Vendome International Property (VIP), an international property consultancy company in Europe, highlighted the high return of investments in overseas real estate at the International Property Show held in Dubai from 11 to 13 April. The company offers nationals and expats properties in France, Spain, Portugal, Germany, the UK and iconic cities around the world.
VIP general manager Marie Mahmouch said: “We have seen an increase in property sales by about 50 percent from GCC investors. The market continuously evolves due to a lot of factors. GCC nationals like Qataris and Emiratis are now wiser as they continue to invest in real estate to save the rental expenditure and grow their property portfolio while they send their children to various universities in Europe.”
Due to a weaker euro value against UAE dirhams, locals and expats are also considering this time as a good opportunity to invest in outbound properties. Moreover, big airline companies provide support to travelers to boost the local economy by having direct flights to major European cities giving locals and expats to spend times with their families and scout for properties abroad.
Attractive investment destination
According to France Diplomatie, for Qatari investments, France remains particularly attractive. The Qatar Investment Authority invests mostly in prestige purchases, especially in property and luxury hotels, which constitute to a long-term portfolio and enhancement of international image of the country.
VIP reported that in 2015 the company handed over 220 apartments and villas sold in 2013-2014. About 150 properties are still under construction. 250 properties are expected to be completed by 2017 for those who have bought in 2014-2015.
The company has announced upcoming projects in France, Spain, Portugal, Germany and Oman to give clients, especially GCC residents, options to optimise their investments.