Chestertons, a leading international real estate, said it has created a new international properties’ unit that will focus on EU-based properties for UAE investors.

A multi-disciplinary property business covering residential sale and lettings, commercial and international agency, Chesterton has 70 international offices in the UK, UAE, France, Spain, Italy, Singapore, Russia, South Africa, Australia and Barbados.

The new division will help the Emiratis to explore several new investment opportunities due to the current visa-free-travel status in the Schengen zone, said the company in a statement.

It will facilitate UAE investors to buy properties in Spain, Monaco, Cyprus and several other EU countries from its office in Dubai.

Chestertons has recently appointed Brennon Nicholas as the head of international sales for this new division. In the near future, this new division will also help the investors with opportunities to invest in Monaco, Barbados and several other countries.

"Buying an international property always throws up several questions in the minds of the investor. Market knowledge, the correct price and the potential growth prospects of the property are some of the key parameters that should be considered by the investors,"
remarked Simon Gray, the managing director for Chestertons Mena.
 
"Furthermore, these investors should also be aware if the legalities and rules that apply in these countries before making an investment. However, this is not an easy task for an investor to gauge the potential or understand the features of the property without expert help and timely advice,” stated Gray.

"We have created this new division to provide the Emiratis and UAE investors with a window to explore these opportunities and do the due diligence right here in Dubai. We are currently looking at some of the EU countries that have huge growth potential such as - Spain," he noted.

Simopn pointed out that it was also an ideal situation for UAE investors to buy their second homes, as the US dollar which was pegged to the UAE dirham was getting stronger, and the euro drifting onto the weaker trajectory at the same time.

The company’s portfolio of properties ranges from apartments to multi-million euro grand estates in Spain encompassing Marbella, Mallorca, Ibiza and Barcelona.

With the international buyer in mind, Chestertons also offers assistance to foreign buyers with airport transfers and familiarisation tours. The company has three offices in Spain that includes Marbella, Sotogrande, Barcelona and one in Gibraltar.

"We have significant experience in helping buyers find their ideal overseas property, whether it’s for a permanent move overseas, a holiday home or a real estate investment opportunity," he stated.

According to Gray, the financial markets are expected to be a key driver in the uptake of prime residential property in European markets such as mainland Spain, Mallorca and Ibiza during 2015.

"With the increase in demand for foreign property by Middle Eastern buyers, Chestertons is now able to offer an extensive range of international property options from their ME head office in Dubai. With offices across the globe Chestertons is well placed to offer a wide selection of properties to even the most discerning buyer,” he added.-TradeArabia News Service