According to Swedish property portal, BoVision, demand for overseas property is on the rise – specifically in Spain and France. Last month, there were more than 13,000 foreign homes listed for sale on BoVision, which is more than 40% that of a year ago.
BoVision, which has a dedicated overseas property section, says it is the only Swedish property site that allows foreign registered brokers to advertise. CEO, Peter Rydas, says, “In Europe, there is still so much to buy that would otherwise never appear on the Swedish market.”
The strongest demand from Swedish buyers are for popular areas of Spain and France, where property prices are starting to rise, including the Riviera and south coast, says the website.
They most commonly search for a two-bed home with a large terrace, within walking distance of a beach, restaurants and shops, says Annika Silver, of Marbella, Spain-based agency, Silver Estates, who has more than 10 years’ experience of selling Spanish and French property.
The recession and high unemployment has contributed to Spain’s falling home prices, but Annika Silver believes they are on their way up now and some brokers are predicting that within five years, they will reach an “all time high”.
Buyers are also looking on BoVision at other Mediterranean countries, such as Portugal and Greece, where prices have fallen and even in London, UK, where prices in fashionable areas like Mayfair and Knightsbridge have been driven higher by foreign buyers. Listings of property in the United States, where prices are still rising, are high.
Over the last few months, searches for property in popular mountain resorts have been strong and sales to Norwegian buyers have increased along with interest from buyers in Denmark and Holland looking for ski properties in Branäsleden in Värmland, Åre, and other sought-after areas. The most popular price range is around 3million kroner (US$465,000) and most buyers want two-bed cottage or apartment with a, living room and kitchen, says BoVision.
The above article was written by Adrian Bishop, Editor, OPP Connect and can be viewed in its entirety by clicking here.