High interest in buying overseas
In its monthly confidence tracker survey the company reveals that a huge 72% of people who responded believe that right now is a good time to invest in foreign property. Interestingly, 72% also said that they are currently considering purchasing a property overseas with the United States, Caribbean and Spain still the most popular regions. Brazil was also ranked very highly by these people.
On the subject of UK property, 82% of the survey respondents are of the opinion that this is currently a good time to buy.
When questioned about interest rates, 46% were of the opinion that rates will increase over the next 12 months, however, this is the second lowest figure since the survey began over a year ago, and well below the April peak of 79%. 56% of respondents said that they are directly benefiting from the current low level of interest rates with half of the view that this has increased their desire to buy a property in the UK.
Commenting on the figures, Kevin Wilkes, managing director of the Worldwide Property Group said: “Once again we see mounting evidence of people’s belief that interest rates will remain low for quite some time. The number of people who feel that rates will increase over the coming year has progressively reduced over the last 4 months, if this trend is correct this is excellent news for anyone buying a property.
“It is also welcome news that Brazil has been ranked highly by the respondents of this survey. The country offers some incredible opportunities and we have seen interest and subsequent sales of property here rise sharply in recent months.”