French Property Beating Spain For Buyers

The latest report from overseas mortgage specialist Conti indicates that more UK residents are looking for homes in France than any other foreign country. France was in second place in 2008, behind Spain, which has fallen to second so far for 2009. The report is based on the number of enquiries received from UK residents for mortgages abroad.

France, with 31 percent of all enquiries, and Spain, with 22 percent of all enquiries, take up over half of all overseas destinations, according to the report from Conti. Following them are Turkey, at 13 percent and the same position from a year ago, while Portugal is at 7 percent, and Italy at 6 percent now round out the top five and were tied at 8^th a year ago. Bulgaria and the United States, both in the top five in 2008, dropped to sixth and a tie for seventh in this year’s list.

Claire Nessling, Conti’s Operations Director, said in a statement that "In the current economic climate, UK buyers are sticking to the more traditional overseas locations, especially those with history of providing good rental returns. The smart investor is no longer simply looking to where the best bargains for a swift return can be found, but to where security lies for a longer term investment."

France continues to be a very stable market and is relatively secure. In some cases it is possible to borrow up to 100 percent of the value of the property in France, and it will remain a popular choice even after the current crisis fades to memory. Spain has long been a popular destination for Brits abroad, and it continues to be so although it has fallen somewhat over the last year. It has a lot to offer with great weather, beaches and even some great deals right now. Turkey is quickly becoming a desired destination and has avoided many of the pitfalls of other countries. It also has great beaches and weather, and has not seen the rise in prices so there are still plenty of great prices for property buyers.

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