As the 400th anniversary of the death of William Shakespeare is celebrated this year, we want to share this special comment from Nick Churton at Robert Paul Properties’ London office about how the Bard of Avon’s genius extended beyond words to real estate investment…
“William Shakespeare, who died 400 years ago last month, knew a thing or two about plots. And not just plots for his plays; he also developed an eye for plots of land. Continue reading
As the election in the US captures daily headlines, so does Britain’s referendum on European Union membership (or “Brexit” as it’s known) set for June 23rd continues as the their central news item. Obviously both have implications on the housing market, so we share this timely and thoughtful market comment from Nick Churton at Robert Paul Properties’ London office on real estate purchase and sale at a time of national and international uncertainty… Continue reading
Most of our news channels are focused on the presidential election, but across the pond in the UK they face a referendum in June as to whether they stay in the European Union or not. Needless to say it could have implications on the housing market amongst everything else so we wanted to share this Market Comment from Nick Churton of Robert Paul Properties’ London office with you…
Nick Churton of Robert Paul Properties’ London office comments on the international real estate market and offers some encouraging words for sellers in North America.
Welcome to 2016 and a new era in international real estate. It promises to be an eventful packed year.
Despite political union, Europe remains a stark continent of huge contrast – north and south,
left and right, east and west. The relative wealth and power of the northern nations seem at
odds with the hardship and austerity currently experienced by those in the south. It seems you
can have a warm climate or a warm economy but not both. The impact of middle-eastern
turmoil, the resulting migration of millions of people and terrorist atrocities in cities such as
Paris are affecting real estate buying decisions across mainland Europe in a way not seen since
the 2008 credit crisis. In the UK – which is readying itself for a referendum later this year to
determine if it stays in or heads out of the European Union forever – has also imposed higher
real estate taxation making investment less attractive to buyers from home and abroad and
adding to the malaise. Nevertheless house prices in the UK have risen ten per cent over 2015,
mainly due to low inventory.
With the economic slowdown particularly in China and South America, and the slump in
worldwide oil prices the appetite for prime city-centre property has been blunted in many places globally for the time being at least.
There is plenty of worrying news to concern international real estate buyers. But in any
financial cycle there is usually at least one world region which offers investors a safe and
attractive place to live and to enjoy the benefits of a secure culture. Right now that is the US.
With the economy there steadily improving and pockets of exciting opportunity across the
nation, not to mention many areas of warmth in climate and welcome, the US offers real estate
buyers the safe haven they crave. No market likes uncertainty and the upcoming general
election in the US later this year provides plenty of scope for some of that. This will naturally
intrigue overseas observers who no doubt will have concerns. But despite this North America
still provides many exciting opportunities. From a lengthening list of key city investment
locations headed by New York to the foremost leisure and vacation areas the US and Canada
should once again be the country of real estate opportunity in 2016.