Interest in overseas property soars

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by Gill Montia

Primelocation’s International Search Index has revealed that in November, the number of searches for international property doubled, when compared to a year earlier.

The website logged over one million foreign property searches, taking levels of interest back up to pre credit crisis days.

The firm is therefore hopeful that pent up demand for second homes and investment purchases is likely to spill over into increased sales activity in 2010.

Almost one third of searches were carried out for property in Spain, which has now overtaken France to become the most popular destination, after twelve months in second place.

The USA and Switzerland saw the highest growth in searches and Primelocation’s international development manager, Ann Wright, suggests the surge could be related to “disgruntled” City workers considering their options regarding changes over bonuses, regulation and tax.

She adds: “Similarly, the heightened interest in Swiss property can arguably be in part attributed to the possible migration of some major European hedge funds, as they seek lower tax environments.”

In other overseas property news, jmlvillas.com has been reminding owners of holiday homes that the long dark evenings of winter are just the time when people think about next year’s vacation.

The firm, which advertises holiday villas and apartments across Europe and further afield, is urging property owners to think about marketing.

According to jml, the number of holiday rental properties in Europe and worldwide is increasing and the right level of exposure is essential, especially when the global economic downturn is taken into account.