A survey published by international realtors CBRE shows that an increasing number of investors are moving up the risk curve to achieve the best returns available to them. 70% of respondents favored Western Europe as an investment destination with Spain surging 9 places up CBRE‘s 2013 rankings to take second place to the UK as ‘Most Attractive Global Region for Investment’.
Following the survey there were a number of articles suggesting that international investors were now more tolerant to high-risk investments, with Spain being cited as an example. Upon closer inspection, the survey was only concentrated on a very small area of the international buying spectrum, in the main, Western Europe.
More significantly, the increase in popularity of Spanish property to Europeans could be interpreted as a shift back to tradition, as Spain as long been one of the most popular destinations for overseas property, and the hiatus of the last few years has been the departure from the norm rather than the other way around.
“Like most surveys, the results can be interpreted in numerous different ways,” said Dominic Pickering of Orb International. “Those wanting to promote Spain will highlight that Spain has increased in popularity, whereas those wishing to promote Germany will focus on the fact that 3 of the top 10 most popular cities are in that country.”
Meanwhile, elsewhere in the world, the South American market remains very strong with buyers wanting to move their funds to safer currencies. That includes the US, the UK, and Canada. Julio Barbosa of Barbosa Legal based in Miami commented that his firm has begun to see significantly increased demand from all over the South American continent. “We don’t sell property, but we act for many clients who are, and as a result, we are a really good barometer for which countries people are leaning towards for their investments. Safe havens, such as US Dollars, are still the most popular.”
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