Spain still reigns top for overseas property investors, as enquiries for Spanish real estate rose this October.
Spain was the number one destination on TheMoveChannel.com, according to the portal’s October Top of the Props index. The country accounted for 6.49 per cent of enquiries, leapfrogging France and knocking the USA from its perch. US property slipped into second place, with 5.05 per cent of enquiries, while France fell to fifth place, with 2.61 per cent of enquiries.
Portugal also enjoyed a significant surge in international interest, with enquiries more than doubling month-on-month in October to account for 4.37 per cent of the total. The country jumped into third place in the Top of the Props ranking, attracting its highest number of enquiries per month since March, when it accounted for 3.96 per cent of enquiries.
Demand also rose for property in the UAE and Turkey, as investors continued to return to familiar Middle East markets during 2017. New Zealand also entered the top 10 for the first time, accounting for 1.53 per cent of all enquiries. With Italy still ranking in the top 10 and Cyprus return to the top 15, though, the colder months remain a popular time for European destinations to come to the fore – and Spain is leading the way.
October’s Top of the Props index highlights the stable interest in Spain from foreign buyers, even as the country hit the news headlines for Catalonia’s controversial vote for independence. Andalucia and the Valencian Community continue to drive the majority of activity on TheMoveChannel.com, highlighting the appeal of Spain’s tourist-friendly Costas, with also Murcia enjoying strong buyer interest, followed by Catalonia’s sought-after star market, Barcelona.
Overall enquiries for Spanish property climbed more than 50 per cent month-on-month, reinforcing the country’s enduring popularity among sun-seeking house-hunters. For Select Resorts, who specialise in international as well as UK investments, the volume of enquiries marks business as usual for coastal hotspots.
“The Spanish property market is very regionalised,” explains Select Resorts Operations Director, Georgina Reilly, “so the effect on the Costa del Sol is likely to be limited. These regions are so diverse that lifestyle buyers on the costa may not pay too much heed to matters in the north.”
This is the fourth time in 2017 that Spain has ranked in first place for buyers on TheMoveChannel.com.
The full Top of the Props chart for September 2017 is as follows: