(MENAFN- Gulf Times) A survey conducted by Commercial Bank revealed that half of the bank's customers are considering buying property overseas in the next 12 months, with Europe as a preferred destination for investment or vacation.
In a statement, Commercial Bank said it recently conducted research into the attitudes of customers when it comes to investing in property overseas.
'The views of the respondents revealed that more than half of customers taking part in the survey said they were considering buying an international property within the next 12 months and the likelihood of this happening increased when they felt supported by expert advice, Commercial Bank said.
Europe emerged as the preferred destination for investment or vacation purposes followed by other Middle Eastern locations. For Qatari customers already owning a property overseas, Turkey was the most favoured location, whereas for expats it was the UK and Spain.
Based on the survey and to help VVIP customers, Commercial Bank hosted a seminar at the St Regis Hotel to help them learn more about the international property scene and the many pitfalls to avoid for the less experienced purchaser.
Bouchra Sebbata, Commercial Bank AGM and president of high net-worth clients, said, 'We pride ourselves on knowing our customers and having meaningful financial relationships so that we can fulfil their financial needs.
'Organising events on topics of interest with access to expertise on a range of subjects is just one way that Commercial Bank is using our strength to provide the best client experience.
Frank Carter from Colliers International showcased a range of properties they are offering in Portugal and Turkey. He discussed how ownership of certain qualified properties in certain countries may enable access to residency in Europe.
Richard Bradstock of IP Global spoke on how they assist customers in building a portfolio when the purpose of ownership is more for investment rather than personal use, with examples from Berlin in Germany and Manchester in the UK.
Abigail Ashington-Pickett from Hawkmoor Property used examples in London and explained how the discreet, bespoke services of Hawkmoor enable access to unique properties and how they assist customers throughout the entire process in a personalised manner.
Amit Sah, Commercial Bank EGM, Retail and Consumer Banking, said, 'Our research certainly made us think about how we can use our financial expertise to help customers and for a limited time, we are offering mortgage rates from 3.95%. Customers thinking of buying property or releasing equity from a current property should speak to their Relationship Manager to see how we can help them.
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