London

The traditionally busy spring market has started late in the year. An early Easter coupled with the coldest March for 50 years meant new instructions were noticeably down on 2012. However with the arrival of good weather we are already noticing a change and seeing an influx of new instructions. This is essential as demand has consistently out stripped supply for the last 12 months plus. As a result prices have risen by 2.2% in the first quarter of 2013 with the biggest rises coming from the lower price ranges. These lower priced properties are typically purchased for investment purposes and confirms reports that property in prime central London is seen as a safe haven for global investors. This is the key driving force in prime central London property and coupled with very low interest rates, the fact that London is outside the Eurozone and a weak pound London is still an attractive long term investment.

South of France

The French Riviera is proving as attractive as ever to investors thanks to its sophisticated, chic atmosphere and stunning weather. There is an increased demand for the most prestigious properties and buyers are willing to pay very high prices. As well as the traditional European, Russian and Middle Eastern buyers we are now seeing the first buyers coming in from the Far East. In France, as in England and Wales, there were rumours of major changes to property taxation but the reality is far less severe than first feared and the vast majority of buyers will see no change.

 Dubai

The Dubai market continues to see recovery with new projects launches attracting investor interest with demand being propelled by international investors. Renewed optimism has led to investment with new development projects at Cityscape such as the Taj Mahal project in Falcon City. Research indicates that the market bottomed out in 2010, there was nil growth in 2011 and an annual increase of over 20% in 2012. A few key factors are significant in this growth, the most noteworthy being an increase in availability and affordability of finance in the region. Another major factor is Dubai’s status status as a safe zone amongst the current political unrest in the Arab region.

To discuss real estate opportunities in Dubai and the UAE please contact Atef Saad Eldin on +44 (0)20 7937 9070 / atef@croftinternational.com