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UK property investors still interested in buying in Spain

This time last year the US was one of the most popular destination in terms of overseas internet property searches but this year it has dropped below Portugal, Cyprus, Italy and Greece, statistics from overseas property listings site PropertyIndex.com show.

Searches for property in the US have fallen 57% while those for Spain have increased by 26%. Turkey is also proving popular with searches increasing by 154%.

Overall 3.33% of searches during January and February 2009 were for property in the US, down from 7.73% in the same period in 2008. While searches for real estate in Spain have jumped from 18.6% in 2008 to 23.4% this year.

Those countries experiencing a decline in interest include France which dropped from 18.95% to 13.24% of property searches in 2009 compared to January and February 2008. But it is still the second most popular country after Spain.

Turkey also performed well, recording 7.18% of searches in 2009 compared with 2.83% in 2008. Greece dropped from 5.37% to 2.83% and Egypt dropped from 2.47% to 1.42%.

Others include Portugal at 7.17%, Bulgaria at 5.81%, Cyprus at 3.41%, the United Arab Emirates at 2.17%, Malta at 1.03%, Morocco at 0.96% and Cape Verde at 0.69%.

The overall average house price searched over all countries dropped 9.4% from €227,680 in January and February 2008 to €206,218 in 2009.

In the US interest is in lower priced properties with the average house price searched falling from €895,170 €503,473. Spain saw a slightly lower drop in price with average price of properties dropping from €489,987 to €334,020.

While in Turkey the searches in 2009 are for more expensive properties. The average house price searched in Turkey jumped from €74,718.95 in 2008 to €90,154.76 in 2009.

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