Interest in European property is on the rise in the UK
Spain, France and the United States are the top destination for British people searching for properties overseas, according to the latest report from RightMove Overseas.
Overall in July some 60% of locations saw an increase in searches while 39.87% of locations saw a decrease in searches and 0.06% of saw no change.
European destinations saw a surge in traffic last month with Portugal rising above Italy to take fourth position in the top ten table and Croatia entered the top 20.
The top three countries have now remained unchanged since January and coastal destinations in particular are proving popular.
‘July’s activity on site saw beachfront properties in Europe as the hot favourite for those searching for their idyllic overseas home,’ said Shameem Golamy, head of RightMove Overseas.
Tenerife searches rose 44%, searches for five beachside areas in Portugal all went up and so did interest in the Greek island of Kefalonia.
‘It is not unusual at this time of year for sun seekers to begin researching prices of properties before they jet off on holiday, with a view to a future overseas purchase in mind,’ explained Golamy.
He added that potential buyers are turning to RightMove Overseas in increasing numbers, with over 611,000 individual visitors using the website to search for their dream overseas property in July.
According to Charles Purdy, managing director of Smart Currency Exchange said that current exchange rates are encouraging for British buyers in the eurozone.
‘With the euro staying above €1.25/£1 it isn’t a surprise that the UK’s interest in European property is on the rise as there has been a 20% improvement in the rate over the last three years,’ he said.
‘Spain and France continue to be the preferred destinations but Portugal is certainly an area where we are seeing increased interest from our clients,’ he explained.
Bargain prices in parts of the United States such as Florida are also proving popular.
‘What seems to be attractive to our clients in the US are the bargains to be had especially in Florida, either on the coast or close to Disney,’ added Purdy.