Friday, 22 October 2010

Spain and Italy doing well despite drop in Property searches

According to a posting on the Intasure Holiday home and second home insurance website blog:-

New figures have revealed a drop in overseas property hunters during September, but some countries continued to perform well.

An overall drop in the number of Brits searching for an overseas property in September failed to rock the robust housing markets in Italy and Spain.

Although figures from Rightmove and Moneycorp revealed a 17 per cent drop in the number of people looking to become holiday home insurance customers compared to August, interest in Italy remained high, and property searches in Tenerife rose by 3.79 per cent.

Among the biggest losers was Greece, where searches fell by a huge 24.46 per cent, with the nation's perilous financial conditions undoubtedly playing a part in putting buyers off.

David Kerns, dealing manager at Moneycorp, said: "In addition to seasonal effects, the decline in searches for overseas property could also be due to the weakening of sterling throughout September against most major currencies."

Shelter Offshore advised property hunters that Spain could offer a relaxed and cultured place to live for retiring Brits.

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