According to a survey published this month by A Place in the Sun magazine, property investors like a bit of adventure mixed in with a fair amount of security when making a choice of where to buy abroad. It came as little surprise that it’s good old Spain that takes the number one spot for the second year running as the UK’s top overseas property spot but check out whose creeping up the stakes.
Organisers at the recent A Place in the Sun Live exhibition, at the NEC Birmingham, conducted the poll amongst attendees: France maintained its 2006 second place on the chart and Turkey surged into third place, thanks to a wide marketing campaign and broad tourism investment across the country. Countries that many thought would feature highly are clearly just not that popular any more - for many, a case of the reality not living up to the hype. Bulgaria and Croatia were two to suffer significant drops in popularity on last year, down 5 and 6 places respectively.
The USA’s weak dollar continues to add to its appeal, with Brits currently able to take huge advantage of great value for money as the country goes through an uncomfortable ‘credit crunch’ on the back of its 2007 lending crisis. The USA leaps six places, up into fourth. The recent push to promote all things Italian has clearly paid off, up three to five and Canada surprised everyone, soaring seven places, up to ninth place. Egypt’s success as a winter sun destination is paying dividends, up three places to 11.
And it isn’t just holiday home purchasers who are driving a change in trends: Australia jumped from 20 to 15 as an increasing number of UK residents choose to swap Surbiton for Sydney. A massive 389,000 Brits relocated permanently to Oz last year alone, according to the Office of National Statistics.
2007’s Winners and Losers as ranked in the UK’s Top 20 overseas property destinations according to A Place in the Sun:
1. Spain ( - )
2. France ( - )
3. Turkey (+1)
4. USA (+6)
5. Italy (+3)
6. Cyprus (-1)
7. Greece (-1)
8. Bulgaria (-5)
9. Canada (+7)
10. Cape Verde (-1)
11. Egypt (+3)
12. Portugal (-5)
13. Morocco (-1)
14. Caribbean (-1)
15. Australia (+5)
16. Montenegro (+2)
17. Croatia (-6)
18. Dubai (-3)
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