The Coronavirus pandemic has caused many of us to cancel our overseas holiday plans for 2020.
New data suggests that more of us have been browsing the overseas property market and planning on a trip abroad or are even considering moving aboard.
The data from Rightmove shows that searches for properties overseas in May have reached their highest point of the year. This is a 33% increase from last May.
The countries with the biggest increases in property searches were Spain, France, and Portugal. Rightmove’s data shows that Spain had an increase of 34% from the previous year, France had an increase of 33% from last year, and Portugal had an increase of 26% from the previous year.
Rightmove’s property expert, Miles Shipside, said: “Lockdown has allowed many people to reappraise their lives, which has prompted lost of home hunters to get serious about buying elsewhere in Europe.”
Another factor that could have contributed to the increase in property searches in Spain, could be the new Netflix series called White Lines. The series is set on the Spanish island of Ibiza.
While the UK lockdown measures are eased, the spike in overseas property searching could just be based on virtual window shopping as summer holiday plans have been cancelled.
About Stuart Mosley
Stuart Mosley (CeFA, CeMap, CLTM) founded SJ Financial Solutions in June 2005 having spent 12 years with big corporates such as Halifax and Santander. He felt the personal touch and straight speaking was missing from financial and mortgage advice services and set up SJ Financial Solutions to change this.
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