Hike In Demand For Property Overseas
There was a significant rise in the number of Brits seeking to buy a home overseas
during the first quarter of 2012 compared to the final quarter of 2011, according to the latest quarterly index released by the OverseasGuidesCompany.com (OGC).
The latest report by OGC, which provides free property buying guides to 15 countries, showed that France attracted 22% of all enquiries during the first three months of this year, more than any other country. Spain pulled in the second highest share with 16%, followed by the USA with 15%. Significantly, the next most popular, Australia, had just 9%.
The total number of enquiries received by OGC for its country specific guides grew by 38% quarter-on-quarter, namely from 4,677 in Q4 2011 to 6,468 in Q1 2012. Encouragingly, the year-on-year growth was far greater a staggering 128%, from 2,843 in Q1 2011.
Richard Way, Editor of OGC commented: Discounted prices are not the only driver in France and Spain at the moment. The last month or two has seen Sterling creep up in value against the euro, partly due to the festering Eurozone debt crisis; so that the current exchange rate is the most favourable its been for a year and a half for Brits exchanging pounds. We are also seeing close to a six month high in the value of the pound against the dollar which could be responsible in part for driving the US property market. Our sister company, Smart Currency Exchange, has as a result been able to secure some very favourable rates for buyers and vendors in each of these countries.
He added: In Spain one of our partners is promoting brand new two-bedroom apartments close to the beach in Almeria for less than 100,000, secured with just a 5,000 deposit and the rest covered by finance. Also a partner in France is marketing a traditional four-bedroom home in the Charente for just 90,000.
In the USA, there are more positive economic indicators, certainly than those coming out of Europe which has led analysts to believe that the downturn in Floridas property market has bottomed out. Prices, as well as the theme parks and year-round sunshine, have a lot to do with its popularity.
Way continues: Our partner who operates in the popular Orlando area is currently promoting a four-bedroom detached home in Kissimmee for just $75,000, around 43,000, with a return on investment of 9.5 -10.6%. That same realtor is also promoting a one-bedroom condo for $29,000, less than 19,000 along with a swish three bedroom family home on a golf and country club community in Sarasota on the Gulf Coast for just 135,000.
he average price of a home in Spain deprecated by 41.7% between 2006 and 2011, as a consequence of the housing crash, which has been fuelled primarily by a significant housing glut, according to research by Barcelona-based Universitat Pompeu Fabra (UPF).
The study, which analysed the sales figures of real estate firm Tecnocasa provided from the end of 2006 to the end of 2011, suggests that Spanish property prices are likely to fall further unless credit conditions improve.
A lack of mortgage liquidity is partly to blame for the collapse in demand for properties in Spain, which has contributed significantly to the huge gap between supply and demand in the country.
The research, led by Garca-Montalvo, reveals that the greatest fall in Spanish property prices occurred between the second half of 2010 and the same period in 2011, when prices fell by 19.7%.
by: Mike Jones
How Booking Back After Your Property Is Sold. Is It Harder To Be An American? Changing Your Car Power Supply Is Easy Earn Good Cash For Your Junk Car-sell It To A Junk Car Recycler Wordpress Developers Changed The Blogging World! Finding The Best Place For Exchange Of Currencies Learn Cutting- Edge Technology With Sws Computer Accounting Specialist Program How To Buy Bed-wetting Products For You Things To Do Whenever We Are Locked Out Of Car Ras Mohammed Snorkeling Trip By Boat From Sharm Red Sea Sub Marine Trip In Sharm El Sheikh Cairo 02 Days Trip By Plane From Sharm Sightseeing Day Trip By Ferry Boat To Petra Jordan From Dahab