The property market in Europe has shown signs of positivity, according to ft.com.
Over the past three months, confidence has grown among global investors that the property crisis in Europe is coming to an end.
The value of overseas property transactions in Portugal, Greece, Italy, Ireland and Spain increased by 60 per cent in the quarter to July. Head of research in Europe for Cushman & Wakefield, David Hutchings said: "Club Med was out of bounds for most investors just a few months ago.
"But it has taken only a slight improvement in risk tolerances for the bigger markets of Spain and Italy, in particular, to start gaining attention again."
Thisismoney.co.uk reports that the UK housing market has been strengthening in the past year, with data from Halifax showing that house prices have risen by almost 9,000 in just eight months.
This jump in price could potentially result in people choosing to sell up and buy cheap property abroad instead.
As well as being popular with private equity investors, the peripheral economies are proving to be a strong choice for larger investment groups such as pension funds and insurers.
With large cities like London becoming too competitive, European investors are looking overseas for property.