Established property destinations appeal to Brits

16 September 2009

French property is most popular among Britons searching for a home to buy overseas, according to fresh mortgage data released today.

The latest ‘hot spots’ report compiled by Conti Financial Services reveals that France accounted for a staggering 31% of all overseas mortgage enquiries received by the company this year, followed by Spain property with an impressive 22%, despite all the recent negative coverage.

Enquiries for both locations have increased considerably since 2008 as more Brits shun the emerging property markets and put their trust in the more established destinations.

Whilst property in France and Spain property now account for over half (53%) of all enquiries, compared with 29% last year, Turkey property has maintained third place in the table and increased its share to 13%. Portugal property and Italy property have also advanced up the table, to fourth and fifth places respectively, whilst interest in both Bulgaria property and USA property has declined over the last year.

Clare Nessling, Conti’s operations director, says: “In the current economic climate, British buyers are sticking to the more traditional overseas locations, especially those with history of providing good rental returns. The smart investor is no longer simply looking to where the best bargains for a swift return can be found, but to where security lies for a longer term investment.”

See Also:   Bulgaria, Conti, France, Italy, Marc Da-Silva, Portugal, Spain, Turkey, USA