International property market 'is polarised'
The European economy continues to show no sign of picking up the pace of recovery - and this is starting to have an impact on the international property market.
An expert has described the state of the market as being highly polarised at the present time.
Head of real estate research and strategy at Standard Life Investments Anne Breen explained this trend through the example of areas of the UK.
For instance, some of the best quality shopping centres in the country have increased in value by up to 22 per cent in the past three years.
Despite this, areas that were already poor have experienced a dip by an average of around ten per cent.
This indicates the importance of ensuring that a thorough amount of research is carried out into an area before making a property investment there.
Director at estate agents Douglas & Gordon Ed Mead said it is a good idea to look at the property activity of desirable brands such as chain stores Starbucks and Waitrose.
Speaking to the Daily Telegraph, he claimed that places where this kind of enterprise is opening up new outlets is a good way to cut out some unnecessary legwork, as they have typically carried out an extensive amount of research into where they wish to operate.
Ms Breen underlined the fact that property market divergence is by no means restricted to the UK.
"[It is] noticeable in global office markets where investor demand has forged a strong recovery in prices across key international core locations such as Paris, London, New York and Munich," she commented.
"In contrast, the recovery in non-core centres has been much more muted in Germany and the US, while in the UK and France there has been little or no recovery in values since 2009 outside of their capitals."