18/09/09- Today saw an overseas mortgage company and specialist overseas property portal announce increases in activity in the French and Spanish housing markets from its international clients. Conti Financial released its top ten destinations for mortgage enquiries whilst Homesgofast.com announced a spike of activity from people putting their homes back on the international market
The top destinations reveal that overseas property investors are feeling more comfortable with the old favourites of France and Spain with both countries proving to be ‘hot spots’ according to both mortgage specialist Conti and Homesgofast.com
Homesgofast.com saw previously reluctant sellers returning with a 35% increase in home owners deciding that now was a good time to try and sell a property. Most owners who are promoting their homes with the portal came from France and Spain in August 2009
Nicholas Marr CEO Homesgofast.com “It may seem a strange way in gauging an overseas market looking at people who are selling homes abroad. The increase can be translated in to a confidence factor that people feel that housing markets are picking up and that now may be a good time to sell. International home owners attracting overseas buyers had almost but disappeared 6 month ago and now they are coming back”
Conti reported that enquiries for both locations have increased considerably since 2008, as investors shun the emerging markets and put their trust in the more established destinations.
Examining the top destinations for mortgage enquiries it is clear that France and Spain now account for more than half (53 per cent) of all enquiries, compared with 29 per cent last year, Turkey has maintained third place in the table and increased its share to 13 per cent. Portugal and Italy have also advanced up the table, to fourth and fifth places respectively, whilst interest in both Bulgaria and the USA has declined over the last year.
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