Thursday, February 1, 2007

Established markets still most popular with overseas investors.

The results of a recent survey by A Place in the Sun magazine suggest that established markets are still the most popular places for Brits to buy property abroad...

A Place in the Sun magazine polled its readers and visitors to recent A Place in the Sun Live Exhibitions to find out what the 20 most popular places to buy abroad are. The results have been published in the February 2007 edition of the magazine.

The top ten was dominated by the more established markets with old favourites Spain and France taking 1st and 2nd places respectively. Other established markets in the top ten included Cyprus (5th), Greece (6th), Portugal (7th), Italy (8th) and the USA (10th).

The most popular emerging market in the chart was Bulgaria which came 3rd. Other very popular emerging markets were Turkey (4th) and Cape Verde (9th).

The top three most popular overseas property markets.

A Place in the Sun Magazine wrote in their February 2007 issue, It's no great surprise that Spain leads our Top 20 list - around half a million Brits are thought to either live in Spain or own a property on one of its sunny, sandy sexy costas. And A Place in the Sun Magazine still believes there are still Spanish hotspots to be found. They cite several places in the southern Andalucia region such as Huelva, Almeria and Jean where prices rose 16 per cent in 2005 according to Savills; in Cordoba and Granada prices increased 18 per cent in the same year. In Castilla La Mancha, Valencia and Cuidad Real leapt up 19 per cent, while in northeastern Galicia, Pontevedra grew by 20 per cent in the same year. Savills have, however, warned that "the era of general rapid house-price inflation may be coming to an end.

Of France, A Place in the Sun Magazine wrote, Earlier British invasions clung mainly to the northern coast, but now that low-cost airlines operate services to most major French cities, buyers are being more adventurous. Penny Zoldan of Latitudes told the magazine, People are buying all over France. Brittany, Normandy and Pas de Calais are still as popular as ever, with the Dordogne, Charente, the Cote d'Azur and Provence also attracting plenty of attention. The magazine points out that whereas historically Brits tended to be attracted to older, renovation properties, now, in part prompted by the introduction of the leaseback scheme in the 1980s, new-builds are also popular.

On Bulgaria, A Place in the Sun Magazine warned, The huge supply of property is conspiring to keep prices in Bulgaria low at the moment, and the spurts of equity gain that British buyers have come to expect at home or on the Spanish costas have yet to materialise here.

The 36 most popular places to buy property abroad according to A Place in the Sun readers and exhibition-goers.

1. Spain
2. France
3. Bulgaria
4. Turkey
5. Cyprus
6. Greece
7. Portugal
8. Italy
9. Cape Verde
10. USA
11. Croatia
12. Morocco
13. Caribbean
14. Egypt
15. Dubai
16. Canada
17. Thailand
18. Montenegro
19. South Africa
20. Australia
21. Hungary
22. Brazil
23. New Zealand
24. Poland
25. Goa
26. Estonia
27. Romania
28. Austria
29. Germany
30. Lapland
31. Malta
32. Mauritius
35. Slovakia
36. Switzerland

Article from The Move Channel

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