European markets 'booming'
The property markets in a number of countries in Europe are booming, according to the Economist Research Unit.
An expert from the currency specialists HiFX cited the figures and said that there is a new generation of property investors, reports Homes Worldwide.
The report calculated an increase in property value in developed economies - those such as Italy, Spain and France - of about $30 trillion (£15 trillion) in the last five years, the publication stated.
Mark Bodega from HiFX said that people from Britain who invested in properties 20 years ago are now moving to smaller properties.
"Whilst this boom has created a whole generation of potential property investors, it seems that those Brits who bought 20 years ago are now selling up, and choosing to purchase smaller properties," he commented.
He added that Britons are starting to move away from the coast and to inland areas of Spain.
In related news, the Economist recently stated that a high number of people in Spain own rather than rent their properties. Overall, 80% own homes in the country.
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