Spain has reclaimed its property crown, according to the latest Top of the Props report from The Move Channel Following America's unexpected victory in November, US property fell in popularity last month, dropping three places in the overseas portal's chart.
That dip was all Spain needed to soar back to top spot, along with several other property stalwarts. After buyers seemed to flock to America to avoid Europe's troubled markets, Spain, Portugal and France charged up the table, pushing America down to fourth. In total, the top three destinations accounted for just over a third of all enquiries on the site in December.
While US enquiries fell by 7.32 per cent, Spain's popularity dropped by only 0.18 per cent. This steady level of attention, driven by low prices and the country's reduction in VAT during 2011, reflects the continuing demand for Spanish property from lifestyle buyers.
Indeed, investors returned to old favourites France and Portugal too. France's enquiries increased by 1.05 per cent to hold third place, proving that holiday home demand can still buck the Eurozone's downward trend if the prices are right. Italy's enquiries increased in December as well, but its smaller monthly rise of 0.65 per cent was still not enough to compete with November's victor.
The end of 2011 also saw a last-minute rush of attention for Barbados and Morocco. The two new entries to TheMoveChannel.com's Top 10 replaced Cyprus and Greece at the bottom of the table. Coupled with the rise of the United Arab Emirates, which jumped a hefty eight places to number 12, it suggests that despite Spain's return to form, investors are still willing to look elsewhere to avoid Europe's more troubled economies.
Managing Director Dan Johnson comments:
"As 2011 ends, the fluctuations in the Top 10 show the changing buyer demands in an uncertain market. Spain has always been a traditional choice for lifestyle buyers, as evidenced by the constant level of interest in the country. In fact, for the majority of last year, Spain was the most sought-after property destination on TheMoveChannel.com, so its return to the top spot seems an appropriate end to the year.
"Barbados and Morocco are equally attractive lifestyle choices that are free of Eurozone anxiety, but France and Portugal's strong performance in December is a reassuring sign for more familiar property markets. As the New Year begins, we shall see if the popularity of these European countries will be strong enough to weather the economic climate in 2012."
