You’re far from alone in your search for an overseas home, according to stats just out from OverseasGuidesCompany.com, which show a huge hike in interest in buying property abroad in 2015. We take a closer look…

It would appear the UK’s craving for a place in the sun is well and truly back. Enquiries about buying foreign property jumped a staggering 53 percent during the summer months of 2015 compared to the same time last year, with Spain’s popularity continuing to soar ahead of all other destinations.

These findings stem from the latest Quarterly Index figures from OverseasGuidesCompany.com, which received 16,821 enquiries during July, August and September. Not only a hike on last year, this was the highest total since the Quarterly Index began.

Spain cemented its position as the most popular destination this summer, attracting its highest ever share of enquiries in any quarter, namely 37 percent. Together, Spain and France, the second most popular destination with UK property buyers, accounted for two thirds of all enquiries received in the third quarter. OverseasGuidesCompany.com enquiries are measured in downloads of its individual country buying guides.

Spain was also one of four of the top five destinations to record solid rises compared to both the previous quarter and the same quarter in 2014, also including France, Portugal and Italy. Ireland also emerged as one to watch, following positive growth in the country’s property market and interest in Brits buying property there.

The strong pound, cheap euro mortgages and deflated property prices are believed to have contributed to the bounceback in the overseas property market in 2015. At home in the UK, the Conservative all-out victory at the general election, maintaining stability in the economy and housing market, combined with the pension reforms that kicked in earlier this year could also have steered more British people towards investing in overseas property.

Here’s a closer look at how each of OverseasGuidesCompany.com’s top five destinations performed over the summer.

Spain retains its throne
Attracting a record 29.2 million tourists in the first half of 2015, Spain remains the number one destination with Britons buying an overseas home. The 5,377 Buying Guide downloads during Q3 2015 represented a 98 per cent rise compared to last year and meant its share of enquiries grew to 37 percent, compared to 25 percent. “The Costa Blanca and Costa del Sol attract the highest level of UK buyers, with prices in desirable, established resorts now stable, or beginning to rise,” said Laura Richards, Country Specialist for SpainBuyingGuide.com.

French connection still strong
Second only to Spain, enquiries for France totalled 4,165 for Q3, giving a 29 percent share of all enquiries. Compared to the same period last year, this represents a rise of 62 percent. “A recent report from the Notaires de France shows a downward trend in property prices across France – for British buyers, this provides the opportunity of a bargain, and rustic character homes remain very good value,” comments Tamsin Roser, Country Specialist for FranceBuyingGuide.com.

Portugal sitting pretty
In third place, Portugal drew 1,894 downloads in Q3, representing an 83 percent year-on-year increase. “The Algarve remains the key property buying area for Portugal and interest is likely to get stronger with the recent launch of new billion-euro phases of development in Vilamoura,” comments Marina Pasquill, Country Specialist for PortugalBuyingGuide.com. “The country’s favourable tax system, including its Non-Habitual Residents (NHR) scheme, is also a major attraction for foreign buyers.”

Italy’s dolce vita still appealing
Enquiries for Italy rose 34 percent in Q3 compared to the same period last year, reaching 1,423. Recent reports have shown that the cost of living in and owning a luxury property in Italy have come down over the past year, with a focus on home-grown, local produce, rather than a reliance on the traditionally more touristy areas.

USA feels pinch of stronger dollar
Enquiries for the USA fell 14 percent in Q3 compared to Q3 2014, but rose slightly on the previous quarter. This year-on-year fall is likely to be as a result of the strengthening of the US dollar against sterling – over the summer of 2014, the rate hit £1/$1.70, while this summer, it struggled to reach over £1/$1.56. Florida – in particular, around Orlando and Disneyworld, as well as Sarasota on the West Coast – remains a popular buying area.

Ireland – one to watch…
Meanwhile, the number of enquiries for Ireland was almost level with those for the USA in Q3, thanks to a significant 51 percent year-on-year hike. The combination of the weak euro with a housing market on the rise has attracted more buyers to Ireland, including Irish nationals who reside in the UK and wish to get their hands on property on the Emerald Isle before they are out-priced.

More info
For more information on buying overseas property successfully, download the Overseas Guides Company’s free Spain Buying Guide, France Buying Guide, Italy Buying Guide, Portugal Buying Guide or USA Buying Guide – and start receiving free news updates by email.

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