Global property market to surge by end of year
15 August 2011  14:08
Worldwide property markets will be surging by the end of the year as investor confidence returns according to global agency Jones Lang LaSalle.

The firm’s latest report said that economic turmoil hasn’t hindered the international housing markets, with a recovery continuing in the second quarter, oversupply disappearing and rents pushing up.

Jeremy Kelly from Jones Lang LaSalle’s global research team told OPP: “There is no doubt that investors are more cautious than three months ago as demand on both sides has been tempered by mounting concerns over sovereign debt and by the pace of future global economic expansion.”

“Nonetheless, we believe that barring significant economic setbacks, the current lull in real-estate sentiment is likely to be temporary and global markets will return to a more confident stride in the final months of 2011.

Direct global investment is also up by more than a half on last year. “In the second quarter, we saw direct global investment rise by 50 per cent from the $68.8 billion transacted in 2010 to $103.5 billion this year,” said Arthur de Haast, head of the International Capital Group at Jones Lang LaSalle. “This activity has supported continued growth in capital values on prime assets.”

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A recent survey has revealed that second / holiday homes are the most popular type of overseas property accommodation for Britons and Germans, and second only to hotels for French, Italian and Spanish holidaymakers when choosing where to stay.
According to a new Europe-wide survey commissioned by holiday rentals company www.HomeAway.co.uk and conducted by TNS Sofres, 39% of Brits and 32% of Germans cited holiday homes as their ideal accommodation when away, compared to 23% and 30% respectively who would choose a hotel. Size of Budget has no bearing on the matter says TNS Sofres.
In France, Spain and Italy holiday homes were the second most popular choice, with 19%, 25% and 20% respectively in each market opting for a holiday home, versus 39% in France and Spain and 35% in Italy who would choose a hotel.
The survey also found that the French, Spanish and Italians take more frequent holidays than Brits and Germans, but Brits and Germans spend more per head and also like to go overseas.
The French have the lowest budget for accommodation with an average of €34 per person per night, the Spanish come next with €48, followed by the Italians who budget on average €56 per person per night. Germans have the second highest budgets with€61 and the Brits come out as the top spenders with an average budget of €64 per person per night. The majority of Brits and Germans also expect to spend the same or more in 2011 than 2010, whereas most holidaymakers in France, Spain and Italy anticipate spending less.
In France, holiday homes are the preferred choice for the main holiday, but this is split between 6% who will rent somewhere and 29% who will stay in their own second homes.
The questions that provided this data were put together and paid for by www.HomeAway.co.uk says the company and use of the results should be credited accordingly.
Copy supplied by www.HomeAway.co.uk

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