Hotspots Index: Spain’s international appeal stays strong
- Spain enjoys rebound at the end of 2016
- Rome and Florence occupy top spots for property interest
- Toronto appears in top 50 for first time
Spain’s appeal to international property buyers shows no sign of waning, according to TheMoveChannel.com’s latest Hotspots Index.
The quarterly report, which analyses location searches on the property portal, reveals that Spain is enjoying a rebound in popularity at the end of 2016, led by Barcelona and Benidorm.
Italy’s Florence remained the most sought-after hotspot on the property portal in Q4 2016, accounting for 3.37 per cent of location searches, up from 2.86 per cent in Q3 2016. This is the second quarter in a row that Florence has been the top hotspot on TheMoveChannel.com, after overtaking Rome in Q2 2016.
Rome remained the second most popular market for house-hunters. While Italy dominated search activity in Q3 2016, though, making up seven out of the Top 10 hotspots, the country’s share in Q4 2016 fell to three out of 10, just ahead of Portugal’s two. Spain, on the other hand, saw a rebound in searches, accounting for four out of the Top 10 destinations. In Q3 2016, Spain accounted for none of the Top 10, highlighting the significant rise in interest quarter-on-quarter.
Spain’s renewed international appeal was fuelled by Barcelona (sixth place, 1.06 per cent of searches) and Benidorm (seventh place, 0.99 per cent). Torrevieja and Tenerife completed the Top 10 in ninth and 10th place respectively. Spain also dominated the overall Hotspots Index, accounting for 18 out of the Top 50 hotspots – up from 10 in Q3 and higher than any other country. Italy was the second most in-demand, accounting for 13 out of the Top 50. Portugal was third, with 10 out of the Top 50.
Thailand’s Pattaya held onto its 18th place ranking. Liverpool also remained the UK’s only entry in the Top 50, sliding from 34th to 36th in the chart. Canada saw its first entry in the Hotspots Index, with Toronto receiving the 32nd highest share of searches in Q4 2016.
“There has been talk in recent months of declining demand for Spanish property in the wake of the UK’s vote to leave the European Union, thanks to the pound’s weakness,” comments TheMoveChannel.com Director Dan Johnson. “Spain, though, still shows signs of being as popular as ever among lifestyle buyers, with the Costa Blanca, Costa Brava and British expat favourite Benidorm all among the most searched-for destinations on TheMoveChannel.com in Q4 2016. For US or other non-EU buyers, Spain is also an attractive investment, for either buy-to-let or capital growth opportunities. It is perhaps no surprise that Barcelona, which combines both tourist and investor markets, is the most popular hotspot in Spain.
“One impact of Brexit that can be seen in search behaviour is Liverpool’s continuing appeal in the UK. As the weaker pound draws buyers to the country, the city’s economy is growing, with new developments and strong rental yields all reinforcing the city as a major regional hotspot. It is interesting also that Canada’s first entry in the Hotspots Index was Toronto, rather than Vancouver, following the city’s introduction of a foreign buyer tax in Q3 2016. Will 2017 see that trend continue? And will buyers continue to flock to Spain?”
Click here to see the full top 40 property destinations for November 2016.
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Notes to Editors
About Lead Galaxy and TheMoveChannel.com
Founded in 1999, www.TheMoveChannel.com is the leading independent website for international property, with more than 1.4 million listings in over 100 countries around the world, marketed on behalf of agents, developers and private owners.
TheMoveChannel.com is one of more than a dozen international property sites operated under the Lead Galaxy brand. Lead Galaxy provides online marketing solutions to thousands of property companies worldwide, focusing on portal listings, email marketing, qualified leads, paid search and social media advertising.
The business is headquartered at 24 Jack’s Place, Corbet Place, Shoreditch, London, E1 6NN.
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