Statistics reveal that the Summer 2013 months of July, August and September saw a record number of enquiries for properties in ‘classic’ European destinations according to the Overseas Guide Company’s Quarterly Index.
The index measures interest in destinations popular with second homeowners and expats. Year-on-year demand for information relating to foreign property rose 30 percent during Q3 of 2013.
"Growth has clearly been driven by classic European hot spots," said Richard Way, Editor at the Overseas Guides Company. "France, Spain, Italy and Portugal all recorded a 50 per cent year-on-year hike in interest for the year to the end of September and even Greece's popularity rose 23 per cent.
“…Most of the Eurozone is still very much a buyer's market, with property prices either at rock bottom or close to it and mortgage rates at historic lows. The exchange rate edging back in favour of Sterling as the year progresses has also brought more buyers out of the woodwork. Add to this the fact that banks, primarily in Spain and Portugal, have little choice but to offer some very attractive deals on repossessed homes and things are shaping up nicely for 2014."
All of the above means it’s very much a buyer’s market in most destinations, with Greece showing particular signs of improvement following the recent issues affecting the country.
