Europeans believe time is right to buy property

A growing number of European consumers, including investors, believe that now is a good time to buy property, as real estate markets start to improve, according to findings of the Janus Capital European Consumer Finance Survey.

The study of just over 6,000 Europeans revealed that more than half believe that the property sector is now ripe for investment.

The majority – 28% - of all respondents said that if they had the capital available, they would primarily invest in property, as prices are now improving.

However, despite a keen interest in buying property, a staggering 82% of all people surveyed said that they would or have found it extremely difficult to obtain mortgage finance at the moment.

A total of 24% also admitted they are finding it hard to keep up with their existing mortgage payments.

David Bowers, joint managing director of Absolute Strategy Research and author of the report, says: “Property has traditionally been seen as long term investment, although the various property bubbles, notably in the UK, have led speculators to try and play the market. Although not a clear indication that people are going to flock back to the property market, these findings do indicate that home ownership is still valued, if a loan can be found to pay for it, of course.”