Quality Service and Expertise the raison d’être of EREN
EREN – the European Real Estate Network – is an elite international network of Europe’s leading luxury property specialists that was founded in 2004 with the clear and simple objective of providing a crossborder nucleus of unequalled expertise, in-depth local market knowledge and the very highest credentials in terms of the quality of service, know-how and integrity. In bringing together the best of luxury real estate companies in France, Switzerland, Austria, Germany, Italy, Spain, and Portugal, EREN has the ability to harness a priceless body of experience, information and contacts within a single organisation that was formed to raise the standards of practice in luxury real estate and provide a reference of singular quality for those buyers, investors and homeowners who seek to work with the most professional and ethical of partners. EREN associates are not merely passive members of a large network, but actively work together on a daily basis, exchanging information and ideas, business, and industry-leading marketing initiatives that ensure that our member firms are at the forefront of modern developments and therefore highly effective in promoting your property or finding suitable homes and investments for high net worth clients from across the world. As a result, we offer a network of excellence providing a pan-European platform for luxury real estate for those who are serious about property and expect the highest standards of effectiveness and conduct.
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AUSTRIA
Gornik Immobilien GmbH Kitzbühel – Tyrol – Salzburg
Partners: Walter Gornik & Karin Gornik What are the main characteristics and developments in your market? The call for Kitzbühel apartments and country properties is consistently strong, especially from Austrian and German buyers. In fact, 2016 was a record year for us. We specialise in Kitzbühel but also cover the villages and country areas up to 20 kilometres around. Where is demand placing the market right now? Strong demand has driven prices right up, with m2 prices between €12,000 and €20,000, but a lot depends of course on location, views, style, space, amenities and finishing. Apartments with chalet appeal but stylish contemporary interiors are very much in demand, while luxury villas in Kitzbühel will command prices between €7 million and €35 million. Most recent significant sale? An old mill sold for €14,5 million. It shows that many buyers are also looking for interesting properties with character that they can renovate.
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AUSTRIA
Marschall Real Estate Vienna & Eastern Austria Partner: Peter Marschall What are the main characteristics and developments in your market? We specialise in city centre apartments, both historic and recently built or renovated, and luxury properties in the top suburban areas or surroundings of Vienna. The market is solid, having revived some time ago, but is still showing growth. Our main buyers are local, augmented by a significant number of EU citizens, Eastern European citizens, and also international buyers working for multinational firms and international organisations. Where is demand placing the market right now? Prices are showing an upward movement, with villas ranging between €6,000€8,000/m2, luxury apartments between €8,000 - €12,000/m2, and properties in top city centre locations going up to € 30,000/m2. There is strong demand for Vienna apartments in top city centre locations that offer a combination of classical elegance and modern amenities, while the same criteria also hold true for luxury villas in top suburban areas. Most recent significant sale? Luxury Penthouse Apartment in the city center of Vienna, €6.100.000. This unique Penthouse is situated in the center of Vienna close to the Opera House with a breathtaking view over the city. The apartment is 331m2 and is set over two floors with separate entrances and a rooftop terrace. The internal elevator connects the floors directly.
