Spain toppled as most popular overseas property destination says survey

  • 14 years ago
  • Uncategorized
For years, Spain has been the most popular destination for Brits looking to buy a foreign home. However, recent research from Conti suggests that buyers are increasingly looking to France as their preferred destination. Indeed, the research has found that France is now twice as popular as any other country.
Spain in second place
Despite well publicised problems with the country’s property market, Spain remains the second preferred choice for Brits looking to buy abroad. 
There are a number of reasons why property in Spain remains popular:
The number of homes on the market
Low interest rates
High bargaining power to negotiate reduced prices from people very keen to sell
Spain is also popular thanks to the ease of access from the UK and its warm climate. And, the sharp price falls from the 2007 peak mean that property in the country is extremely affordable, with many low cost property bargains to be had.
France the most popular
According to the Conti research, France now accounts for twice as much interest as any other country. 43 per cent of enquiries received by Conti this year had been about France, up from 31 per cent in 2009. Spain was in second place with almost one in four people enquiring about the country, with Turkey the surprise third choice, at 18 per cent.
The top three countries collectively accounted for 85 per cent of all inquiries received by Conti in 2010 so far.
France has become increasingly popular due to low interest rates and the wide availability of mortgages. French banks have traditionally been conservative lenders which meant they were less affected by the global financial crisis than other banks.
So, if you are looking for an overseas property, Spain is still a popular choice. With the possibility of snapping up a bargain, now could be the time to buy.

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