Cyprus and Croatia are seeing rising interest from international property investors, according to TheMoveChannel.com.
Cyprus re-entered the top 10 countries on the consumer real estate website for the third time in six months, as the sixth most sought-after destination in its March Top of the Props index. Foreign buyers returned to the island’s property market at the end of 2016, with enquiries rising 22% in the second half of the year. Enquiries fell back at the start of 2017, but buyers are now showing signs of returning in greater numbers.
In real terms, enquiries for Cypriot property rose by more than half in the first three months of 2017 compared to Quarter 4, 2016. Cyprus accounted for 3.03% of enquiries, its highest share in two years.
TheMoveChannel.com Director, Dan Johnson, says: “Foreign demand for Cypriot real estate is showing signs of strengthening again in 2017. Interest climbed in the final months of 2016, possibly fuelled by buyers racing to beat the deadline for a Capital Gains Tax incentive at the end of the year. Interest softened at the start of 2017, but enquiries have grown once more in March, without the impetus of the tax deadline. With prices bottoming out and climbing across almost all regions, according to multiple indices, conditions in the island’s market are certainly improving, which is beginning to bring back investors.”
The island’s Golden Visa scheme is also helping to drive recovering demand, with buyers on TheMoveChannel.com particularly interested in citizenship investment opportunities.”Interest also increased in Croatia, which was the seventh most popular country on TheMoveChannel.com – its first time in the Top 15 since October 2016.Demand dipped for property in Spain, although the country held on to second place, behind returning number one destination, the United States.
US real estate accounted for 7.89% of all enquiries, ahead of Spain’s 6.01%. Third place went to Indonesia on 5.98%. Indonesian interest was driven primarily by a resort on Gili Air, as the development tapped into rising demand for real estate from international investors. Portugal held on to its fourth spot, with 3.96% of enquiries.Mr Johnson explains, The USA and Spain have been battling to be top dog on TheMoveChannel.com for a long time.
With prices climbing and sentiment in the USA’s economy staying positive, America remains an attractive market for international buyers. Spain’s appeal is still strong, although with the UK triggering Article 50 in March, British buyers may have postponed any enquiries last month to wait and see how negotiations with the EU begin. “With the country making up the three most-searched locations on TheMoveChannel.com in Q1 2017, however, international interest from a diverse range of nationalities evidently remains high.
France and Italy saw their share of enquiries decrease slightly, slipping to eighth and ninth place in the Top of the Props table respectively. Germany maintained its position in 10th place. The main image is from Wikipedia and is reproduced under CreativeCommons.