It’s currently a good time to sell across prime European markets, according to Kate Everett-Allen, head of international residential research at Knight Frank.
In recent months been a mismatch of supply and demand, as a nervousness from sellers has resulted in a lack of supply.
However there’s been strong domestic demand, as people have looked to upgrade to bigger homes, relocate, or purchase a second home from which to work semi-permanently.
Now borders are reopening there’s also expected to be a surge of interest from overseas buyers.
Searches for properties in European cities on Knight Frank’s website were up 10% in April month-on-month with Lisbon(pictured), Florence and Paris attracting the most attention.
Mark Harvey, Knight Frank’s head of international sales, said: “The strong sales rates we’ve seen in the last 12 months have been driven almost entirely by domestic buyers, once borders reopen and cross border transactions normalise, we expect stock levels to reduce further.
“We’re making contact with clients who have sat on the side-lines as a result of the uncertainty over the last few months. Not only are we able to share with them a number of off-market properties that we hold exclusively, but also explain that now is a key window of opportunity as we await a second surge in demand as travel restrictions start to ease and overseas buyers return.”
Prices are expected to increase across most of the European markets tracked by Knight Frank in 2021, with Lisbon, London, Geneva, Berlin and Paris leading the way.
Price inflation is expected to see an uplift in the short-term, though the markets could cool down as policymakers act to curb speculative investment and keep a lid on prices.
