[size=55:7ipy25bf]Opp 03 October 2010

UK buyer portal searches double

he number of Brits searching on-line for foreign property has doubled in the last year, according to portal Prime location International.

Enquiries on the site were 95% higher in March 2010 than a year earlier, with the top three locations of Spain, France and the US recording increases of 108%, 153% and 105% respectively.

Searches also increased on a monthly basis for most countries, with Bulgaria’s 11% decline the only fall out of the top ten most popular destinations.

Switzerland, which saw an annual increase in searches of 74%, re-entered the top ten for the first time since January, while Australia dropped out of the chart.

“Pent up demand now appears to be on the brink of converting into sales,” said Ann Wright, international development manager of Prime location International.

“Several signs are now indicating that the economy may have escaped a double dip and be stabilising in earnest and potential buyers are picking up this optimism.”

Rival portal Right-move has seen a 60% annual increase in searches, with Portugal, Turkey and Cyprus seeing the biggest benefits.


Portugal, Turkey and Cyprus are among the main beneficiaries of the returning British interest in overseas property, according to the latest figures from portal Right-move.

The website recorded a 60% year-on-year increase in the number of overseas property searches in March. Destinations in Portugal saw a 6.3% increase in searches compared to the previous month, fuelled by particularly by a 106% spike for Costa Verde, as well as 16% rises for Lisbon and the Silver Coast.

“Portugal has surged past Australia and reclaimed its fourth place in our chart as the seasonal peak in emigration interest fades,” said Right-move's head of overseas, Robin Wilson.

Turkey and Cyprus also rose in popularity compared to the previous month and year, with Mugla and the Aegean in Turkey recording 16% and 12% monthly rises, respectively, and Paphos in Cyprus seeing 12% more interest compared to the previous month.

“Historically, Italy has rounded out the top five countries, but strong performances from Cyprus and Turkey could see an upset as interest builds into summer,” said Wilson.

The biggest increases of all were for Malta, up 21% compared to the previous month, and Germany, up 17%. Spain, France and the USA retained the portal’s top slots.

Currency driven

The trend was backed up by foreign exchange broker Moneycorp, which saw an 18.5% rise buyers and sellers for Portugal and a 16.6% rise for Cyprus compared to the previous month.

“The GBP/EUR rate improved during March and is currently showing more signs of life, pressing higher towards the €1.15 level,” said Moneycorp’s head of private clients, David Kerns.

“Compared to February’s low of just under €1.10, properties within the Eurozone would have appeared a more attractive prospect for euro buyers in March which could account for the rise in enquiries that Rightmove Overseas has seen.”

It is very annoying that Bulgaria has registered quite a significant drop in interest. Despite it's faults, there are quite a few things to recommend Bulgaria. With by far the cheapest house prices in Europe now, surely we should not be witnessing further drops in interest?

Regards, George.

Police,Customs ,Mafia ????????(just a thought George they cant help can they)

neilythere! wrote:

Police,Customs ,Mafia ????????(just a thought George they cant help can they)

I don't really see how these can help Bulgaria become more appealing, with these officials its the same in every single country in the world and it doesn't seem to be a problem there

neilythere! wrote:

Police,Customs ,Mafia ????????(just a thought George they cant help can they)

Well, I did say there were some faults, but Police, Customs, Mafia can be a problem anywhere. Have you ever been to Russia or the Ukraine? Once, actually on my Birthday, I flew in on a three hour delayed flight into Leeds/Bradford from Malta and was detained by Police/Customs for three hours whilst they interrogated me. They then cited the "
Terrorist"
Act to me and gave me a piece of paper which states they can do virtually anything they want and no-one has any recourse whatever. I have kept that as a souvenir. Nowhere have I had as many problems at airports in the UK and I must have been on at least 1000 flights.

Regards, George.

coriolanus wrote:

neilythere! wrote:

Police,Customs ,Mafia ????????(just a thought George they cant help can they)

Well, I did say there were some faults, but Police, Customs, Mafia can be a problem anywhere. Have you ever been to Russia or the Ukraine? Once, actually on my Birthday, I flew in on a three hour delayed flight into Leeds/Bradford from Malta and was detained by Police/Customs for three hours whilst they interrogated me. They then cited the "
Terrorist"
Act to me and gave me a piece of paper which states they can do virtually anything they want and no-one has any recourse whatever. I have kept that as a souvenir. Nowhere have I had as many problems at airports in the UK and I must have been on at least 1000 flights.

Regards, George.

That's about right George I couldn't have said it better myself

It seems like I should have used the word corruption.
I can only speak from persoal experience for all three I must just be unlucky eh?

I don't think you are unlucky,corruption is rife in most eastern European countries,but they are trying to put things right,in Bulgaria the mafia control a lot of things,and make multi million Leva profits,as do some police and government officials,god forbid we look at the UK and see all the corruption there,in a modern Western Country,Bulgaria is getting its act together,where the UK is going to the dogs,i know where i prefer to live

I do however agree with Mick and co about what they are doing about the problems and I am glad for all that feel they have made the right choice by coming there to live in Bulgaria.