Top of the Props: Buyers bank on German property

Spain remained the most popular destination for real estate in August thanks to a large number of distressed properties on the market, but the Euro recession brought equal success for Germany, which jumped six places to join TheMoveChannel.com´s Top 10.

Germany has long been regarded as a safe haven in Europe´s uncertain economy. Indeed, it is no coincidence that as Moody´s lowers its ratings for Europe, German property generated almost double the number of enquiries from overseas buyers than in the previous month. The country was the ninth most popular destination on the site in August, leapfrogging Greece as well as July´s big climber Bulgaria.

Germany´s surge was accompanied by another rising star: Malta. The tiny island rose four places from 12th to sit just above Germany in the chart. The growth in popularity marked each country´s second appearance in TheMoveChannel.com´s Top 10 within the past 12 months, as investors bank on familiar property markets that have resisted recession. 

And buyers are going back to them in bigger numbers: Germany was last in the Top 10 in September 2011, accounting for 2.19 per cent of the portal´s enquiries. Now, almost one year later, that figure has grown to 2.38 per cent. Similarly, Malta´s share of activity has gone from 2.59 per cent in May 2012 to 2.68 per cent in August.

Director Dan Johnson comments: "It´s hard to remember a time when real estate headlines were not overshadowed by the Eurozone crisis. The recession has meant different things for different countries. Despite Spain´s poor financial outlook, international buyers have seized the chance to snap up bargain holiday homes along the Costas. Germany, on the other hand, has made no political friends in outlining its plans for the single currency, but its economic authority has boosted its profile for real estate investors. While other European countries worry about debt levels and falling house prices, Germany now faces rising property values thanks to high demand.

"The result is a mixed bag for overseas buyers, but once they have chosen a property market to bank with, they clearly like to stay loyal. It´s telling that time and time again, the Top of the Props chart is dominated by European destinations. Real estate headlines will only stop being overshadowed by the Eurozone when buyers lose interest in its property.  And judging by the repeated popularity of Germany and Malta, that won´t be any time soon."

The full breakdown of the Top 40 is as follows:

Notes to Editors

Founded in 1999, TheMoveChannel.com is the leading independent website for international property, with than 400,000 listings in over 100 countries around the world, marketed on behalf of agents, developers and private owners.

The website address is http://www.TheMoveChannel.com and the office address is 24 Jack’s Place, Corbet Place, Spitalfields, London, E1 6NN.

Contact Dan Johnson on 0207 952 7650 for further information.