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21 Jul 2009 00:00 by georgia Star rating in Algorfa (As seen on .... 1842 posts Send private message

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Results for the 2009 International Survey conducted by primelocation.com show that 70% of visitors to primelocation.com/international-property are actively looking to buy an overseas property, despite the current economic uncertainty. Of all respondents, 28% said that they are unaffected by the current economic situation, 22% who had delayed their plans because of the economic climate are now back in the market and hope to find a bargain, while 10% said that they are checking out the market but will not proceed just yet.

Ann Wright, International Business Development Manager for primelocation.com, says; ‘This is very clear indication that people have not let go of their dreams of owning a property abroad. Indeed, it is encouraging that people are coming back to the market, possibly because of recent press reports of falling property prices across Europe.’

The primelocation.com 2009 International Survey also monitored the countries the portal’s visitors are most interested in buying in; France took top spot with 25%, Spain came second (16%) and was followed by Italy and Portugal which tied in fourth place with 11% each. The United States, Cyprus, Greece, Switzerland, Turkey, Canada and the UAE took the rest of the top 10 spots.

‘It is interesting to note that over a quarter of all respondents currently own/rent a property in France and interest in the country, which has always been the first choice amongst Brits, has remained fairly stable at 25% since 2008. Spain and Portugal have increased in popularity since 2008 as people respond to the reports of falling property prices. Turkey too has shown an increase in popularity since last year, possibly because of the favourable exchange rates of the Pound against the new Turkish Lira.’ says Wright.

“The percentage of people looking to buy holiday homes overseas remains unchanged from last year’s survey (48%), which reinforces the notion that interest is still there despite the worsening economic conditions, “ continues Wright. “However, the number of people moving abroad permanently has decreased; this is possibly a result of the fluctuations in the value of sterling against the Euro. Also, property prices and the oversupply of rental properties in continental Europe mean fewer people are buying with a view to using the property as an investment or income generator.” Not surprisingly, coastal locations are ranked No.1 by all respondents who are currently looking to own or rent an overseas property, followed by tranquil village settings.

‘Planned spending levels are very similar to 2008, which further strengthens the notion that interest in overseas properties has not been significantly impacted by the economic climate. Also similar to last year’s survey results, most respondents said that they want to buy a property that requires minimal work, buyers want somewhere they can start to use and enjoy straight away,’ concludes Wright.

Primelocation.com 2009 International Survey also found that buyers prefer to use an estate agent in the country in which they are buying. UK based agents are also popular because they give the buyer the reassurance of an English speaking service and expert, reliable advice of the processes of buying abroad.

The survey results also indicate that buyers start their search on property portals, which give them access to a wide range of estate agents both in the UK and abroad. Once they have narrowed down their search they are happy to use the services of estate agents who have properties that fit their requirements



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22 Jul 2009 02:05 by Smiley Star rating in San Pedro de Alcanta.... 2478 posts Send private message

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Dont care about statistics as you can make them read whatever you want them to - BUT that doesnt make the survey wrong - there are still many buyers out there but they are lifestyle buyers - not people looking for a quick buck - in other words we have returned to a normal market - the main motivations for buying a second home (or planned retirement property) have not gone away - in fact if anythign they have probably increased since the start of the crisis and while for many it is harder with tighter mortgage criteria and not as much disposable income and increased deposits required it it still a priority on their list to acquire something here and all the more so with better value for money - despite the weakness of sterling.



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22 Jul 2009 09:59 by advisor Star rating in London most of the t.... 311 posts Send private message

I agree for many a second home in the sun is a dream whereas in the past few years the reality portrayed was that this was an easy dream to turn to reality however now it has returned to simply being an aspiration, that said one whcih many will aspire towards......still.

They now realise however that it is not that easy, which in the long run should hopefully mean that of every 100 "tyre kickers" 95 will have com eover with a larger element of realism than every before.



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22 Jul 2009 11:16 by TJ222 Star rating. 317 posts Send private message

 I supose if you are an estate agent then you have to keep talking your book. Afterall have you ever met one that said now is not a GREAT time to buy?

There are lots of green shoots stories in the press at the moment, but sadly its all part of the dishonesty of spin. If you take the p out of spin what do you get?

When a currency like the UK and US is backed by nothing other than faith, then you need to keep the faith, even when the over whelming odds are against you.

In order to stay in touch with reality you have to ask yourselve some difficult questions, like why are we in recession at the moment and what we need to do to get out of this mess.

Take a look at what this government has done. Has it got to grips with the bloated and unaffordable public sector? Has it reined in all the benefits paid to people who don't want to work, all the single mums and immigrants lareging it up at the tax payers expense. Why does it need to print out of thin air 125 thousand million pounds, just to make ends meet. How much longer can it go on borrowing this kind of money to maintain the illusion of prosperity?

What will happen to the econmy once this borrowing and spending stops? How much unemployment will their be once the illusion of public sector jobs have gone.

The futuire liabilty for public sector pensions is now larger than the entire GDP of the UK. How is this supposed to work?

There are lots of myths still about at the moment, like credit increases consumption and increasing house prices are good for the economy. But imho the most damaging myth still very prevalent is that this is a normal cyclical recession and as soon as we come out of it, things will get better and the QE can be reined in and interest rates get back to normal, whatever that is.

For the productive parts of the world, the above is probably true, their mistake was to loan too much to us and to rely too much on our imports without the real resources to pay for them. They can recover on a more sound footing. Our problem (UK, US) is much more difficult. We maybe in a cyclical recession, but its a recession on a secular decline. Politicians even bank chiefs and the newspapers keep talking about whats needed just to get us to the other side and then things can return to normal.

But I say how can we return to prosperity when there was no real prosperity? The Uk was indeed once a very propserous country, infact it was the envy of the world. But we exported that propsperity in terms of manufacturing and engineering jobs to Asia, in the hope of getting rich from selling each other inflated houses. What are we going to return to - more consumer spending on the back of ever increasing house prices and debt. Thats been done and is what cause the crisis in the first place. More government spending, so the mirage of jobs and wealth can continue?

I suspect Brown understands this and is just hoping to get to the next election before we have a currency crisis. He will end up like Tony in Brussels somewhere, probably in a gated community where he can live in luxury like a zoo animal. The rest of us will have to pick up the pieces.

The pieces will be much higher unemployment and a loss of living standards. Does this really sound like the climate for second homes in the sun. Property prices be they in the UK or Spain have a long way to fall.

 

 



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