Latest figures from Worldwide Property Group reveal a significant rise in interest for overseas property. In the company’s March confidence tracker survey, a huge 75% of those surveyed said that they believe now is a great time to buy a foreign property.
Of these almost all are currently considering buying a property in a foreign country with the USA and Spain topping the list of most desired locations. Interestingly these are some of the very regions where property prices have been worst hit by the global economic downturn, possibly indicating that purchasers believe these markets to have bottomed out with a return to capital growth now a very real possibility.
The survey results show that confidence in the UK property market continues to remain high. 81% of respondents are of the opinion that house prices will not fall further over the coming year, indicating that right now offers a good opportunity to purchase at relatively low levels.
On the question of investment potential, 78% of people surveyed feel that property generally offers better safety and returns than any other major medium to long term investment.
Commenting on the figures Kevin Wilkes, Managing Director of the Worldwide Property Group said: “Property in many of the worlds regions offers tremendous investment potential and the public are starting to realise this. As low travel costs and new technology continue to make the world a smaller place, investing in far flung countries has become increasingly easy. Many who would have previously only considered purchasing in their immediate locality are now more confident and comfortable with buying abroad. We are seeing a situation where confidence in overseas property is almost as high as purchasing in the UK, and with very good reason.”
