Overseas property buyers back - and choosing France and Spain

Overseas property buyers back - and choosing France and Spain

Traditional locations are still top choice for British property buyers as confidence returns to the market, according to a 'Homes Abroad' report from BuyAssociation.

Demand for overseas property is strengthening, with Rightmove Overseas reporting record search levels on its website this year, and enquiries received by the Overseas Guides Company being higher in the first quarter of this year than in any quarter during 2012.

So where are people buying?

It's the old favourites of France and Spain which are topping the popularity tables, due to bargain property prices, low interest rates and attractive rental yields, says the report.

While the global events of recent years have been pulling prospective investors back to the safe and trusted destinations, however, there's also evidence that the ongoing eurozone crisis has been pushing some people to alternative locations.

Turkey, for example, offers a similar lifestyle to Spain, and has very affordable property but, of course, is not in the eurozone. And the USA, where there are signs that the property market has turned the corner, offers a true 'hands-off' investment to investors.

Many believe that the biggest change in recent months has been one of confidence rather than location. Many people were sitting on their hands when the apocalyptic talk of the demise of the eurozone was at its peak.

But it seems that after 'waiting and seeing' for a year or so, buyers are beginning to realise that the market will pick up, and if they leave it too late, they might miss the best deals, and this can be said for both lifestyle buyers and investors.

The overseas property market may have changed, but it's alive and well. The dreamers have gone, and the serious investors are in it for the long term, which is a sensible attitude.

There's definitely a consensus that confidence is picking up and that buyers who have been putting off their plans to invest abroad are taking advantage of the very favourable conditions that are open to them.

The 'Homes Abroad 2013' report contains analysis of the overseas property markets and extensive comment from leading industry experts.

Click here to access the report in full or search for properties for sale in Spain, or France.


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