US 2nd-most popular overseas property destination

More people than ever are making money transfers and purchasing property in the US, according to a new report.

TheMoveChannel.com's Top of the Props survey revealed America is now the second-most popular overseas destination for those looking to buy a home.

Rising by two places in the rankings, the US beat France to come in behind non-mover Spain, which remained in first place.

Spain is said to have received three per cent more enquiries in October compared with the previous month, while research into America climbed 1.06 per cent.

Director of TheMoveChannel.com Dan Johnson claimed France has always traditionally been seen as a safe haven for foreign investment, so "snatching second place is a great achievement" for the country.

"The US market is currently full of foreclosures and repossessed property, with the affordable prices tempting buyers away from the French ski slopes and into the States," he commented.

Interest in France and Portugal both fell, with the continuing euro crisis cited as the potential reason.

Meanwhile, Cyprus and Thailand also welcomed more interest from investors, which brought the two countries into the top ten for the first time.

"The flooding may see Thailand's popularity decrease next month, but Cyprus' low prices leave a lot of room for investment as buyers look for familiar markets amid ongoing economic uncertainty," Mr Johnson remarked.

Property in Cyprus dropped for the sixth quarter in a row in October, with new legislation allowing buyers to officially receive property title deeds helping encourage investment, it was noted.

However, Thailand's recovery may be marred by the flooding which has hit Bangkok in recent weeks, severely affecting livelihoods and economic output in the country.

Thousands of factories are said to have halted production due to the natural disaster.

Posted by Thomas Smith

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