USA accounts for 1 in 4 property enquiries
US property is the most popular it has ever been on TheMoveChannel.com, according to the latest Top of the Props report, accounting for 1 in 4 of all property enquiries last month.
America’s popularity surged by 5 per cent in March 2013 to account for 25.95 per cent of investment activity – the largest share ever recorded by any country on the site.
The country became investors’ property market of choice in October last year, when it seized the top spot from rival Spain with 20.91 per cent share of enquiries. Since then, demand has continued to increase, hitting 21.44 per cent in December before slipping back to 20.58 per cent in February. But America marched forward to new heights last month, as buyers were won over by the country’s recovering market.
Cape Verde and Hungary also proved popular, climbing back into the top 10 as Cape Verde leapt 10 places from 17th, but neither could compete with the steady demand for the usual favourites. Indeed, the top five destinations among investors remain USA, Spain, Brazil, France and Portugal, with Brazil breaking new records to attract 8.17 per cent of enquiries.
Other familiar destinations were less fortunate: while interest in Spain, France and Portugal stayed high despite the eurozone recession, demand for Italian property dropped to record lows.
The traditionally popular lifestyle destination, hit hard by the financial crisis, fell four places in the TheMoveChannel.com chart to 10th place. Italian real estate accounted for 2.31 per cent of all property enquiries on the site, down from 3.38 per cent in February 2013. The figure marks the country’s lowest share of activity since Top of the Props records began. Its previous record low was recorded in November 2012, when Italy attracted 2.91 per cent of all enquiries.
“It has been a completely different story for the USA. With recovery now well underway for US real estate, America’s popularity continues to build momentum. The latest concerns surrounding Cyprus’ bailout are likely to drive even more buyers across the Atlantic, securing the USA’s dominance of international real estate for the foreseeable future.”