As if we needed any more proof of the growing popularity of international property investment, a recent survey has shown that the volume of online international property searches has surged by nearly 400% in the past year alone, with most people searching aged between 40 and 70. Consumer, media and market research specialists Mintel published their findings this week and they make for fascinating reading. With an increasing number of people noting that overseas property investment is an increasingly viable alternative to the traditional savings or pension plan, ever-higher numbers of UK residents are looking for that perfect rental opportunity or retirement home. The research stated that around 800,000 British households now own a property abroad and experts predict that an estimated further 3% of UK households are intending to purchase proper abroad in the future with a huge 5% intending to up sticks and actually move abroad.
One leading property site found that their number of searches for international property conducted by UK residents jumped 399% in 12 months, with the number leaping up by 25% between February and March alone, a time traditionally seen as the first of the year’s buying seasons, following Christmas and the end of the coldest weather, when people typically start looking ahead to summer. It was no surprise to see that most people searching for a second home want it to be in a hot climate and as close to the sea as possible. Proximity to an international airport is a strong factor
Traditional markets such as France and Spain remained strong in the hunt for overseas property but were closely followed by emerging markets in the Middle East and beyond.
Nicola Christie is a freelance expert in emerging property markets and contributes regularly to national and international property magazines both in Europe and worldwide. She also works extensively with developers and agents as a consultant on identifying key emerging markets and regional hotspots. Nicola is currently collaborating with overseas investment specialists Property Club International, who can be found at http://propertyclubinternational.net