The world’s leading high-net-worth mortgage broker, Enness Global, has revealed which nationalities have been the biggest spenders in the high-end global property market in 2020.
Enness crunched its own data on the average loan secured and the average property purchase price funded by its mortgage clients to see which ranked top in the international market.
The figures show that Malaysian buyers top the table where property purchasing power is concerned. On average, Malaysian buyers funding their purchase with the help of Enness have done so on properties worth an average of £6.050m. They’ve also borrowed the second-largest amount, with a loan to value of £3.010m.
With ongoing economic and political turbulence, it’s no wonder that buyers from the states rank second in the global property market at present. At £3.271, American buyers have borrowed the most while the average property being funded is the second most expensive at £5.063m.
Buyers from China ranked third with the average property value being funded at £4.5m and an average loan to value of £2.925m.
International buyers from Ireland (£4.132m), Egypt (£3.5m), the UK (£2.589m), the UAE (£2.422m), St Kitts and Nevis (£2.2m), France (£2.113m) and Saudi Arabia (£1.325m) also rank within the top 10 biggest international spenders in the global high-end property market.
Group CEO of Enness Global Mortgages, Islay Robinson said, “Despite the current landscape, we’ve seen high-end buyers from around the world continue to commit to property purchases while weak currencies and low interest rates remain in their favour.
This demand hasn’t been refined to certain pockets of the market or indeed specific nationalities and there has been a notable level of demand coming from all corners of the world from the UK, Europe, the Middle East and the United States.
This is a trend we expect to see continue into 2021 as property remains a consistently safe investment. In addition, the continued influence of Covid will no doubt see high-end buyers continue to diversify their portfolios, to ensure they have options to suit both their personal and business interests, should they need them for the coming year.”