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4 May 2010

Overseas property searches double

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by Gill Montia

Overseas property searches double

The dream of owning a property abroad remains high on the agenda for many Britons, according to Primelocation International.

The property portal has reported a 95% year-on-year rise in online searches, as confidence in the economic recovery strengthens.

Searches jumped 14% in March alone, with interest in property in France up 26% and both Spain and Turkey showing a 16% rise.

The firm believes potential investors are now watching currency exchange rates closely, with interest likely to translate into a higher level of sales over the coming months.

International development manager, Ann Wright, comments: “Several signs are now indicating that the economy may have escaped a double dip and be stabilising in earnest, and potential buyers are picking up this optimism.”

She adds: “The pound may need to rally further before transaction levels can set off on a steady recovery, but buyers are certainly more willing to consider purchases in the established, favourite markets of Spain, France and the US.”

In related news, foreign mortgage specialist Conti recently experienced its busiest month for almost a year, with the number of prospective buyers taking their mortgage quotes through to the application stage increasing by 48% in March, compared with February.

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