According to the research, the key buyers are from Western Europe (60%) and from Russia (60%) which are the main interested buyers of luxury real estate in the European market, followed by Chinese (25%), Arabs (15%) and Americans. From Western Europeans are the British, Germans, Belgians, Dutch, and French who complete the top five.
The two major reasons why Investors buy luxury property are:
- For a holiday home or second home (48%)
- Investment goals looking for capital gain (27%) or leases (15%), with far fewer (only 6%) are prestige driven.
In addition, 65% of the respondents identified that the rental income has grown over the last few years from individuals buying European luxury real estate, selecting apartments with the city limits. The 10% of the purchases are made at the project development stage or in the early stages of construction and projections show that these will continue to grow in the future.
The research was conducted from two luxury real estate specialists in Europe, with the opinions from the real estate market experts - realtors, brokers, development companies, real estate, investors, etc. recording both the preference of prospective buyers and the new hotspots as they mentioned throughout Europe.