Buyers brush off Brexit as demand for European property climbs

The UK may be about to decide whether to remain in the EU, but buyers are still in love with European property, reveals new research from TheMoveChannel.com.

The international property portal’s latest Top of the Props report reveals that demand for the continent’s real estate rose in March 2016, led by Spanish property.

The USA remained the top destination on the site in March 2016, accounting for 13.45 per cent of all enquiries, with Canada also holding steady in fifth place (2.61 per cent). As Rio’s Summer Olympics draw closer, Brazil also enjoyed a boost in appeal, rising two places in the charts to seize eighth spot (1.9 per cent).

Australia also continued to attract investors and expats alike, climbing nine places in the Top of the Props league to re-enter the Top 10 for the first time since August 2015. The country, which has seen real estate prices soar in recent years, has become an increasingly popular market for international investors, although it remains one of the most sought-after destination for Brits planning a new life overseas, rivalled only by Spain.

Spain overtook Portugal once more to become the second most popular property destination in the world in March 2016. Spanish property was responsible for 5.63 per cent of total activity on the portal, up from 3.48 per cent in February 2016. Portugal slipped into third place, accounting for 2.86 per cent of the month’s activity.

France fell two places into sixth (2.42 per cent), while Turkey (2.86 per cent) climbed the charts to re-enter the Top Five for the second time in the first three months of 2016. Germany also slipped two places into ninth (1.78 per cent), but buyers showed no sign of falling out of love with the Eurozone: Italy rose three places in the chart, seizing seventh spot with 2.35 per cent (up from 1.39 per cent in February 2016). In total, the Eurozone accounted for five out of March’s Top 10 destinations on TheMoveChannel.com.

“Britain may be debating a Brexit, but buyers are still in love with European property,” comments TheMoveChannel.com Director Dan Johnson. “Despite the pound weakening against the euro in recent months, demand remains strong for the continent’s familiar holiday home hotspots, with Spain, Portugal, Italy and France all still in the Top 10 destinations. Investors are increasingly turning to US and Canadian property, as well as the resilient Turkish real estate market, but Spain, in particular, has rarely been more attractive, thanks to its combination of bottomed-out prices and gradually improving economy.

“Sentiment has weakened slightly in UK property, perhaps due to the uncertainty surrounding June’s referendum, with enquiries falling 13 per cent in March 2016 compared to February. Other regions of Europe, though, enjoyed strong growth in interest in March, with Eastern Europe seeing enquiries soar 23 per cent month-on-month, Southern Europe enjoying 18 per cent growth and Western Europe witnessing a 16 per cent increase. Northern Europe was the only other region to record a dip in activity (down 32 per cent), but overall, the continent saw enquiries edge up in March 2016, accounting for 23 per cent of the portal’s total enquiries, compared to 20 per cent in February 2016.”

 

The full Top of the Props chart for March 2016 is as follows:

#

Country

Share

Change

1 USA 13.45  
2 Spain 5.63  1
3 Portugal 3.65  1
4 Turkey 2.86  2
5 Canada 2.61  
6 France 2.42  2
7 Italy 2.35  3
8 Brazil 1.90  1
9 Germany 1.78  2
10 Australia 1.58  9
11 India 1.35  3
12 Argentina 1.29  1
13 Bulgaria 1.23  2
14 Cape Verde 1.08  3
15 Romania 0.71  6
16 Thailand 0.64  2
17 Greece 0.59  11
18 UAE 0.48  6
19 Dominican Republic 0.42  4
20 Ireland 0.42  5
21 Philippines 0.36  7
22 Mauritius 0.35  22
23 Morocco 0.32  6
24 Austria 0.30  8
25 South Africa 0.30  10
26 Cyprus 0.23  6
27 Fiji 0.23  5
28 Barbados 0.22  14
29 New Zealand 0.22  2
30 Malta 0.22  
31 Pakistan 0.21  3
32 Croatia 0.20  9
33 Hungary 0.16  7
34 Poland 0.15  3
35 Estonia 0.15  
36 Slovenia 0.10  
37 Cambodia 0.09  9
38 Egypt 0.08 10
39 Panama 0.07  
40 Bahamas 0.06  7

 

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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Please contact Ivan Radford on ivan.radford@themovechannel.com or +44 (0)207 952 7221

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