in prominence with global buyers before the downturn, according to data from Mintel and the world’s two biggest fractional consultancies, the Ragatz Association and Northcourse Ltd, which revealed that in 2007 the fractional ownership industry was worth US$1.98bn, (20% up on 2006) excluding destination clubs which registered a further $2bn in sales. In 2008, the market is predicted to be worth $1.2bn alone in … Continue reading FRACTIONAL PROPERTY TO ‘OUTSELL FREEHOLD WITHIN FIVE YEARS’

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WEAK POUND ATTRACTS FOREIGN BUYERS TO THE UK

January 14, 2009January 14, 2009 Admin

As UK house prices fall by over 20% and the Pound crashes to record lows against the Euro, UK-based estate agents are reporting rising numbers of international buyers snapping up bargain properties, particularly in London. “European buyers, especially Italians, are piling in to London’s property market and supporting prices locally,” said Peter Rollings, MD of estate agency Marsh & Parsons. “As far as they’re concerned, there’s never been a better time to buy. While the British economy is faltering, the Euro is getting stronger – and this is the result. This week we’ve seen two Italian couples competing … Continue reading WEAK POUND ATTRACTS FOREIGN BUYERS TO THE UK