SmartNewHomes.com, the new homes website, reported a 45% increase in users clicking through to view overseas property in the three months from July 2008 compared to the same period last year, with September seeing the biggest increase so far this year.
David Bexon, Managing Director of SmartNewHomes.com, said: “The significant increase in the number of consumers viewing overseas properties demonstrates the growing appeal of the overseas market, as people look to escape the gloom of the UK economy.”
SmartNewHomes.com’s analysis of visitor numbers in the last six months has shown Cyprus to be the most popular country for those looking at overseas property, followed closely by Bulgaria. The analysis also revealed that some traditionally favoured second home locations continue to have wide appeal, with Spain making it to third place in the list of most popular destinations.
Bexon adds: “The emerging markets of Cyprus and Bulgaria have enjoyed considerable expansion in terms of new property development and infrastructure, which has helped to attract significant foreign investment. The latest Knight Frank Global House Price Index has shown that both countries are offering strong annual growth of 9% or over - making these locations an attractive place to buy.”
Southern Cyprus has been growing in popularity with British buyers, particularly retirees attracted by the affordable property prices, warm climate, high quality of life and relatively short flight to the UK. The country’s membership of the EU and Euro zone has also helped to boost the country’s investment potential. Northern Cyprus has also benefitted in the last year from a boom in property demand, as the growing stability and affordable property prices have helped to attract buyers.
David Bexon continued: “Emerging markets continue to offer excellent opportunities for property investment, and countries like Bulgaria and Cyprus are attracting second home buyers as well as property investors, because of their holiday potential.
“Although property investment in emerging markets has grown rapidly in recent years, established destinations like Spain will always hold an attraction for UK buyers, particularly those looking for a home opposed to just an investment.”
