In an effort to keep low inflation from derailing the Eurozone’s economy, the European Central Bank has surprised financial markets this September with a cut in interest rates and new stimulus plans.
Speaking at a press conference after the announcement of the rate cut, ECB president Mario Draghi said the Bank expected to see “a prolonged period of low inflation” and reiterated a pledge to keep rates low for the foreseeable future. After the rate cut was announced, the Euro fell against the Dollar and Sterling making a purchase of property in Europe even more attractive.
The European Central Bank cut interest rates and announced a program to pump money into the economy and stimulate lending by buying bundles of bank loans.
It may not be a coincidence that we have seen a change in stance in the last 12 months by Austrian banks which have shown a high interest in financing up to 60% of the purchase price of ski property investments by foreign buyers.
If a potential investor is shrewd, they could secure a property now with Kristall Spaces at Spring 2014 prices with only a 1% fully-refundable reservation fee (no buyer’s commission fee) with the first 15% stage payment not due before the spring of 2015.
Furthermore, we have seen an apartment bought for €300k in our recently completed project in Zell am See be remarketed for €350k within 12 months and the buyer only paid 60% of the price before making the decision to sell.
That equates to a €50k uplift on a €180k capital investment in just 12 months.
Please get in contact with us today and find out how you could earn up to 15% IRR on one of our Austrian ski properties.
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