Top 10 overseas property destinations in June

The results are in for the Property Abroad.com monthly look at the most popular choices of those searching for property on the site in June. There are only a few changes from last month, but there is also a shocker or two in there.

The first change is America climbing one place to take number 1 spot from Spain, which is now in second. This continues the trend of America's rising popularity, on the back of the price drops American property has seen, the Pound strengthening against the dollar and reports that the American property market may be close to bottoming.

France and Greece have also swapped places, with France climbing one place to take 3rd, knocking Greece into 4th.

Cyprus fell back 2 places into 7th place, moving Turkey and Italy both up one place to take 5th and 6th respectively from 6th and 7th behind Cyprus last month.

Portugal remained 8th most popular in June as it had been in May, but 9th and 10th changed majorly. Egypt and Canada, which had only entered the top 10 last month in 9th and 10th place, have gone again to be replaced by Bulgaria and India.

Bulgaria isn't such a shock it comes and goes from the top 10, having lost some of the popularity it regained at the beginning of the year, it seems to be clawing it back a little once again. India however is a new one on the top 10, which is a resounding signal that all is not lost in terms of faith in emerging marker property investment.

The full results of the top 10 most popular in June were as follows:

America
Spain
France
Greece
Turkey
Italy
Cyprus
Portugal
Bulgaria
India

Compared to last month:

Spain
America
Greece
France
Cyprus
Turkey
Italy
Portugal
Egypt
Canada

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Top 10 overseas property locations so far in 2009

Overseas property portal Property-abroad.com have revealed the top 10 most popular countries in the first quarter of this year, in terms of searches for property on their site. It is surprisingly different from their results for the same period in 2008, and their results for April released last week.

The biggest surprise is that the 1st and 2nd most popular countries for Q1 and on into April, Spain and America, have switched positions since Q1 2008, that is to say that America was most popular and Spain second most popular in Q1 2008.

"This is not what people would have expected; American property continues to get cheaper and cheaper, making it more and more popular. Other surveys have recently showed America becoming more popular as this process continues.

Our results show that America's rising popularity peaked last year, when prices fell sharply but the UK was still in relatively good economic shape. Since then the UK has fallen into recession and the Pound has weakened against the dollar," said Les Calvert director of the portal.

Not so much a surprise but definitely worth mentioning is Turkey's climb from 10th most popular in Q1 last year, to 5th most popular in Q1 this year and 4th most popular in April this year.

Canada has been knocked out of the top 10, replaced by Australia in 10th place between Q1 last year and Q1 this year, Bulgaria climbed from 9th to 8th, and France fell massively from 4th in Q1 last year to 9th in Q1 this year. Other than that the results are pretty constant.

The full results of Property Abroad.com's annual quarterly results are as follows:

2009

• Spain
• America
• Portugal
• Italy
• Turkey
• Cyprus
• Greece
• Bulgaria
• France
• Australia

2008

• America
• Spain
• Portugal
• France
• Italy
• Greece
• Cyprus
• Turkey
• Bulgaria
• Canada

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American Property Becomes More Appealing

The US Federal Reserve announced last week that it would cut the federal funds rate from 1% to between 0 and 0.25%, a move that should lower the cost of mortgages and make a US property investment even more appealing.

Liam Bailey, chief market analyst for overseas property portal Property Abroad had this to say of the announcement:

"This is yet more good news for the American property market; with the Pound continuing to fall in value, and the Euro at round about the same exchange rate, US property has been becoming more and more appealing to European and British overseas property investors. The latest rate should serve to make it even more attracting by lowering the cost of mortgages. Most people considering an American property as an investment are aware that it may take several years to make any real capital gains, if they will accrue less interest on their mortgage over this period than before, this will make the investment even more profitable.

"With that in mind, continued Bailey. "New figures released by California's Department of Finance show California's population has climbed massively in the past few years, so California could be the state to focus on for overseas investors, because when the US market starts to recover, vis-a-vis when property prices start to rise again, it is likely the economy will be recovering also, and those who have moved into rent, could be ready to buy homes."

Property Abroad have some excellent American properties for sale and to rent, including director Les Calvert's star buy:

A luxury 2 bedroom apartment on the five-star Kissimmee Island resort in Orlando. This is perfect for those looking to invest in American property now while prices are low and cash in whenever the opportunity presents itself. According to the developer, the prices of these apartments are now 54% less than their 2005 launch price, which is also less than build costs. At just £100,000 a blind man in the dark could see that they are a bargain, which will reap significant rewards when the US economy experiences its next boom -- not to mention the 6-8% rental yields they will be making in the meantime.

About Property Abroad

Property Abroad is rapidly growing into one of the best known, trusted and most successful overseas property portals in the U.K. With a slick dynamic site and very reasonable rates Property Abroad currently has among the most extensive worldwide property listings on the net.

To find out more contact Liam Bailey on liam@property-abroad.com or the team at: info@property-abroad.com

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