In terms of increasing popularity, Spain, Italy and Portugal were star performers in 2014, with Ireland and Turkey also seeing respectable growth in enquiries. Interest in France, already a very popular destination, also rose marginally.
During 2014, OverseasGuidesCompany.com attracted a total of 42,048 enquiries, in the form of downloads of free Buying Guides, such as SpainBuyingGuide.com and PortugalBuyingGuide.com, compared to 37,449 in 2013. The period of April to June, key overseas property viewing time, attracted the highest number of downloads, namely 11,740 across all countries.
It certainly seems that rock bottom prices, a stronger pound and cheap euro mortgages were attracting British buyers to Europe in 2014. However, unlike other years, the second quarter was stronger in terms of leads than the third, which is likely to be linked to two things. The uncertainty caused by the Scottish Referendum in September could have caused a drop in enquiries in Q3, while increased enquiries in Q2 could have been triggered by the exchange rate swinging back in favour of Brits in April following lows of £1/€1.19 in March.
Spain versus France
Spain spearheaded the resurging interest in foreign property in 2014, notching up 10,540 enquiries – a 27 per cent year-on-year hike and a hefty 1,808 more than France. The Costa Blanca and Costa del Sol remain key buying areas for foreign purchasers.
France held the number one spot in 2013, ahead of Spain by 244 enquiries, but growth of just two per cent in 2014 knocked it down to second place. France’s market remains geographically broad, but popular areas still include the South-West, Languedoc, Poitou-Charentes and Brittany/Normandy.
Growth markets
Portugal racked up a staggering 39 per cent year-on-year increase in enquiries in 2014, driven by foreigners snapping up discounted beach property in the Algarve. Italy recorded an equally impressive 26 per cent rise, while double digit growth in enquiries was also achieved for Ireland (10 per cent) and Turkey (11 per cent).
Words by Angelos Koutsoudes, Head of Overseas Guides Company.com, publishers of buying guides in over 15 countries, 0207 898 0549.