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FRANCE
Maxwell-Baynes Real Estate
Bordeaux – Arcachon Basin – Cognac – Charente/ Charente Maritime – Dordogne – Lot – Biarritz Partners: Karin Maxwell & Michael Baynes What are the main characteristics and developments in your market? The market for city apartments and town houses, as well as country properties in the Charente, Charente Maritime, Dordogne, Lot area and vineyard estates in the Bordeaux showed significant improvement in 2016. Buyers are very diverse, ranging from French and European to American, Australian and Chinese, and they represent both individual buyers searching mostly for restored property to investors keen on vineyards and prized chateaux. We have a new market as from 2016 for villas and apartments in the Arcachon basin on the Atlantic coast, which includes Cap Ferret and Pyla-sur-mer, together with the Biarritz area, as there are many people from Bordeaux and Paris with second homes in these locations. Where is demand placing the market right now? People are attracted by appealing prices and/or prestige real estate, but many search for investment potential along with charm and status. Average m2 prices are €3,000 for houses and €4,000 for apartments, while of course wine estates fall under a different measurement. Overall, best location and status are the main selling points, with charm, views and modern amenities or restoration potential important among more conventional buyers. Most recent significant sale? Chateau Gaby, a prestigious vineyard located in Canon-Fronsac. It was sold including furniture, all wine equipment and stock and what this property offers represents the kind of prime international real estate that attracts a premium global clientele. 5
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GERMANY
Zabel Property Berlin
Partner: Thomas Zabel What are the main characteristics and developments in your market? Germany’s major metropolises are experiencing a housing shortage. We are the leading specialist in Germany for the direct sale of condominiums to international clientele. Our major markets are Berlin and Frankfurt. We market 60% of our properties to clients from 28 different countries; 50% of the buyers are investors and 50% are owner-occupiers. Where is demand placing the market right now? Germany’s premium real estate segment continues to grow. Since the U.K. BREXIT vote, investors increasingly look to Germany because of overall investment security. And even though prices increase at a rate of 7% to 10% per year, Berlin still offers very good value. Demand is strong and we believe that prices, especially in central districts, will continue to surge. Prices average between € 6,000/sqm and € 8,000/ sqm, with premium luxury property prices ranging from € 10,000/sqm to 15,000/ sqm. Most recent significant sale? The sale of a superior 45th floor, 5-room 200 sqm penthouse in Frankfurt’s Grand Tower—Germany’s tallest residential tower—for € 3.1 million. The buyer selected from several premium materials, designing the two bathrooms—one of which is en suite to the master bedroom’s dressing room—and incorporating wall and floor coverings to realize individual design requirements. Two sunny balconies and floorto-ceiling, panoramic windows provide spectacular views over the city of Frankfurt. 6
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I TA LY
Cofim Immobiliare VR
Verona – Veneto – Trentino Alto – Adige –Lake Garda Partner: Marco Argentieri What are the main characteristics and developments in your market? The tendency is very positive as there is movement in the property market again. The market is dominated by Italian professionals between 35 and 50, and also by European buyers and investors who are drawn away from the stock markets by attractive prices and better returns. Where is demand placing the market right now? At the moment it is focused upon a good mix of renovated city centre apartments and villas in more country settings. Prices haven’t really started rising yet, but they stand at around €4,000-€5,000/m2. It is certainly true that a good, convenient location and renovated interiors with modern amenities are most highly prized, and in the case of settings such as Lake Garda and Venice views are of primary importance too. Most recent significant sale? The top floor renovated 200m2 apartment we sold for €850,000 in a historic city centre location near our offices is quite typical of what is most in demand in the luxury segment of our market right now.
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La Commerciale Srl
Rome – Campania – Marche – Lazio – Umbria Partner: Maurizio Pezzetta What are the main characteristics and developments in your market? Our main market concerns high-end properties in prime locations where there are not any developments. We deal in luxurious historic city apartments in top locations as well as seaside villas and country properties and estates. Our core area is in and around Rome, but we cover luxury properties across Italy. Where is demand placing the market right now? Properties that offer a good location and access to facilities combined with style, preferably located in an area with historic/architectural charm blended with modern luxuries represent the most in-demand properties. Prices in these Rome locations can vary between 7,000.00 €/m2 and 10,000.00 €/m2 with unique locations garnering 20,000.00 €/m2. Luxury villas in prime locations in Rome range between 8,000.00€/m2 to 12,000.00 €/m2. Most recent significant sale? Sale of shares of a company in whose asset include an exclusive and unique villa directly on the Spanish Steps in central Rome. The price and the methods of sale are reserved information.
