The latest analysis from quick sale specialists, Open Property Group, has revealed that British homebuyers are increasingly looking abroad when it comes to their searches for a holiday home, with Spain, Portugal and Italy ranking as the most popular destinations in terms of increased search traffic.
Open Property Group analysed a number of Google Search Trends* concerning holiday home interest and how this interest has changed over the last six months.
The research shows that searches for holiday homes in general are up 5.3% in the last six months, however, at 4.2%, searches for holiday homes in the UK have seen a lower uptick in interest.
In contrast, searches for the term ‘buy property abroad’ have surged by 10.2%, while searches for international properties are up by 15.4%.
Further analysis by Open Property Group shows that it’s Spain and Portugal that remain the clear winners when it comes to our destination of choice.
Searches for holiday homes in Spain have boomed by 78.6% in the last six months, with buyer search interest in Portugal also up by 71.2%.
Italy has also seen an increase in holiday home searches, up by 50%.
However, Anglo-French interest hasn’t fared as well, with searches for holiday homes in France falling by -22%, while interest in America has nose dived by as much as -86%.
CEO of Open Property Group, Jason Harris-Cohen, said, “UK buyers have had to contend with record high house prices for many years, but when you also add considerably higher mortgage rates to the mix, it’s no surprise that more of us are looking abroad for a holiday home in the sun.
In fact, there’s many more who are keen to make the move altogether and it’s not uncommon for us to see buyers utilising the quick sale route for a stress-free, fuss-free exit from the UK market in order to start their life abroad as quickly as possible.”
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