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Overseas buyers ignore eruption, election and eurozone woe

The USA and Italy fared the best among the top five countries, with searches up 6% and 3% in April. With buyer reservations over Spanish property returning temporarily as market worries about Greece spread, France is once again the most popular location.

Although some caution exists, particularly over the impact of the general election, the potential for tax rises and fluctuations in the international financial markets, high earners are generally encouraged with the recovery in the economy so far and are optimistic that it will continue.

This impact is not only felt as consumer confidence, but the recovery in asset classes such as UK property and shares means that potential buyers now have significantly more collateral available when looking to make an international property purchase.

Ann Wright, International Development Manager of Primelocation International, comments:

“These latest figures show that the rapid growth in interest in international property over recent months appears to have reached a peak in the short term, as events conspire to usher back in heightened levels of caution.

“Some analysts will undoubtedly be concerned about the extent to which such growth is sustainable, especially given the uncertainty following the inconclusive election. However, many economic indicators remain positive and, while there is no guarantee that searches will translate immediately into sales, there is equally no reason to doubt that the growth is built on a solid foundation of potential purchasers with access to finance.”

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