Investors 'opting for traditional overseas destinations'

Investors are increasingly turning away from up and coming property markets in favour of more traditional destinations such as France and Spain, new research shows.

A new study from overseas mortgage company Conti reveals that there has been a percentage increase in the number of enquiries regarding property in France and Spain, while destinations such as Bulgaria have fallen back in the popularity stakes.

France and Spain now account for some 53 per cent of all enquiries at the firm, up from 29 per cent last year, the latest figures show.

Operations director at the firm Clare Nessling said: "Last year, the concentration of some investors on emerging markets was starting to erode the lead of the traditional ones. This year, the tables have turned."

A number of factors have led people to choose these destinations, she added, including low interest rates and good rental returns. And the foreign currency prices for property has also remained relatively low, despite fluctuations in the exchange rate.

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Written by Linsey Summers