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Exchange rate offsets economic concerns in international market

The number of searches has remained stable despite an uncertain economic outlook. This trend contrasts sharply with the volatility experienced during the banking crisis in the late Summer of 2007, when searches fell by 38.5% between July and August.

Spain has regained the top spot in the ranking from France, having fallen back to second place in April, despite concerns over the country’s debt. The situation may come to parallel that of the UAE which has also struggled with debt issues in recent months.

UAE did not register significant immediate falls when news of the financial difficulties faced by Dubai emerged. However, the popularity of the UAE has decreased gradually, and the country is the only one of the top ten to have registered a decline in searches over the last year, down 18%. It seems reasonable to expect the popularity of Spain to decline slightly over the coming months if the uncertainty continues.

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

“Interest in international property remains buoyant as economic concerns are offset by the pound’s favourable exchange rate and the value on offer in many overseas markets. The challenge remains though to convert high levels of interest into completed transactions.”

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