Spain has once again topped the list of overseas property hot spots, according to overseas mortgage firm Conti.
The country accounted for 40% of enquiries received by the company over the third quarter of 2015, and 46% of those received over January to September this year.
France appears to be making a comeback, taking a 38% share of enquiries over the third quarter and 32% over the course of the year so far. Conti said it came out top during August and September with 46% of enquiries compared with Spain’s 31%.
Clare Nessling, director at Conti, said: “There’s no doubt that Spain’s appeal was tarnished following the property crash which saw prices in some of the most desirable areas fall by up to 50%. But, following a nightmarish few years, the property market is on the up at last and British investors are regaining confidence in real estate and rediscovering their love for the sights and sounds of this beautiful country.
“Although the French property market has remained a lot more steady than Spain’s, many investors have been holding off on their purchasing plans to see what happens with property prices in France, which are now expected to stabilise and then begin a slow increase, which is good news for anyone thinking of entering the market now.”
In third position is Portugal, where more upbeat economic news and attractive property prices have provided a boost to investors’ confidence and this is leading to an increasing number of buyers coming back to the market in search of opportunistic bargains. Over the third quarter it accounted for 19% of enquiries, and 16% over January to September.
Conti claims it’s an ideal time to be buying in all three locations, with the strong pound shedding tens of thousands of pounds off property prices across the board. A €200,000 property, for example, is now almost £14,000 cheaper than it was this time last year, and around £20,000 cheaper than 18 months ago.
