British demand for overseas property soaring

The latest figures released by Rightmove Overseas show that demand from British property buyers in traditional overseas hotspots is increasing.

The property company has revealed that its website received a record 5.4 million searches for overseas property in March alone, with the long popular destinations of Spain and France proving particularly popular.

By the Lake Resort

Spain accounted for a quarter of all online searches, with properties in with Andalucia and the Costa del Sol proving particularly popular, while France was the second most searched for country (17.8 per cent). Aquitaine and Languedoc-Roussillon were the two most searched for French regions.

“Those who can afford to buy have been holding off, but a combination of factors, which you could almost refer to as the ‘perfect storm’, has really kick-started a renewed interest in overseas property,” explained Shameem Golamy from Rightmove Overseas.

“The weather over the last year has been particularly bad, and that always prompts people to start making their dreams of owning a property overseas a reality. Property prices are good, and interest rates are pretty low, which are making it more affordable. And there’s a generation of people coming up to retirement, many of whom are fed up with endless negative news reports (and bad weather) and are making plans to move abroad.”

The United States of America, Portugal and Italy rounded up the top five most searched for countries in March, with the Portuguese island of Madeira receiving a 105 per cent increase in searches.

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