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The Overseas Property Market 2011 - A brief round-up
2011 has been an eventful year for the overseas property market, with traditional favourite destinations continuing to battle for the top spot and a few surprising new popular locations appearing throughout the year. With financial uncertainty hitting the headlines for more than one country, certain markets have dipped whilst others have peaked as investors take advantage of low prices and high potential returns available.
A few months into 2011, the popular favourite of France overtook Spain as the most searched for location for overseas property on the UK’s key property portals.
“France has stayed strong throughout 2011. Enquiries for French property rose from 8 per cent in June to 11.49 per cent in August. Its appeal remains for lifestyle buyers and the economy is still perceived as reliable.” - Ivan Radford, Editor of The Move Channel
“Properties in France have received a healthy growth in interest, as users combine looking for a bargain with a complete change of lifestyle. With transport costs reportedly on the increase, it’s logical that people are starting to look closer to the UK.” - Shameem Golamy, Head of Overseas at Rightmove
Greece received a surprise boom in interest in June, with the Dodecanese island group – which includes Samos and Rhodes – attracting over 50% more searches month on month on Rightmove.
Late summer saw a dip in interest in long-haul destinations along with a further surge in interest for the top European destinations, which were eventually overtaken by the USA in the later months of the year.
Despite the ups and downs of this year’s financial market, investment in overseas property has nonetheless remained popular as purchasers continue search out their ideal holiday homes and investment properties.
