Spain and France still top overseas property hotspots
After the top three the most popular overseas property destinations are Portugal, Italy and Australia, although many areas in France have experienced a rise in popularity, especially Aquitaine, the Dordogne and the French Alps. Some 60% of the top 10 falling regions are in Spain and Turkey, Ireland and Malta all saw a fall in popularity during the month of November.
‘As the colder weather draws in across the UK, users have been looking at beating the winter blues by browsing some of the tens of thousands of properties for sale across the globe. In November we saw an increase in searches for properties in long haul destinations, such as India, Australia and Canada,’ said Shameem Golamy of Rightmove Overseas, ‘Emigration always features heavily in buyers’ mind this time of year, so it is logical they are weighing up the options before the New Year kicks in. France has also seen a surge in interest, mainly led by increased interest in the Dordogne, Savoie and Hérault regions’.
Quote from PropertyCommunity.com : “Correct me if i’m wrong but paying so much taxes for an appartment in Spain for investment is just crazy. How do they want to attract foreign investors with more than 15% of the appartment price for taxes??? “
There is also interest in property investment destinations with Istanbul, Dubai and Germany all seeing increased searches at the expense of traditional holiday home destinations such as Praia da Luz in Portugal, Valencia in Spain and Orlando in the United States. According to Charles Purdy, managing director at the Smart Currency Exchange, currency rates between Sterling and the Euro means that popular eurozone countries such as Spain, France and Portugal remain at the top – ‘Even though the euro has fallen from its high of just over €1.28/£1 in July to around €1.23/£1 this is still way above the average rate for last year of just under €1.15/£1,’ he explained.
He believes it is hard to predict what will happen with exchange rates in 2013. ‘At this moment in time it is difficult to see the euro gaining the ground it lost last year given the depth of debt problems in Italy and Spain. However there are no sure things when it comes to currency which makes limiting your risks so important,’ he pointed out.
‘Elsewhere it isn’t just the sunshine that attracts people to Australia. The economy is in rude health when compared to that of the UK, Europe and the US. So even though the Australian dollar continues to be overvalued in the eyes of many you wouldn’t want to bet on it weakening any time soon,’ he added.