Brazil property gets world cup boost
- Brazilian property enquiries up 82pc y-o-y
- Brazil 3rd most popular country in the world
- Brazil receives highest share of enquiries since November
- UAE in top 10 countries for first time
Arena das Dunas, Natal Photo: Populous
Brazilian boom
The boom in interest ahead of the football tournament marks the climax of a strong season for Brazil. The country has not ranked outside of the site's top 10 countries for over 12 months, thanks to its potential for capital growth and thriving tourist industry. In the month running up to the World Cup, though, buyers stepped up activity significantly.
Brazilian property accounted for 5.9 per cent of all enquiries on TheMoveChannel.com in May, 50 per cent higher than the six-month average. This is the biggest share of enquiries it has received since November 2013, taking it up from ninth spot in April 2014 to third, its highest ranking in the Top of the Props league this year.
US dominance coming to an end?
US real estate was the most popular on TheMoveChannel.com in April 2014 for the 11th month in a row.
In real terms, though, America's number of enquiries has fallen steadily for three consecutive months: US property accounted for 14.63 per cent of enquiries in May, its lowest share since December 2013 (12.76 per cent).
More buyers going back to Europe
A growing number of buyers are going back to Europe, with demand for familiar lifestyle markets either staying the same or improving.
French property remains the second most popular in the world, accounting for 6.6 per cent of enquiries, up from 6.54 per cent last month. Interest in Spanish property surged in April, its share of activity increasing from 3.81 per cent to 5.8 per cent, enough to leapfrog Portugal into fourth place. Demand continues to rise for Portuguese real estate, though, with its share of activity increasing from 3.92 per cent to 5.28 per cent.
Out of the traditional Eurozone destinations, Italy was the only one to fall in TheMoveChannel.com rankings. After buyers flocked back to the country in April, taking it up to third place, Italian property plunged to 8th in May, its share of enquiries shrinking from 4.52 per cent to 3.18 per cent. In real terms, though, enquiries for Italian property in May remained higher than the six-month average, indicating that investors are going nowhere.
Dubai joins the top 10
One of the best performing property markets on TheMoveChannel.com remains the UAE. Its ranking rose for the second month in a row in April, with enquiries up from 1.44 per cent to 2.61 per cent, taking it inside the top 10 for the first time. This record level of demand is fuelled by Dubai, which remains one of the most attractive markets in the world for international investors thanks to soaring prices in recent months.
Buyers also continue to head further east: Thailand's property is enjoying a steady turnaround in interest. Enquiries for Thai real estate jumped from 2.31 per cent to 4.15 per cent, making it the sixth most popular country on TheMoveChannel.com; a sign that Phuket and Pattaya continue to attract investors away from Bangkok, where the army has just declared martial law.
Investors in Turkish property appear equally unfazed by recent unrest, with steady demand keeping the country in seventh place in TheMoveChannel.com's rankings.
World Cup fever spreads
Brazil, though, is the property market stealing the limelight. In real terms, the number of enquiries for Brazilian real estate surged 82 per cent year-on-year in May 2014.
Brazil's rise in popularity is undoubtedly influenced by the World Cup: interest was driven primarily by Rio Grande do Norte, home to Natal, one of the tournament's stadium cities. The north-east region accounted for 44 per cent of Brazil's enquiries in May, followed by neighbouring Ceara, home to Fortaleza, another World Cup host, which accounted for 34 per cent of enquiries.
TheMoveChannel.com Director Dan Johnson comments: "Brazil has been one of the leading teams in the Top of the Props league for the past year. US real estate may be top of the table, but its number of enquiries is steadily dropping as buyers turn elsewhere. As a result, many recovering countries in Europe and further afield have seen demand increase or stay steady, but Brazil is the place where the most money is heading. People have been predicting a real estate boom in the country to varying degrees for some time, but with the World Cup now upon us, demand for Brazilian property really is kicking off."