The search for property’s abroad increases

Why use a broker instead of a bank

The number of people searching for property overseas is increasing according to the latest Rightmove report. It revealed that 51.45% of locations experienced an increase in March.

Australian property remains of interest but Spain is the apparent favourite as it dominated 22% of all searches.

Despite the unstable Spanish economy, property buyers continue to show interest in Valencia, Fuerteventura, Benalmadena and Torrevieja as all their searches increased by over 20%.

Turkey has climbed two places in the Rightmove Overseas table showing improved interest in the country. However, Switzerland has dropped to 20th spot.

Head of Rightmove Overseas, Shameem Golamy said: “Following new year’s surge of interest in overseas property, strong demand continues with 2.8 million searches performed on site for a second month in a row.”

He added: “Long haul destinations like Australia and India remain at the forefront of buyer’s minds. India, now a regular in the top 20 is popular with non-resident Indians (NRI’s) wanting to move or invest back home.”

Property hunters refrain from considering regions enduring political discomfort as the turmoil in Italy is said to have influenced the fall in popularity of four Italian regions. Overall, searches for Italy dropped by 12%.

Transfer Money to Spain

If you are looking to invest in Spain, think carefully about how you will be transferring money to Spain. Foreign currency exchange rates quoted by banks are almost always worse than the exchange rates available through specialist currency dealers.

So if you are looking for the cheapest way to send money to Spain – which you will inevitably have to do if you are looking to make a property investment, be sure to compare the market before you buy your overseas currency.

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The search for property’s abroad increases

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