Property Abroad Reveals Top-Ten Locations

Up and coming overseas property portal has revealed that America has become the second most popular both in terms of properties being viewed and properties being enquired about. Another surprise in figures released by Property Abroad is that Spain remains the most popular country in the world with those looking to buy overseas property. According to Property Abroad's traffic and enquiry figures, the top ten most popular destinations for those looking at buying overseas property is as follows:

Spain
America
Cyprus
Portugal
Turkey
France
Brazil
Italy
Greece
Cape Verde

Liam Bailey, Property Abroad's chief market analyst gave his thoughts on the figures:

"I know some people will be surprised by America being the second most popular country with those seeking an overseas property purchase, but not me. A few months back I saw the trend beginning, when A Place in the sun magazine listed America as climbing 7 places to 4th most popular in their overseas property survey. This was then because of American property prices plummeting at the same time as the dollar crumbled against the pound making American property purchase a particularly financially sound move. It seems this trend has not been affected by the two currencies going in the opposite direction. I suspect America has remained popular despite the currency u-turn, is because many American markets have bottomed out and are predicted to have v-shaped recoveries, investors are therefore buying while prices are low and planning to reap the profits."

"Another reason for America's popularity:" continued Bailey, "is the fact that many developers facing bankruptcy are currently slapping massive discounts on their properties to obtain quick sales, setting shrewd purchasers up for great profits when the market's they purchase bargains in recover -- which is inevitable if unpredictable. One thing I am surprised about however is Spain being number one most popular; surprised more by the fact that it shows there are still masses of British people looking at buying overseas property. Other than that, my guess would have had Turkey in 3rd, Cyprus in 4th and Portugal in 5th, and the rest is pretty much par for the course."

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Romania recommended to investors

Overseas property buyers have been advised to consider purchasing a residence in Romania.

According to FC Exchange, the eastern European country could be a good location for those who want to collect quick returns on their investment.

The currency specialist said this is because the property market in Romania is growing at a relatively fast rate, especially in comparison with places such as France.

This has prompted managing director Nick Fullerton to suggest that people take these issues into account when deciding where to invest.

He commented: "It is important to firmly establish the reasons why you are buying property at the very beginning of the process."

Mr Fullerton added that investors who match their strategy to a suitable market will be able to see the returns.

According to the Property Investor Show, 72 per cent of those who plan to invest abroad this year are looking at less-established countries.

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Turkey attracts British holidaymakers

More and more leisure travellers from the UK are choosing to visit Turkey, analysts have revealed.

According to the Association of British Travel Agents (ABTA), there has been a 20 per cent increase in the number of bookings for holidays to Turkey this year.

The organisation believes this is because the strong euro has put people off visiting Mediterranean countries in the eurozone, such as Italy and France.

Since Turkey offers more favourable exchange rates, visitors can enjoy similar attractions at a relatively low price.

Speaking to the Scotsman, ABTA spokesperson Frances Tuke said: "Turkey has been a popular market this year, because it is outside the eurozone and British travellers are now familiar with it."

She added that people are not willing to let the economic downturn in the UK force them to give up their holidays.

This comes after price comparison site Cheapflights revealed that it has also seen an increase in the amount of interest in Turkey.

Figures show that in the last 12 months, the number of people looking for information on areas such as Dalaman has risen by more than 17 per cent.

News brought to you by Property Abroad - specialists in Overseas Property Investment

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