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I TA LY
ImmobilSarda Srl Sardinia, Gallura - Costa Smeralda
Partners: Giancarlo Bracco, Daniela Bracco, Julia Bracco, John Bracco What are the main characteristics and developments in your market? The trend of the market in Sardinia, in the region of Gallura - Costa Smeralda— where we are the leading specialist since 1974—is influenced by strict planning laws starting in the 1960’s across Gallura, preserving the quality of the environment. The alliance between “environmental quality” and “good living” attracts sophisticated niche customers, notably high-end North European, Emirates, Dubai, Qatar, and Russian investors. Demand is solid for the most renowned locations: Porto Cervo, Romazzino, Pevero Golf, Porto Rotondo, Porto Rafael and Portobello. Selling points are nature, seafront locations, top level services, wellness, privacy, security, access to leisure, modern amenities, and unique lifestyle. Where is demand placing the market right now? Demand is steady, the premium end of the Sardinian property market remains strong, with the Costa Smeralda area attracting international buyers. We see an increasing request for prime waterfront and exclusive locations, with prices ranging from €7 to €50 million for high end villas and ‘trophy assets’. Mid-range properties from €500,000 to €3,000,000 remain stable, drawing Italian buyers. In addition to North European buyers, we see more Swiss, German, Austrian, Belgium, UK, Netherland, Scandinavian buyers. Most recent significant sale? A couple of exclusive villas in Costa Smeralda, in the sought after location of Pevero Golf, Baia del Pevero, with prices over €4 million, featuring prominent sea views, exclusive neighbourhood, high end services, and proximity to Porto Cervo. We also had significant sales of a waterfront estate in the area of Lake Maggiore and a vineyard estate in Tuscany. 9
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PORTUGAL
Quintela & Penalva Lisbon
Partners: Francisco Quintela and Carlos Penalva What are the main characteristics and developments in your market? We are seeing significant interest from French, Chinese, Brazilian, Middle East, and British buyers. Buyers are typically private foreign investors, private Portuguese investors, family offices, and investment funds. Significantly, Portugal’s Golden Visa program has been a major impetus in sparking this interest. Additionally, Portuguese favorable tax policies for European citizens has created high demand for properties situated in Lisbon and Porto, especially buyers from France as they seek to shelter their pensions in Portugal. We expect demand to further accelerate through 2017, as the Portuguese government continues to invest and create a favorable business environment, which will continue to push prices higher. Where is demand placing the market right now? We’ve seen a 200% price increase across nearly all market segments, especially within Lisbon. We’re €6,000/m2 for apartments in prime city locations, and €5,500/ m2 for luxury villas. Most recent significant sale? € 4.5 MM, Villa in Cascais. 900 m2 of living space on 2.200 m2 of land. 5 bedrooms, media room, gym, massage room, elevator, heated external swimming pool. 2 guest houses. Terraces with sea front view and a large roof terrace with a spacious jacuzzi and panoramic sea front view.
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S PA I N
Amat Luxury
Barcelona – Costa Maresme – Costa Brava Partners: Immaculada Amat Amigó & Guifré Homedes Amat What are the main characteristics and developments in your market? The market in this area has improved considerably over the past 12 months. Demand and enquiries are up strongly, and both sales and prices are rising too. Our main market is domestic, especially in Barcelona, with strong foreign interest also on the Costa Brava coastline, but one interesting factor in recent times is the rapid rise in buyers from Egypt, which we could relate to affluent people from volatile areas looking for a safe haven. Where is demand placing the market right now? We specialise in luxury apartments and villas, for which we are seeing increasing demand and gradually growing prices. The average m2 price for new prime location apartments is €7,000 and €5,000 for luxury villas, and people are looking for modern homes or properties they can update. Most recent significant sale? A 110m2 apartment with a panoramic 60m2 terrace overlooking the city and sea that sold for €1.050,000. It’s located in the desirable Diagonal Mar neighbourhood of Barcelona and offers contemporary open-plan living spaces, exceptional styling and luxury amenities, and space on three levels. This, combined with a great location, is what people are looking for right now.
