Savills Quinta Properties in the UK Daily Mail – premier resorts a safe overseas betBy Kerstin Buechner Dias • Jan 25th, 2011 • Category: Property News & Info
We are delighted to be quoted in the UK Daily Mail in an article by Mark Hughes-Morgan regarding the 2011 forecast for buyers of overseas property. Please see below for an exciting excerpt from the article.
Daily Mail: Only the best will do — that’s the word as far as overseas property is concerned in 2011.
So says estate agent Hamptons International in its latest overseas buyers forecast, anticipating another decidedly mixed year.
Of course, if you have a few million to spare, there will be no shortage of pricey places in which to invest your money….
Switzerland is thriving thanks to people attracted by its low tax regime competing for scarce stock.
‘Scandinavia has done well, but the British do not buy there much,’ says Rubinsohn.
Property in holiday destinations looks most vulnerable, with values more likely to increase in big cities such as Paris and Berlin.
‘For the most part, buyers are going to stick with what they know — nice, safe, secure markets such as the Alps, the Cote d’Azur, and the best-known areas of Italy such as Tuscany,’ says Andrew Hawkins, of Chesterton Humberts International.
‘Where people used to be fixated on capital uplift, the main criteria now is stability, and an exit strategy is much more important,’ says James Price, of Knight Frank International.
Charles Weston Baker, head of Savills International, agrees. ‘We have seen a return to the old favourites, Barbados and Antigua, and particularly high-quality golf resorts such as Quinta do Lago in the Algarve, which we expect to continue.’
A recent villa sale at Quinta do Lago at £3 million was ‘at 2008-2009 levels. The good stuff is still where it was’.
With the euro weakening slightly against sterling, it has helped encourage British buyers to look around, and with the pressure on the euro in 2011, it will keep people interested.