Top of the Props- USA and Costa Rica make an impact

The USA property market may be looking far from healthy right now, but that hasn't diminished interest in the country – visitors to TheMoveChannel.com were still searching for the home of the brave and the US maintained its top spot in out Top of the Props chart…

Whether it had something to do with the predicted restoration of stability with Obama about to take the Presidency is uncertain, but the USA remained our most searched for country on the site in October.

Our Top of the Props chart provides a monthly pop chart snapshot of the most popular countries on the site and October's chart showed no change from the previous month in terms of the top two positions- the USA and Portugal took gold and silver once again.

Stars and stripes

Despite misgivings by some investors due to increased interest rates and stagnant or dropping property prices, the real estate market remains relatively buoyant in certain key tourist locations of the USA.

Today, investors benefit from a transparent legal and buying process and a tourist industry hosting over 40 million visitors per year which fuels a very healthy rental market

Foreign buyers set a record last year by purchasing £277 billion of U.S. assets – even more than they bought back in the golden Millennium era.

According to the Bureau of Economic Analysis , the rest of the world currently owns far more of America (stocks, bonds, property) than America owns of the rest of the world, by a margin of £1.3 trillion, as of early 2007.

So, for the property investor who is not so concerned about short term gain and instead is looking for a longer term purchase, now is a favourable time to be buying in the good old US of A.

As prices are either steady or dropping, investors can get in on the action straight away and reap the ‘immediate investment for long term gain' opportunity.

And at number two…

Another non-mover in our Top of the Props chart is Portugal , retaining its place on the podium at number two.

The Algarve still reigns supreme as the top British choice of destination in Portugal , but the Silver Coast has seen a rise in popularity in recent years, and places such as Alentejo and Costa Verde are now on the property buyer's map.

The brand new Autodromo Internacional do Algarve, or Algarve International Motor Racing Circuit, in Portimao on Portugal's southern coast, is expected to lure in an extra million visitors each year.

This could potentially mean that rental potential on an investment property could be very strong indeed.

Traditional favourite Italy moved up one place to claim bronze.

One of the biggest surprises was Costa Rica , which was the highest climber, moving up 31 places to claim 14 th place.

Costa Rica has recently caught many eyes as a hot tourist spot but also as a great place to purchase real estate. With so much public attention and a vast number of tourists visiting Costa Rica every year, the country offers a great investment environment for real estate.

Amazing biodiversity, a mature political system and economic stability make Costa Rica a unique investment destination.

As of 1948, Costa Rica abolished its army and since 1949 has enjoyed its peaceful democratic existence, often being referred to as the "Switzerland of Central America". Over the past few years the Government has incentivized foreigners to come and retire in Costa Rica.

Costa Rica's proximity to many major American cities has also made it a popular choice for Americans. US airlines offer direct flights to and from Costa Rica from Miami, Houston, Atlanta, Dallas, Chicago, New York and LA, all of which are within a three to five hour flight time.

Dan Johnson, Director of TheMoveChannel.com , said, " Costa Rica is one of the most attractive countries in Latin America for foreign investment.

"The warmth of the people adds to the appeal of the stunning coastline, kind climate and transparent investment sector. 

"There are very few restrictions regarding who can purchase Costa Rica investment properties and there are also tax breaks and cuts offered by the Government for those who are willing to invest in the country.

"Whether you are looking to purchase an investment property, (in which case the rising tourist numbers would make for solid rental returns) or a holiday home, Costa Rica has everything – safety, affordability, beautiful scenery, diverse culture and modern conveniences," added Mr Johnson.

Other movers and shakers

The United Arab Emirates and France claimed fourth and fifth places respectively. Spain moved up three places to take sixth place, followed by India and Brazil, in seventh and eighth places.

New to the top ten was Germany , which climbed three places to enter the top ten at number nine. Last but not least was Turkey , which moved up four places to scrape in at number ten.

If you want to get in on the act and check out properties for sale in our top rated destination, browse USA property .

Picture by Stephanie Costa


Overall Enquiry Volume for October 2008

 

Rank

Country

 

Change

Comment

1

USA

 

Non-mover

1 month in top spot

2

Portugal

 

Non-mover

 

3

Italy

 

Up 1

 

4

UAE

 

Down 1

 

5

France

 

Non-mover

 

6

Spain

 

Up 3

 

7

India

 

Up 1

 

8

Brazil

 

Down 2

 

9

Germany

 

Up 3

New to top 10!

10

Turkey

 

Up 4

New to top 10!

11

Bulgaria

 

Down 4

 

12

Egypt

 

Down 2

 

13

Greece

 

Up 4

 

14

Costa Rica

 

Up 31

Highest climber

15

Thailand

 

Down 4

 

16

New Zealand

 

Up 13

 

17

Cyprus

 

Down 4

 

18

Tunisia

 

Up 7

 

19

South Africa

 

Up 17

 

20

Canada

 

Down 2

 

21

Dominican Republic

 

Up 9

 

22

Argentina

 

Non-mover

 

23

Sweden

 

Up 20

 

24

Malaysia

 

Down 3

 

25

Morocco

 

Up 1

 

26

Hungary

 

Down 2

 

27

Bahrain

 

 

Highest New Entry

28

Albania

 

Down 5

 

29

Romania

 

Down 10

 

30

Indonesia

 

Up 10

 

31

Montenegro

 

Up 1

 

32

Mexico

 

Up 6

 

33

Austria

 

 

New Entry

34

Australia

 

Down 14

Biggest faller

35

Czech Republic

 

 

New Entry

36

St Lucia

 

Up 1

 

37

Gibraltar

 

Up 11

 

38

Cape Verde

 

Down 3

 

39

Uruguay

 

 

New Entry

40

Croatia

 

Down 7

 

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