20% of the top 20 international real estate markets posted gains in investor interest over the past year, with Germany the top performer, and India a promising newcomer to the list. As the world market begins to rebound from the credit crisis of 2008, Australia and New Zealand are enjoying a surge of popularity as evidenced by online investor searches. For more on this, see the following article from Property Wire.
While interest in many international property markets have slowed and even declined because of the credit crunch the appeal of ‘down under’ is bucking the trend, according to the latest research.
Australia and New Zealand have improved their market share of internet searches from prospective buyers and Germany, Switzerland and Austria are recovering fast with more year on year searches than 2008.
Also India has entered the top 20 most favorite search destinations for the first time, overtaking favorite emerging markets such as the United Arab Emirates and Egypt.
The Windward Islands in the Caribbean is also doing well as the fastest climber, up 33 places on the Rightmove Overseas index which covers properties in 90 countries worldwide.
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Overall its latest research shows that 45% of indexed locations saw increases in searches in the last month, 40% recorded decreases and 15% saw no changes.
‘Looking back over historical data we’re seeing the same kind of seasonal effects on search patterns as in previous years.
Activity took a huge knock at the end of 2008 when the credit crunch and collapse in buyer volume was really biting, but some countries have weathered the storm better than others,’ said Robin Wilson, Head of Overseas at Rightmove.
‘We’re seeing the first signs that prospects are improving with four of the top 20 countries registering positive growth on last year’s equivalent monthly performance,’ he added.
The success story of 2009 is Germany, he points out. Along with Austria, Switzerland and Australia, it is one of only four countries hitting higher monthly searches in October 2009 than 2008.
Germany also recorded consistent positive growth month on month and, unlike Austria and Switzerland, may not see a decline as the winter sports season fades.
‘Germany certainly seems one to watch in 2010 and points towards it possibly being among the fastest recovering destinations in 2010,’ commented Wilson.
India is another emerging market to watch with positive publicity surrounding the 2010 Commonwealth Games likely to have an impact, Rightmove Overseas says.
‘With a huge base of savvy British Indian investors to draw on, Indian property developers and agents seem well placed to capitalise,’ said Wilson.
This article has been republished from Property Wire. You can also view this article at Property Wire, an international real estate news site.
