Overseas Property: Has Private Investment Really Been Killed?

This week, overseas property portal Primelocation ran a report on how 91% of all property searches were for property in France, Spain, Italy and the US. But we know from recent reports that the world’s investors are focussing heavily on places like Turkey and Egypt, which are growing strongly at the moment. Surely pure property investment hasn’t been killed on the private level, has it?

It seems to have been according to portal searches. Rightmove Overseas’ results also showed no sign of Turkey or Egypt recently.

Thank fully we know that it hasn’t been. We know that buyers are still heavily interested in Turkish and Hurghada property because we talk to them everyday.

So where is the deficit? Well, the keyword is buyers. Most of us heard about the recent battle of the apps as both Rightmove and Primelocation brought out Apps for the much reveered Ipad at around the same time (Rightmove won by the way). These of course followed Iphone apps by not only Rightmove and Primelocation but all the other major portals as well.

These apps, and technological advances like it have not only made it easier to search for overseas property, but they have made it fun. Unfortunately this has increased the number of people searching for overseas property who have no serious intention of buying anytime soon.

Anyone who has ever dreamed of buying an overseas property (and let’s face it, who hasn’t?) in the sun is now searching for their dream home on the miserable commute home from work. Whereas before people would have played mini-games to escape the akward silence of the train, now they are playing with their apps.

This is great for the portals, but not such great news for the agents receiving their enquiries. So, while the portal search enquiries are an indication of the lasting popularity of the traditional destinations with those seeking a lifestyle buy, they do not neccesarily indicate an end to pure investment on the private level.

Any Briton on a low budget looking for an investment or holiday home investment they can afford now, and easily and affordably get to, is buying in Egypt or Turkey, and that will be the case for the foreseeable future.