Where are international buyers looking for homes
June 2010 International Search Index.
• Searches for international property increased by 138% between June 2009 and June 2010.
• Searches dropped by 7% in June on a month-by-month basis.
• June was the third consecutive month to register an annual increase in searches of over 100%.
Searches for international property in June were up by 138% on the same period last year but down 7% on the figure for May, according to the latest Primelocation International Search Index. The number of searches has now dropped from the peak recorded in January this year but remains very high compared to historic average levels.
All countries in the top 10 registered a double-digit annual increase in searches in June, with the United States recording the highest increase of 192%. However, the entire top five registered a monthly decrease in June, with Portugal registering the biggest fall - down 15%.
A monthly decline in searches was not unexpected in June, as the holiday season and recent hot spell here in Britain saw some potential buyers drawn away from online searching. The slight dip may also be attributed to the anticipation of a substantial Capital Gains Tax hike prior to the emergency Budget on the 22nd of the month. The eventual rise of 10% to 28% was lower than expected.
Ann Wright, International Development Manager at Primelocation.com, comments
"June is traditionally a quieter month for both the domestic and international property markets and this year has proved no exception. However, while searches were down by 7% on the figures for May 2010, the annual increase in June of 138% shows the extent of the market resurgence since the troughs in international searches in November 2007 and December 2008, which mark key points in the economic and housing market downturns.
"This month's data is especially encouraging given that it covers the announcement of the Chancellor's emergency budget, particularly the controversy over the possible 32% hike in Capital Gains Tax to 50%. The potential impact of this CGT change on second homeowners would have been substantial and therefore the relative stability of searches for international property shows that the overseas market remains strong."
% of all International Searches Top 10 June 2010
June Top Ten Ranking
Spain - 1
France - 2
United States - 3
Italy - 4
Portugal - 5
Turkey - 8
United Arab Emirates - 6
Switzerland - 9
Rest of World n/a
About Primelocation International
Primelocation International forms part of Primelocation.com, the UK's principal portal for leading estate agency firms, including major national and international agencies such as Savills, Knight Frank and Hamptons International, listing over 750,000 prime properties to rent or buy in the UK and overseas.
Primelocation International has the largest collection of international property of any UK-based property portal listing over 70,000 homes in France, Spain, Portugal, Italy, USA and over 60 other countries. Over 840 International estate agent firms list their property on Primelocation.com.
The bi-monthly International Search Index highlights demand for international property on the site amongst UK-based property hunters.
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