France and Spain remain popular amongst those looking for holiday homes, however those looking for assets in emerging markets which wil generate solid returns are looking to the far flung reaches of South America and Africa.
Regardless of where investors are looking, one thing is for sure and that is a buoyant demand for overseas properties.
In its second Annual Global Property Hot Spots roundup, HiFX found investors are vying for properties in areas which will deliver quick growth.
The currency specialist found that interest in Bulgaria doubled between 2005 and 2007, with the number of enquires relating to property in China also increasing from zero in 2005 to 3 per cent in 2007.
This is much more than were received for Portugal and Cyprus.
France
According to the report, interest in France remained steady from 2006 to 2007 however enquires last year are down 7 per cent compared to 2005.
Indeed industry experts have said that the current market conditions in the UK will not squeeze the French property market
Approximately 95 per cent of French loans are fixed rate and French banks are traditionally more conservative when it comes to lending money to both French and international buyers - as a result French economists are not predicting any big rises in interest rates.
Prices across France are not expected to rise significantly this year, nor are they likely to crash. However, as always, there will be regional differences.
Spain
Interest in Spain has decreased by 2 per cent since 2006 and is 10 per cent lower than interest levels in 2005.
Talk of a Spanish property crash has been much discussed, but according to HiFX, is not happening.
Oversupply has affected the Costas and some areas of Spain are seeing market corrections as a result. However this is offset as less traditional inland regions are becoming more popular with savvy buyers.
Mark Bodega, HiFX's director said there were still plenty of opportunities to be had in the lesser known Costas such as Tarragona, and inland; for example in Jaen, Jerez and Cordoba.
