A new survey of online property enquiries suggests that interest in the market in the USA from overseas investors is now stronger than it has ever been.
Searches for US property accounted for 1 in 4 of all property enquiries last month, according to TheMoveChannel.com. This shows an increase of 5% in March alone. And meant that interest in American property accounted for almost 26% of all searches.
In October 2012, US searches overtook those for properties in Spain. And demand has continued to rise since, proving that investor confidence has returned to the market.
Recovery in the USA property market can no longer be questioned. With old favourites such as Florida leading the way but increases in values, transactions and interest showing across the board.
Eurozone problems are forcing buyers to look once again at the other side of the Atlantic, but some European destinations are faring well in 2013.
Hungary is proving popular, re-entering the top ten destinations for searches. And Spain and Portugal are performing well in spite of their continued economic woes.
new taxes on property transactions
Italian property seems to be the biggest loser when it comes to domestic European markets in terms of interest via online searches. The country only accounted for just over 2% of all property enquiries on the popular website. A fall of nearly 50% for the previous month.
The continuing political instability in Italy is the most likely cause of the drop off in interest from overseas investors. With the economic outlook hard to predict amongst voters who seem split down the middle. About which direction the country should take to deal with its financial problems.
As recently seen in France, this could involve new taxes on property transactions. And so it seems unlikely the situation will change before an element of stability is introduced.
Moving money from country to country means using the currency exchange markets. If you need to send money internationally, it is worth remembering that the rates quoted by banks. Often worse than those offered by a currency exchange specialist.