Insurance News Archive

European property investment 'much more affordable'

Written by Jonathan Walker

A combination of factors is making it easier and cheaper to invest in property elsewhere in the European Union, an expert has claimed.

Clare Nessling, the operations director at Conti, said that one major contributing factor to this trend in interest was the recent rate cut by the European Central Bank, which is further reinforcing the growing confidence in property as an investment on the continent.

The pound's increasing strength against the euro is also a major boost to those wanting to claw back value on such investments, according to Ms Nessling.

She added: "When you combine this with the lower property prices that we're now seeing in locations such as France, Spain and Portugal, it simply means that European property has become more affordable."

Her comments follow Knight Frank's Global House Price Index this week, which highlighted how property prices in Spain dropped by a further three per cent in the first quarter of this year, registering a 12-month drop of 6.8 per cent.

28 May 2009