United Kingdom Property News

Increase in number of Brits looking to Eurozone in Q3 2012, says OGC

Figures show a rise in the number of British citizens looking to purchase property in the Eurozone during Q3 2012, with 79% not being put off by the economic crisis, according to the Quarterly Index just published by The Overseas Guides Company (OGC).

The press release states that the surge in the number of Britons looking to buy in the Eurozone over the summer was down to both rock bottom prices and a flattering exchange rate.

The number of enquiries to OGC for key Eurozone destinations increased quarter-on-quarter in Q3, with August being particularly high.

Enquiries for the US and Australia were balanced, and those for Canada and New Zealand increased only slightly.

Spain once again performed exquisitely in the Quarterly Index - total enquiries to OGC increased from 16% in Q1 to 22% in Q2, and ended the third quarter of the year at 24%.

Overall for the year, France took the top spot for the share of enquiries, while Spain followed closely behind with 21%.

Richard Way, Editor of the OGC, attributed August’s demand to the Euro exchange rate.
“Let’s not forget, the euro was at a four-year low against Sterling by the end of July this year,” he said.

Combined with the low prices, we can see where the interest has risen from, he believes.
The OGC’s recent survey found that over 79% of Brits have not been put off buying in their favourite overseas location, despite the current economic crisis.

The number of enquiries for country Buying Guides also increased - they were up 17% quarter-on-quarter, from 6,707 in Q2 to 8,089 in Q3.