Perhaps when considering the purchase of an overseas property, the majority of us are still thinking about relaxing by our own pool, with a cocktail in hand, a short stroll from the beach.
March 27, 2007 (Press Release) --
Perhaps when considering the purchase of an overseas property, the majority of us are still thinking about relaxing by our own pool, with a cocktail in hand, a short stroll from the beach.
However, the growth in some newer markets has seen a rise in the number of Britons forking out for city apartments rather than luxury villas - but can a clever investor still reap rewards by catering to the luxury market?
Perhaps so, if Charlie Lambourn Brown, the exhibitions marketing manager for MRI Overseas Property, is to be believed. In a recent interview, the expert said that luxurious properties have proved popular not only in Europe, but around the globe.
" We certainly have seen evidence of the popularity of luxury properties right across the world," he remarked. "The reason for this is that luxury properties have the longevity to appeal to the secondary and resale markets in the future."
So it appears that luxury properties have the appeal to sell and make a profit - but what is it about these higher-end palatial residences that keeps the buyers anxious to fork out their hard-earned cash when smaller, cheaper properties may also be available?
Well, according to Rhiannon Williamson, the co-owner of market analyst Amberlamb and a prolific commentator on the subject of homes overseas, coastal villas are still the "dream property" for the majority of investors. This is particularly true of individuals looking for an escape to the sun, rather than an investment opportunity.
"City properties are far less popular with those looking for a holiday home abroad simply because the dream of a home in the sun is not generally associated with one in a location where there is congestion, crime, pollution etc," explained Ms Williamson.
If this is the case, where are all of these buyers coming from, with wads of cash and a strong desire to pick up a place in the sun? Well, a piece of research conducted by PURE International found that 51 per cent of the City's top earners were planning to splash the cash and purchase an overseas home, with mature markets such as France seen as the favourite spots.
Indeed, the figures indicated that as much as £1.5 billion could make its way from the city into foreign markets in 2007, with these potential investors sitting on a collective £8.8 billion of bonus cash this year. With 41 per cent of these members of the financial elite planning to splash out on a beach property, it may be the case that a luxury home overseas is the safe choice for any investors looking to safeguard their cash and eliminate the risk factor.
However, the growth in some newer markets has seen a rise in the number of Britons forking out for city apartments rather than luxury villas - but can a clever investor still reap rewards by catering to the luxury market?
Perhaps so, if Charlie Lambourn Brown, the exhibitions marketing manager for MRI Overseas Property, is to be believed. In a recent interview, the expert said that luxurious properties have proved popular not only in Europe, but around the globe.
" We certainly have seen evidence of the popularity of luxury properties right across the world," he remarked. "The reason for this is that luxury properties have the longevity to appeal to the secondary and resale markets in the future."
So it appears that luxury properties have the appeal to sell and make a profit - but what is it about these higher-end palatial residences that keeps the buyers anxious to fork out their hard-earned cash when smaller, cheaper properties may also be available?
Well, according to Rhiannon Williamson, the co-owner of market analyst Amberlamb and a prolific commentator on the subject of homes overseas, coastal villas are still the "dream property" for the majority of investors. This is particularly true of individuals looking for an escape to the sun, rather than an investment opportunity.
"City properties are far less popular with those looking for a holiday home abroad simply because the dream of a home in the sun is not generally associated with one in a location where there is congestion, crime, pollution etc," explained Ms Williamson.
If this is the case, where are all of these buyers coming from, with wads of cash and a strong desire to pick up a place in the sun? Well, a piece of research conducted by PURE International found that 51 per cent of the City's top earners were planning to splash the cash and purchase an overseas home, with mature markets such as France seen as the favourite spots.
Indeed, the figures indicated that as much as £1.5 billion could make its way from the city into foreign markets in 2007, with these potential investors sitting on a collective £8.8 billion of bonus cash this year. With 41 per cent of these members of the financial elite planning to splash out on a beach property, it may be the case that a luxury home overseas is the safe choice for any investors looking to safeguard their cash and eliminate the risk factor.
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