Spain most popular with UK buyers

Mortgage Introducer

August 26, 2015

In July 2015 37% of all enquiries from foreign house-hunters were for homes in sunny Spain, while France (34%) came a close second in terms of demand.

Buying in the United States is also growing in popularity, as 8% of enquiries were made for homes across the pond, up from 5% a year ago.

Mark Bodega, director, HiFX said: “Looking at the global property market broadly, the last six months have been very interesting.

“Whilst demand for international property remains well below pre financial crisis highs, we’re beginning to see pockets of demand off the back of strong price performances in a number of key countries including several in Europe, and some more exotic ones further afield including the US, Hong Kong and New Zealand.

“In Europe, the story in property reflects the wider economic picture and a two speed Europe is becoming increasingly evident with some countries (Spain, Portugal and Ireland) on the up with prices rising and demand coming back, whilst others (France, Cyprus, Greece, Italy) are showing no or negative growth.”

Coming fourth and fifth in terms of hotpots were Portugal (5%) and Switzerland (4%).

Bodega added: “Switzerland is an interesting one; its proximity and accessibility to the UK– as well the beautiful views, food and culture it offers, make it very attractive to British buyers. However, soaring prices have caused a plunge in popularity.

“I’m looking forward to seeing whether it continues to fall, as buyers head to the USA, or whether this is simply a lull and we’ll see it rise again next year.

“The USA’s growth in popularity is unsurprising – it has everything you need, from the sunshine state of Florida, the home of good wine in The Orange County, and the hustle and bustle of New York. The USA is one to watch.”

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