International property market 'sees renewed confidence'

There is continuing growth in confidence in the international property market, it has been claimed.

The latest Global House Price Index from Knight Frank revealed that a number of international property markets recorded price increases during the second quarter of the year.

Following the report, editor at property portal Buy Association Paul Collins said that while it is still too early to declare a full-scale recovery, positive signs can be taken from the recent market growth.

"There is a certain degree of increased confidence in the markets, which hopefully will lead to more Brits feeling confident enough to buy overseas again and get back on the overseas property market," he said.

International payments for property in Scandinavia increased during the last quarter, the data from Knight Frank indicated. Mr Collins believes this could be indicative of a tendency towards lifestyle purchases. The quality of living in these countries is also very high, he added.

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By Linsey Summers