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Chestertons, the international property agency, has created an international arm that will focus on European properties for UAE investors. From its office in Dubai, the new division will help Emiratis explore investment opportunities that have opened up due to their visa-free travel status in the Schengen zone, facilitating purchases in Spain, Monaco, Cyprus and other EU countries.
Chestertons recently appointed Brennon Nicholas as Head of International Sales for the new department. The firm said it is also looking to expand the division's services to help interested parties invest in Barbados and other countries.
"Market knowledge, the correct price and potential growth prospects of the property are some of the key parameters that should be considered by the investors," said Simon Gray, Managing Director of Chestertons Middle East and North Africa.
"Furthermore,they should also be aware of the legalities and rules that apply in these countries before making an investment. This is not an easy task for an investor without expert help and timely advice.
"We have created the new division to provide Emiratis and other UAE-based investors with a window to explore these opportunities and do the due diligence right here in Dubai."
Gray added that it is an ideal time for investors to buy their second homes, as the dirham is benefiting from its peg to the strengthening US dollar, while the euro "is drifting [towards] a weaker trajectory at the same time".
Chestertons' portfolio of properties ranges from apartments to multimillion-euro grand estates in Spain encompassing Marbella, Mallorca, Ibiza and Barcelona. The company said it also offers assistance to foreign buyers with airport transfers and familiarisation tours.
The company has three offices in Spain in Marbella, Sotogrande and Barcelona and one in Gibraltar.
Source: Property Weekly