London luxury property boom extends to hotels
London is the most sought after location in the world for investors looking to acquire a hotel, according to?LuxuryEstate.com. The international real estate portal has revealed that the UK capital now accounts for 13.5% of all searches on its website focused on hotels for sale, reflecting the strong rise in visitor numbers since the 2012 Olympics that has seen a 7.7% increase for the first six months of 2013 compared to the same period last year [Office for National Statistics].
Silvio Pagliani, President of LuxuryEstate.com, said:?“Demand considerably outstrips supply and, combined with the recovering economy, leads us to expect that this trend will continue. The global hotel market is also strong, particularly in the established European markets as they have been emerging from recession and the 2014 World Cup hosts Brazil, which has also seen a surge of new building.”
Armacao de Buzios in the Brazilian state of Rio de Janeiro is seeing considerable activity, with no fewer than 15 hotels in total for sale and strong interest. 4.84% of all global searches are centered here, bringing the city to number four in the LuxuryEstate.com rankings, just below Paris.
Over 322 luxury hotels across the world are listed for sale on LuxuryEstate.com, with many of them concentrated in the UK, Germany and France. Many nationalities are searching beyond their own borders for luxury hotel properties; however, Germany and France tend to look closer to home within their own countries.
More hotels are for sale in Switzerland than any other country (nearly 21%) and interest is strong – Zurich comes second in the global search rankings with nearly 11% of all searches focused there.
The top 10 cities in which people are looking for luxury hotels:
- London, UK – 13.55%
- Zurich, Switzerland – 10.82%
- Paris, France – 8.97%
- Armacao de Buzios, Brazil – 4.84%
- Hamburg, Germany – 3.32%
- Porto Cervo, Italy – 3.25%
- Berlin, Germany – 3.14%
- Braunschweig, Germany – 2.81%
- Zermatt, Switzerland – 1.88%
- Saas-Fee, Switzerland – 1.40%
The top 10 countries in which people are looking for luxury hotels:
- Switzerland – 20.86%
- France – 19.53%
- Germany – 18.72%
- United Kingdom – 13.81%
- Brazil – 7.39%
- Italy – 6.65%
- Spain – 2.29%
- Greece – 1.26%
- Chile – 1.22%
- Ukraine – 1.00%.