Spain tops for property searches on rightmove
Traditional European markets saw interest increase by an average of 20% in May, according to UK-based portal Rightmove.co.uk.
Portugal was one of the biggest winners with a 29% monthly increase in searches overall, while the country’s Silver Coast saw an 82% rise – the website’s biggest jump.
Spain and France remained the most popular countries with areas such as Mallorca, Almeria and Provence-Alpes-Côte d`Azur all seeing big rises in interest. “As the markets settle down and people’s thoughts turn to holidaying, it seems interest in classic European destinations is reviving, particularly amongst lifestyle buyers,” said Rightmove’s head of overseas, Robin Wilson. “Emerging markets have certainly lost ground as speculative investors have taken their cash elsewhere (that’s if they have any to spend at all).
“Serious bargain hunters and disciplined investors are still very keen and targeting relatively safer long term bets in cities like Istanbul or Budapest, or distressed market opportunities in Spain and UK favourite, Florida.” Wilson said some areas like the Balearics had seen big rises in interest following publicity drives the Monaco Grand Prix had led to a 46% jump for the principality.
Interest for Cape Verde, however, had fallen away after a strong showing in April with news of direct flights from the UK. “I think the message is, whilst there are brief hot spots, the smart money is staying focused on affordable destinations with pedigree and long term potential,” he said.
Source OPP Monday 6th July 2009
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