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Overseas property interest continues to grow - 25 March 2009

Little, it seems, will dissuade the British overseas property buyer from pursuing their dreams of living abroad – even in the midst of the economic downturn hitting the global economy, searches for overseas property on one of the biggest property websites in the country have continued to grow.

Primelocation.com has just reported that searches for property abroad in the last month have increased by 13 per cent year on year, passing the one million mark. Bucking the trend for businesses seeing much less activity in the present economic climate, it seems overseas property agents have little to complain about. It is however, impossible to say how many of these searches were serious buyers, as opposed to people dreaming of getting away from the UK during a particularly cold month without the possibility of actually doing it.

Spain topped the charts of countries searched on PrimeLocation.com, registering over 300,000 searches in the past month. France followed in second, proving that the declining value of Sterling against the euro had little effect on property interest. In third came searches for property in the US, with Brits keen to see what bargains are on offer in Florida as the housing market continues to suffer from severe depression.

Interest also grew in some of the less-developed (from a property point of view) countries. Searches for property in Switzerland were up 25 per cent on last year, while there were 31 per cent more searches for Turkish property than at the same time in 2008.

The growth in property searches in Spain comes against the backdrop of figure released by the Spanish Ministry of Tourism this week suggesting that visitors to the country in February were down by 15 per cent on 2008, and that 23 per cent fewer Brits traveled to the country this February.

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