Foreign real estate investments in thriving markets.
We will continue our exploration of European real estate with the wonderful country of Spain. If you missed the first four countries on our list, read the first part of this two-part series now.
For more information on buying international real estate, contact Alpen Partners below.
With a warm climate and an increased effort by the government, encouraging foreign tourism and residency, buying property in Spain has become quite popular. In fact, Spain receives more foreign income from tourism than any other European country. There are about 2.8 million legal foreign residents in the country and the tourism numbers continue to increase. More than one million foreigners are expected to reside on the Spanish coast in the next 6 years, as predicted by the Spanish Ministry of Tourism.
After the world economic crisis, the property market of Spain continued to fall until 2013 when the decline slowed. Today, Spanish real estate is viewed as a strong investment, especially because of its popularity among foreign investors. This interest has many predicting steady price growth over the years. In 2015, property transactions grew 11%.
Spanish economic growth is forecasted to continue growing according to the European Commission.
France does not lack the European splendor that many non-Europeans are seeking when looking for offshore property. Paris, Marseille, Lyon, and many more French destinations offer wonderful real estate options for investors or those looking to live in the country.
The French market has experienced a slight incline over the past couple years after major dips in 2009 and 2013. Overall, the market is strong and country prides itself in a pool of desirable property options.
There are no restrictions or special requirements for non-citizens looking to buy property, although the process can prove to be more difficult as a foreigner. Working with a real estate agent can ease these difficulties.
Being an incredibly small but wealthy nation, Switzerland is an optimal place to purchase real estate. The small size of the country puts a higher premium on real estate than would exist in a more sprawling nation. In addition, the relatively high wealth of the citizenry means that it will not be hard to find clients to rent out one’s Swiss real estate.
For most hopeful buyers, the Swiss housing prices are simply out of reach, even with current low interest rates. With the combination of high prices and strict mortgage requirements, the low interest rates mean nothing.
Foreign buyers come from all over to take advantage of Swiss real estate such as other European Union countries or the United States, Canada, or Russia. Though there are many buyers from outside counties, 85% of home buyers are Swiss.
There are no restrictions for EU citizens to buy property but a non-EU citizen must obtain a permanent residence status permit to real estate.
Experts believe that now is the time for foreign investors to use the power of their native currency to make a real estate purchase in the UK. London is the biggest city where investors are buying property, which is surprising to some due to high property prices. London is a thriving hub with reliable infrastructure, established business and one of the most dynamic cities in the world.
The real estate market in the UK is established an mature and has various kinds of investment properties. In 2018, 21.1% of investors say the UK is their preferred investment market, almost double the 11.9% that reported the same thing just a year prior.
Major Irish cities, like Dublin, are attracting investors from all over the world, especially for those looking for cash flow through renting out properties.
Property prices in Ireland continue to rise as demand rises and supply remains short. In 2013, the nation reached their lowest price point but have risen nearly 55% since. Prices are predicted to continue rising over the next three years, at which point, supply is expected to catch up to demand in 2021.
The small nation of Monaco is regarded as one of the most expensive destinations in the world and offers a strong and extensive banking infrastructure. Nearly 70% of the assets in Monaco are from non-resident funds, proving how much wealthy investors trust the country’s banking system.
Monaco is home to a unique political and economic environment that can be great for banking and wealth management. Large private banks offer the usual cash counter, safety deposit box, direct deposit, and other usual banking services. Leading banks also offer investment services like multi currency deposit accounts, equity and fixed income trading, precious metals, foreign exchange, and commodity trading platforms. Many also provide managed investment portfolio services.
Your wealth is important. If you are serious about your life goals, financial planning and investments are probably important to you. Financial planning can involve many steps from tax optimization to asset protection. With the help of financial planning, you will be able to predict where you will be in the years to come by evaluating where you are currently, what sources of income you plan to have in the future, investments you plan to make, and your retirement plans.
Alpen Partners Wealth Management International AG, the sister company of Alpen Partners AG, is now a registered investment advisor with the U.S. Securities and Exchange Commission (SEC). Together with our partner Swiss private banks, our company can now offer the full Swiss private banking experience to American clients, both resident and non-resident.
Making an offshore investment is just the first step. Once you get a taste of what other countries have to offer, you will want to make a move in no time. Alpen Partners is advising its clients on expatriation issues. In a world of increasing tax pressure and professional mobility, expatriation has become one of the most efficient tools for asset protection and estate planning.
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