The Overseas property market in 2010
Posted by jamesdearsley on April 27, 2010
I was very recently lucky enough to be a panelist at “The Place in the Sun” exhibition at Earls Court in London. It made me really think about the market for 2010 as it was such a positive exhibition. The stands were busy, the seminars that I was a part of were very busy and generally people seemed very upbeat. So what does this mean for 2010?
One thing that I noticed was the interest in the “old and established” markets and Spain was undoutably number one on the hit list. There was also an interesting amount of interest in France, Cyprus and Italy as well which just shows that the proven markets have made a comeback.
I was also finding that the market place was very much orientated towards two markets; permanent move or just simple investment on a 5 year scale. The former was very apparent in the seminas I was taking part in and essentially people were fed up with the UK and wanted to move abroad. The mentality of “we have been suffering a recession for two years now and so want to see it out in the sun” was the case. The other market was very interesting. Clients were approaching it very much more like a business than we have seen in the past. The astute were looking at the resale and repossession market and realising that good deals could be made.
All in all a very interesting exhibition, one that reestablished the old firm as the favourites to capitalise in the overeseas property world for 2010. What with this and the gradual recovery of Sterling against the Euro, 2010 could be a very interesting year.