Italy was at the top of international property buyers’ wishlists this summer, reveals TheMoveChannel.com’s new Hotspots Index. The report, which charts the most searched-for destinations on the overseas portal, shows that Italy’s popularity continues to climb.
Florence flew up the charts to become the most searched-for location on TheMoveChannel.com in Q3 2016. The city overtook Rome, the first time in five quarters that the capital hasn’t been Italy’s number one hotspot. Florence accounted for 2.86 per cent of searches by location, up from 2.54 per cent. Its climb to the top of the chart follows a rise of eight places in Q2 2016.
Interest was particularly high in Terni, which re-entered the Top 5 for the first time since the end of 2015. The city, located in Umbria, seized the third spot, knocking Verona down into fourth. Overall, Italy dominated the chart, accounting for seven out of the Top 10, ahead of Portugal (2) and Cyprus (1). Neither Spain nor France were in the Top 10.
Italy was responsible for 21 out of the Top 50 hotspots, ahead of Portugal (10), Spain (10), Greece (1) and Cyprus (1). Germany only accounted for one of the Top 50, as did the United Kingdom. While Berlin was Germany’s leading hotspot, in 21st place, the United Kingdom’s most popular hotspot was Liverpool, rather than London, with the regional city ranking in 34th.
Away from Europe, buyers increasingly turned to the USA, with the country accounting for three of the Top 50 hotspots: Orlando (46th), Detroit (25th) and Atlanta (12th). Interest also rose in Thai real estate, with Pattaya entering the charts for the first time in 18th place.
“The first Hotspots Index following the UK’s EU referendum shows that European property has lost none of its appeal, with the continent accounting for 46 out of the Top 50 hotspots in the three months to September 2016,” comments TheMoveChannel.com Director Dan Johnson.
“Italy is preparing for its own political referendum, but the property market appears to be continuing its steady rise in popularity this year. A rise in supply from sellers and competitive pricing means that foreign buyers have a growing choice of properties, with Rome and Florence remaining favourites, alongside emerging hotspot Terni. Demand for Italian real estate at the start of 2016 was boosted by the strong pound. Despite the Brexit vote’s impact upon the pound, though, the weak euro ensures that US and other international buyers can still find attractive opportunities.”
“Pattaya is the first ever Thai entry in TheMoveChannel.com’s Hotspots Index, which may indicate that buyers are beginning to return to Thailand. The USA’s entry into the Top 50 with three markets, including the attractive Orlando and profitable Detroit, also highlights the enduring appeal of American property for foreign investors. Agents tell us that Brexit has brought more international investors to the UK market in recent months. Liverpool remains the most sought-after UK hotspot, thanks to its growing economy, strong achievable rental yields and a number of new developments set to complete this year.”
The Top 50 Property Hotspots on TheMoveChannel.com in Q3 2016 are as follows:
|22||Spain/Province of Alicante||0.63%||7|
|43||Spain/Province of Girona||0.49%||-20|
Notes to Editors
About Lead Galaxy and TheMoveChannel.com
Founded in 1999, www.TheMoveChannel.com is the leading independent website for international property, with more than 800,000 listings in over 100 countries around the world, marketed on behalf of agents, developers and private owners.
TheMoveChannel.com is one of more than a dozen international property sites operated under the Lead Galaxy brand. Lead Galaxy provides online marketing solutions to thousands of property companies worldwide, focusing on portal listings, email marketing, qualified leads, paid search and social media advertising.
The business is headquartered at 24 Jack’s Place, Corbet Place, Shoreditch, London, E1 6NN.
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