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Thursday, December 15, 2011

US tops overseas property list for first time.

*US tops overseas property list for first time

*US tops overseas property list for first time
The overseas property market for Europeans buying abroad has always been dominated by France and Spain. 

When you study the absolute numbers of northern Europeans buying abroad, Spain and France have always led the pack by some distance.

Well not any more.  At least that’s the message coming from English-language overseas property portal, TheMoveChannel.com.  Its monthly rankings of searches on its network of overseas property sites shows US property is now narrowly ahead of both Spain and France.

The US has been moving steadily up the rankings no doubt driven in part by the negative news on the eurozone and the relatively benign press coverage of the US real estate market.

Managing Director Dan Johnson comments: "After climbing three places in as many months, the US continues to attract more and more overseas investors. Florida remains a popular lifestyle choice and with US houses the most affordable they have been in 15 years, the troubled Eurozone just can't compete with the low price of American real estate. It's no coincidence that the US is the only country to rise above the four familiar European markets”.

Investment bias

Like any research, the conclusions of TheMoveChannel.com’s report are only as good as the sample.  The portal has one of the largest audiences in the industry, second only to Rightmove in the UK overseas property market.  However, its audience has always had a bias towards investors who care less about travel time than traditional lifestyle buyers.  

Rightmove’s latest rankings show France top (428,312 searches) Spain second (385,737 searches) and US third (212,309 searches).  US property has increased its share of the market massively over the past 18 months but in terms of the lifestyle overseas property market in the UK, it still have some way to go to knock Spain and France off the top spot.

Top 20 overseas property searches on TheMoveChannel.com in November

1

USA

16.28

Up 1

2

Spain

15.63

Down 1

3

France

7.93

Non-mover

4

Portugal

6.91

Non-mover

5

Italy

4.62

Non-mover

6

Brazil

4.49

Up 4

7

Bulgaria

3.62

Up 2

8

Turkey

2.63

Down 2

9

Cyprus

2.39

Down 2

10

Greece

2.04

Up 1

11

Cayman Islands

1.83

Up 11

12

Cape Verde

1.8

Up 5

13

Barbados

1.74

Non-mover

14

Germany

1.56

Non-mover

15

Thailand

1.54

Down 7

16

Malta

1.41

Down 4

17

Poland

1.26

Up 1

18

India

1.18

Up 1

19

Morocco

1.17

Down 4

20

UAE

1.13

Up 3

Source: Global edge

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US tops overseas property list for first time. Beverly Hills and Los Angeles have always been a draw for foreign buyers, both as for vacation residences and investments. With the current EURO crisis, we have seen a large surge in the last few weeks of buyers from Greece, Italy and Spain that want to park their cash here in the US. We are here ready and waiting for any and all foreign investors.
Los Angeles, Platinum Triangle, Beverly Hills, Real Estate, 90210, Bel Air, Holmby Hills, Sunset Strip, Hollywood Hills, Luxury Estates, Mansions, Celebrity Homes, Homes For Sale, Listings, Realtor, Real Estate For sale, Luxury Homes, Los Angeles Realtor, Bel Air Real Estate, Christophe Choo, http://www.ChristopheChoo.com, beverly Hills real estate agent, Beverly Hills Realtor

Posted on: Beverly Hills Real Estate-Beverly Hills Homes For Sale

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