Assessing Property Markets about Transferring Money

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Since the recession in 2008, house prices in the UK have slumped and property prices are continuing to fall. With financial worry maintaining in the UK, people are starting to consider if they would be better off buying property elsewhere in Europe. Germany, Spain, Italy and France are the most popular destinations in Europe for expats, so we thought it would be a good idea to run the rule over their respective property markets.

Prior to 2008, the French property market saw significant prise rises for almost a decade. Since the recession hit the world, France were also inhibited, with house prices on existing homes decreasing by as much as 10%.

Though the recession hit Italy slightly before the rest of Europe in 2008, the property market was not as significantly affected as some of their European counterparts. The mortgage market was effectively flat in the lead up to 2008, as the mortgage market bore little effect on house pricing. The advantage to Italian home owners here is that there is a reduced chance of significant property price crashes, possibly appealing to more conservative investors in property.

Just 42% home ownership was present in Germany around the 2008 crash. This combined with a substantial amount of homes for the population and a stable rental market could lead to potential loss of property value over time. This being said though, it could be the right time to invest in German property while the prices are slightly down.

Spain is one of the biggest destinations for UK citizens to invest in property over the last decade. Buying a second home was a large part of the Spanish property market, and with the recession, that market naturally slowed as people became hesitant on where they invested their money. Oversupply of housing in Spain was already becoming present in 2008, and the recession only deepened those worries. Though there are still many people purchasing property in Spain, there is potential for price fluctuation.

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