France and Spain still top choices for overseas property investment

There’s still a healthy appetite for homes overseas from the British public, with the traditional locations of France and Spain still topping the hotspot lists, according to an overseas property report from BuyAssociation.

Rightmove Overseas, for example, has been reporting record levels of traffic this year, and enquiries received by the Overseas Guides Company were up by 50 per cent in the first quarter of this year, compared with the same period in 2012.

This may be due, in part, to the UK having one of the wettest winters and one of the coldest springs on record, but the rise interest can be attributed to a range of elements including bargain property prices, attractive rental yields, easy access and low interest rates. France and Spain are still overwhelmingly popular, with economic uncertainty appearing to have made many people more risk-averse and more apt to stay close to ‘safe’ locations, especially with the deals available today.

While the global events of recent years have been pulling prospective investors back to familiar destinations, however, there’s also evidence that jitters surrounding the ongoing eurozone crisis have been pushing some people to alternative locations. Turkey, for example, offers a similar lifestyle to Spain, and has very affordable property but, of course, is not in the eurozone. And the USA, where prices are generally thought to have bottomed out, offers a true ‘hands-off’ investment to investors.

Some believe that the biggest change in recent months has been one of confidence rather than location. Those who can afford to buy have been holding off, especially when widespread talk of the demise of the eurozone was at its peak. But it seems that after putting off their plans for a while, buyers are beginning to realise that the market will pick up, and if they leave it too late, they might miss out the best deals.

According to the report, the dreamers have gone and the serious investors are generally in it for the longer term. Gone are the days of being out to make a fast buck, with safety and security being the biggest considerations for most buyers right now. There’s definitely a consensus that confidence is picking up and that buyers who have been waiting for the right time are taking advantage of the favourable conditions that are open to them.

To access the full report, visit:
buyassociation.co.uk/property/buyassociation-s-2013-overseas-property-report.html