Spain is now the most sought-after destination in the world among international property buyers, reveals TheMoveChannel.com’s latest Top of the Props index. The country is shrugging off concerns of a slowdown in the wake of the UK’s Brexit vote, with interest from foreign buyers climbing once again in August 2017.
Spain accounted for 5.81 per cent of all enquiries on TheMoveChannel.com during August, enough to leapfrog former top dog USA and seize the number one spot. This is the third time that Spain has been the most popular country on TheMoveChannel.com in 2017.
Buyers are actively searching for Spanish property, as well as enquiring: August’s Top of the Props report follows TheMoveChannel.com’s Q2 2017 Hotspots Index, which found that Spain accounted for more than half of the top 50 searched-for locations across all countries. The most popular property hotspots in Spain are Almeria, Malaga, Benidorm, Tenerife and Barcelona.
“International interest in Spanish real estate has remained strong throughout 2017, despite the start of Brexit talks between the UK and the European Union,” comments TheMoveChannel.com Director Dan Johnson. “There was some fear that Brexit would lead to falling sales, as a result of declining British demand. Over the three months to August 2017, though, enquiries for Spanish property on TheMoveChannel.com have risen 4 per cent compared to the previous three-month period, building upon already high levels of interest. Official figures show there has been a drop in British purchases in the last year, but on a national level, international interest has increasingly diversified, leading to a record level of foreign activity in 2017.”
The USA was TheMoveChannel.com’s second most popular destination in August, with the country ranking in first place for seven months of the year so far. Enquiries for US property have risen 6 per cent in the three months to August 2017, compared to the previous three-month period.
France followed Spain in flying up the chart to third place, with 3.65 per cent of enquiries. This is the first time this year that France has ranked in the top three countries on TheMoveChannel.com. Its climb into the top three follows strong interest for much of this year: France has now ranked in TheMoveChannel.com’s top five destinations for four months in a row.
After ranking in the top five four times in 2017, Italy slipped into eighth place, down from fifth in July. Greece also fell down the league table month-on-month, but enquiries for Greek real estate over the three months to August were nonetheless 8 per cent higher than the previous three months. Turkey and Thailand both enjoyed a return to popularity, with fifth place Turkey seeing enquiries rise by 22 per cent over the three months to August. Thailand re-entered the top 10 for the first time in seven months, and the second time this year.
Brazil also saw a rebound in interest, entering the Top 10 for the first time since November 2016, while the UAE consolidated its international appeal, ranking in the Top 10 for the sixth time this year and the first since May.
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The full Top of the Props chart for August 2017 is as follows:
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