USA and spain fight for property crown
- USA and Spain neck and neck in popularity race
- US and Spanish property account for 1 in 10 enquiries each (December 2014)
- America most popular destination of 2014
- US popularity falling
- Spain, Portugal lead return of buyers to Europe
Alicante, Costa Blanca Photo: A Montero C
USA and Spain neck and neck
The USA and Spain are fighting for the global property crown, according to TheMoveChannel.com's Top of the Props report. America leapfrogged Spain to reclaim its title in December 2014, making it the most popular destination for overseas house hunters and leaving the two countries neck and neck.
America's rebound follows a surprise upset in November, which saw Spain become the most popular country on TheMoveChannel.com for the first time in 17 months. The USA accounted for one in 10 (9.7 per cent) property enquiries at the end of last year, only marginally more than Spain, which also accounted for one in 10 (9.84 per cent) of all enquiries on the international portal.
The tussle over the top spot concludes a year that has seen a growing number of buyers return to Europe from America. Portugal remained in third place in December, accounting for 5.91 per cent of all enquiries, as demand stayed consistent from the previous month. France's share of enquiries increased to 3.54 per cent, taking it up to fourth place in the Top of the Props charts.
Europe dominates top five
The top five destinations across the whole of 2014 were USA, Spain, France, Portugal, Brazil, the same as the top five destinations in 2013. While buyer behaviour appears unchanged, though, each country's share of activity altered during the course of the year, as Europe increasingly dominated demand.
Portugal's popularity grew considerably last year, with its share of enquiries almost doubling in December 2014 (5.91 per cent) compared to the same month in 2013 (3.99 per cent). Spain's share of activity rose 1 per cent year-on-year, from 8.67 per cent (December 2013) to 9.67 per cent (December 2014).
The USA's share of enquiries, on the other hand, dropped year-on-year, from 12.76 per cent to 9.7 per cent.
Overall in 2014, the USA accounted for one in five enquiries (21.82 per cent), down from one in four enquiries (25.6 per cent) in 2013. Spain accounted for one in 10 enquiries in 2013, a share that remained stable in 2014. Italy climbed from eighth place in 2013 to sixth place, its share of activity just 0.03 per cent smaller than that of fifth place Brazil.
US popularity falls
While US property remained the number one destination on TheMoveChannel.com last year, its popularity declined steadily over time. In the second half of 2014, the USA's share of enquiries fell from 25 per cent (H1 2014) to 19 per cent. Spain's share rose from 9 per cent (H1 2014) to 13 per cent (H2 2014). While France saw its share decrease from 10 per cent (H1 2014) to 6 per cent (H2 2014), Portugal's share rose from 6.5 per cent (H1 2014) to 10 per cent (H2 2014).
In the final quarter of 2014, some investors returned the USA, its share of enquiries rebounding from 17.9 per cent (Q3 2014) to 19.6 per cent (Q4 2014). The move towards Europe, though, continued to build momentum: Spain and Portugal's popularity also climbed from 10.7 per cent and 8.8 per cent respectively in Q3 2014 to 14.5 per cent and 10.9 per cent in Q4 2014.
Bahamas becomes buyer favourite
Buyers turned to other destinations outside of the eurozone at the end of 2014. Thailand entered the Top of the Props top five in December 2014, with 2.14 per cent of enquiries (up from seventh place and 2.14 per cent in December 2013). The Bahamas also rose five places month-on-month to land in sixth place, up three places year-on-year. Overall in 2014, The Bahamas were the ninth most popular destination, establishing the Caribbean islands as a long-term buyer favourite for the future.
Europe, though, stole the show, with Bulgaria climbing from 10th place in December 2013 to 8th place in December 2014. Cyprus fell just outside of the top 10 in December 2014, amid ongoing concerns surrounding the economy and other legal issues, but Greece re-entered the big league, climbing five places from November 2014 to claim 10th spot. Month-on-month, demand for Greek property almost doubled, with its share of enquiries soaring from 0.89 per cent to 1.69 per cent.
TheMoveChannel.com Director Dan Johnson comments: "US real estate has ruled on TheMoveChannel.com for the past year and a half, but all reigns must come to an end. Concerns remain over the European economy, with some markets still in a financial malaise, but conditions are increasingly more favourable than America, thanks to the weakness of the single currency and low property prices.
"For investors, signs of bottoming out in Spain are a promising glimpse of future capital growth, while Portugal's 'Golden Visa' has proven extremely popular for those seeking residency from outside of the EU. Lifestyle buyers are also seizing the chance to snap up affordable holiday homes, with British buyers in particular leading activity. Greece's re-entry into the top 10 shows that even in the most troublesome economies, buyers are prepared to pick up a bargain, as long as the property and location are right.
"US real estate will retain its appeal, led by attractive opportunities in Detroit and Florida, but in 2015, we expect to see Spain once again rise to the top of buyers' wish lists. The American Dream may be over, but Europe's property markets are waking up."
The top 40 most popular destination on TheMoveChannel.com in December 2014 are below.
Notes to Editors
About Lead Galaxy and TheMoveChannel.com
Founded in 1999, www.TheMoveChannel.com is the leading independent website for international property, with more than 800,000 listings in over 100 countries around the world, marketed on behalf of agents, developers and private owners.
TheMoveChannel.com is one of more than a dozen international property sites operated under the Lead Galaxy brand. Lead Galaxy provides online marketing solutions to thousands of property companies worldwide, focusing on portal listings, email marketing, qualified leads, paid search and social media advertising.
The business is headquartered at 24 Jack’s Place, Corbet Place, Shoreditch, London, E1 6NN.
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