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Eurozone attracting British buyers

8th November 2012 | back to article listings BACK    print this article PRINT

Interest from British buyers in overseas property in many European countries has increased thanks to the global economic crisis and favourable exchange rates, according to new research.

The Quarterly Index, just published by the Overseas Guides Company (OGC), found enquiries for properties in Spain have rocketed since the start of the year.

British interest in Spanish properties increased from 16% in Q1 to 22% in Q2, and ended the third quarter of the year at 24%.

But it's not just European countries, property outside the eurozone in countries such as the US, Australia, Canada and New Zealand also proved extremely popular with Brits.

The survey revealed that 79% of potential British buyers had not been put off of investing in their favourite overseas property location, with Richard Way, Editor of the OGC, citing favourable rates as a reason for this.

He said: "The euro was at a four-year low against sterling by the end of July this year and rates have continued to remain favourable for buyers, especially from the UK."

Copyright Press Association 2012

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