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2010 Is Off to a Promising Start - 25 January 2010

Freezing weather conditions in Northern Europe and the U.S. have left overseas investors holed up and hungry for a sunny holiday. In the last few weeks, property investment websites have reported record-setting numbers, paving the way for a bright sales outlook in 2010.

UK-based site Rightmove reported 25 million hits on Jan. 4, the greatest number of visitors the site has seen in one day. About ten other sites, like The Move Channel, Mondinion, HolProp, PropertyShowrooms and Property Abroad also saw increases over this time last year. Traffic was up by 38% at Property Abroad; 32% at The Move Channel in the first week of January alone.

Spanish property is also still a top search, evidenced by Spanish real estate specialists ThinkSPAIN and Kyero, which say their visitor numbers rose 68% and 62% respectively from the same period in 2009.

Experts, or anyone familiar with global economics will note, however, that compared to 2009, a rise in any financial market is not remarkable, especially when compared to the beginning of last year when the word “recession” was thrown around like an imminent death sentence. Subsequently, the real estate market took a nosedive out of fear just as much as it did because of the recession itself.

Now that the media is reporting an economic upswing (especially in the UK and other parts of Western Europe), investors are willing to take chances again (or at least place safe property bets like Spain). January’s surge of online property interest can also be attributed to investors seeking refuge from the winter gloom, not to mention, the hope and optimism of starting a new year.

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