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21 January 2008

Spain heads Place in the Sun favourites

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by Gill Montia

Spain heads Place in the Sun favourites

A recent study by A Place in the Sun magazine puts Spain at the top of the list of most attractive overseas property investment destination for UK buyers.

Despite emerging interest in more exotic locations, the country took the title for the second consecutive year.

France followed in second place and Turkey was voted the third most attractive destination, partly because of the range of developments marketed in the UK and the year-round sunshine.

The US came fourth on the list with interest heightened by widespread falls in house prices and a weak US dollar.

Prices in some areas of the US are down by as much as 30% on 2007 and investors do not seem to have been deterred by the sub-prime mortgage crisis and talk of a an economic recession.

Bulgaria and Croatia were two to suffer significant drops in popularity on last year, down five and six places respectively, but recent promotions of Italy appear to have been successful with a move up to fifth place.

However, Canada took the chart by storm, rising seven places, up to ninth place.

Full details of the top ten are as follows: Spain; France; Turkey (+1); USA (+6); Italy (+3); Cyprus (-1); Greece (-1); Bulgaria (-5) Canada (+7); Cape Verde (-1).

Richard Way, editor of A Place in the Sun magazine, says: “When looking for a second home or new life in the sun it seems that Spain’s mix of great weather, rich culture, and beautiful coastline is keeping the country at the number one spot, but buyers aren’t afraid to consider Germany, Montenegro, Morocco, Las Vegas, Thailand or Dubai.”

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