Overseas buyers favour Spain and France
In the third quarter of 2015 two in five (40%) enquiries were about Spain and 38% were about France.
Between January to September 2015 nearly half (46%) of enquiries were for Spain with a third (31%) being for France. But in the last few months France has reversed the trend, with 46% of enquiries through August and September compared to 31% in Spain.
Clare Nessling, director at Conti, said: “There’s no doubt that Spain’s appeal was tarnished following the property crash which saw prices in some of the most desirable areas fall by up to 50%.
“But, following a nightmarish few years, the property market is on the up at last and British investors are regaining confidence in real estate and rediscovering their love for the sights and sounds of this beautiful country.
“Although the French property market has remained a lot more steady than Spain’s, many investors have been holding off on their purchasing plans to see what happens with property prices in France, which are now expected to stabilise and then begin a slow increase, which is good news for anyone thinking of entering the market now.”
In third place is Portugal, which accounted for 19% of enquiries in the third quarter of 2015, up from 16% from January to September.
Jack Sampson of Forever France added: “This is unexpected based on the current market in France. We’ve had reports of significant increases across a number of regions including Normandy and the Riveria.”
Conti said now is an ideal time buy in all three locations, with the strong pound shedding tens of thousands of pounds off property prices. A €200,000 property for example is now almost £14,000 cheaper than it was this time last year and around £20,000 cheaper than 18 months ago.