There were a record number of enquiries for properties in France, Spain, Italy and Portugal in the summer of 2013, according statistics from the Overseas Guides Company. It has reported that demand for information about foreign property rose 30% year on year during the third quarter of 2013 and 37.8% during the first three quarters of the year.
The firm, a free resource for overseas property buyers, attracted 10,518 direct requests for information, in the form of downloads of its free Buying Guides, during the third quarter of 2013, compared with 8,089 in the third quarter of2012.
‘Growth has clearly been driven by classic European hot spots. France, Spain, Italy and Portugal all recorded a 50% year on year rise in interest for the year to the end of September, and even Greece's popularity rose 23%,’ said Richard Way, editor at the Overseas Guides Company.
‘Reasons for this surge are varied. At home in the UK, there is growing confidence in the economy, as well as consistent upward pressure on house prices. Meanwhile, most of the Eurozone is still very much a buyer's market, with property prices either at rock bottom or close to it, and mortgage rates at historic lows,’ he explained.
‘The exchange rate edging back in favour of Sterling as the year progresses has also brought more buyers out of the woodwork. Add to this the fact that banks, primarily in Spain and Portugal, have little choice but to offer some very attractive deals on repossessed homes, and things are shaping up nicely for 2014,’ he added.
As is usual at this time of the year ski resorts are also seeing an increase in interest, according to the latest report from Rightmove Overseas. Overall its website saw an increase in search activity in 52.66% of locations.
‘Users turned their attention to the ski season. October saw a huge increase in the Chamonix and Mont Blanc area in France which is a location that caters for all budgets. Property starts from as little as €90,000 located right in the heart of the Alps so it’s easy to see why this is a popular destination,’ said Shameem Golamy, head of Rightmove Overseas.
Other locations seeing an increase in searches included Puerto del Carmen, Playa Blanca, and Fuertuventura in Spain as well as Praia da Luz in Portugal.
Spain is still the top country for property searches, followed by France, the United States, Italy and Portugal. In Spain the top five destinations are Andalucia, the Costa del Sol, Valencia, the Canary Islands and Alicante. France’s most searched destinations are Aquitaine, Languedoc-Roussillon, Brittany, Provence and the Cote d’Azure and the French Riviera.