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DM Properties / Knight Frank Marbella – Costa del Sol
Partners: Pia Arrieta Morales & Diana Morales What are the main characteristics and developments in your market? Though the most in-demand exclusive addresses remain in Marbella and the La Zagaleta country club, the market is now defined as the Golden Triangle of Marbella, Benahavís and Estepona, where much of the demand is focused on luxurious villas on beautiful grounds and frontline beach penthouses with views across the Mediterranean to Gibraltar and North Africa. The climate, lifestyle and accessibility to other parts of Europe play an important role in the on-going desirability of this area. Where is demand placing the market right now? The strongest demand is for properties in good locations featuring modern style and amenities, be they apartments or villas. Prices have been growing gradually again, with quality being the main factor and average m2 prices at around €6,000 for villas and €10,000 for luxury apartments in prime locations. Most recent significant sale? A €2.5 million villa in Nueva Andalucía’s Golf Valley, an attractive residential area just inland from Marbella’s famous Puerto Banús marina. At this point its contemporary styling, space, long list of modern amenities, beautiful gardens and close access to one of the finest golf courses is typical of the kind of home our buyers are looking for.
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Rimontgó
Valencia – Javea – Costa Blanca Partners: José Ribes Bas & Antonio Ribes Bas What are the main characteristics and developments in your market? We specialise in luxurious city apartments in Valencia’s best addresses. These include classical/historical renovated properties and modern ones, as well as luxury villas in exclusive suburban areas and the coastal resort towns of the nearby Costa Blanca. Where is demand placing the market right now? Across the board demand and construction activity has picked up, but today buyers are very demanding in terms of style, build quality and modern amenities, which often include full home automation systems. Sales in our Valencia office have increased by over 89%, thanks to factors such as resurgent economic growth and financial stability, stability of prices and the growing presence of international investors. In addition, the Golden Visa scheme in exchange for real estate investments of over €500,000 has contributed to growth, as have attractive prices and this region’s growing reputation for lifestyle and healthy living. We expect these conditions to continue to drive growth. Most recent significant sale? Valencia is especially popular among professionals and sophisticated buyers and investors from France, the UK, Holland, North America and China, while in the Costa Blanca there is strong demand for golf and beach villas and apartments among French, British, Benelux, German and Scandinavian buyers keen on the climate, lifestyle and the great value. Average m2 prices are €5,250 for apartments and €4,500 for villas. 13
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SWITZERLAND
Walde & Partner Immobilien AG Zürich – Lucerne
Partners: Gerhard E. Walde & Marianne Walde What are the main characteristics and developments in your market? Zürich continuously ranks as one of the top cities in the world as having a high quality of life and Lucerne is famous for its picturesque landscape. Consequently, we attract international clientele searching for property here. The market is still very active and we have several types of buyers: locals searching for houses and apartments in the city and the beautiful surroundings, high net worth clients purchasing upscale properties, and investors comprised largely of private pension funds, foundation, etc. Our market expectation for 2017 is that it remains very positive, even though the regulations in loans are stricter than 24 months ago. Where is demand placing the market right now? Prices for properties in top city centre locations in Zürich range from €20,000 €23,000/m2. Luxury villas are seeing prices range from €25,000 - €30,000/m2. And the rental market for properties in prime locations range from €7,000 - €22,000/ month. Most recent significant sale? The most significant sale was a beautiful historic villa, situated in one of the best parts of Zürich, on Zürichberg. We sold this property for more than €10 million to an individual who immediately fell in love with the property.
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SWITZERLAND
Wetag Consulting Lugano – Locarno – Ascona
Partners: Ueli Schnorf & Philipp Peter What are the main characteristics and developments in your market? In our market area, which is the southern Ticino axis around Lake Maggiore and Lake Lugano, things are picking up again. Switzerland has recently gone through a difficult time but enquiries and sales are growing again, especially among Swiss, Italian, British and Scandinavian buyers. Where is demand placing the market right now? Prices are now at a more favourable level for buyers and investors - €14,000/m2 in Locarno and €17,500/m2 in Lugano – so people are being attracted back and searching for lakeside apartments and villas with top facilities and views. Switzerland remains a safe and secure investment, and buyers are coming back to that. Most recent significant sale? A CHF 20 million lakeside villa that offers lots of space (1,000m2), style and luxury along with a top location and fantastic views. Properties like this belong to an international luxury market, not really a domestic one, and within this global top segment a location on the Swiss lakes remains one of the most desirable anywhere in the world.
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EREN Head Office 73 Watling Street London EC4M 9BJ T. +44 0203 178 6154 F. +44 0203 178 6155 bod@europeanrealestate.org
www.europeanrealestate.org